The December cash records of Kirk's Hardware follow: Cash Receipts Cash Payments Cheque # Date Cash Debit Cash Credit 4-Dec 2$ 4,170 1416 2$ 860 9-Dec 510 1417 130 14-Dec 530 1418 650 17-Dec 2,180 1,850 1419 1,490 1,440 31-Dec 1420 1421 900 1422 630 Kirk's Cash account shows a balance of $16,740 at December 31. On December 31, Kirk Hardware received the following bank statement: Bank Statement for December 2020 Deposits and other credits: Beginning balance $ 13,600 1-Dec EFT $ 300 5-Dec 4,170 10-Dec 510 15-Dec 530 18-Dec 2,180 22-Dec BC 1,400 9,090 Cheques and other debits: 8-Dec NFS 2$ 1,000 11-Dec 860 19-Dec EFT 700 22-Dec 130 29-Dec 650 31-Dec 1,940 31-Dec SC 60 (5,340) Ending balance $ 17,350 Additional data for the bank reconciliation follows: A. The EFT credit was a receipt of rent. The EFT debit was an insurance payment for December. B. The NSF check was received from a customer. C. The $1,400 bank collection was for a note receivable. D. The correct amount of check 1419 for rent expense is $1,940. Kirk's controller mistakenly recorded the check for $1,490. Requirements: 1. Journalize any required entries from the above records for Kirk's Hardware. 2. Prepare the company's adjusted cash book. 3. Prepare the bank reconciliation statement for Kirk's Hardware at December 31, 2020.
The December cash records of Kirk's Hardware follow: Cash Receipts Cash Payments Cheque # Date Cash Debit Cash Credit 4-Dec 2$ 4,170 1416 2$ 860 9-Dec 510 1417 130 14-Dec 530 1418 650 17-Dec 2,180 1,850 1419 1,490 1,440 31-Dec 1420 1421 900 1422 630 Kirk's Cash account shows a balance of $16,740 at December 31. On December 31, Kirk Hardware received the following bank statement: Bank Statement for December 2020 Deposits and other credits: Beginning balance $ 13,600 1-Dec EFT $ 300 5-Dec 4,170 10-Dec 510 15-Dec 530 18-Dec 2,180 22-Dec BC 1,400 9,090 Cheques and other debits: 8-Dec NFS 2$ 1,000 11-Dec 860 19-Dec EFT 700 22-Dec 130 29-Dec 650 31-Dec 1,940 31-Dec SC 60 (5,340) Ending balance $ 17,350 Additional data for the bank reconciliation follows: A. The EFT credit was a receipt of rent. The EFT debit was an insurance payment for December. B. The NSF check was received from a customer. C. The $1,400 bank collection was for a note receivable. D. The correct amount of check 1419 for rent expense is $1,940. Kirk's controller mistakenly recorded the check for $1,490. Requirements: 1. Journalize any required entries from the above records for Kirk's Hardware. 2. Prepare the company's adjusted cash book. 3. Prepare the bank reconciliation statement for Kirk's Hardware at December 31, 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Can you please help me with the three requirement question at the bottom of the pic I've attached

Transcribed Image Text:The December cash records of Kirk's Hardware follow:
Cash Receipts
Cash Payments
Date
Cash Debit
Cheque #
Cash Credit
4-Dec
$
4,170
1416
$
860
9-Dec
510
1417
130
14-Dec
530
1418
650
1,490
1,440
17-Dec
2,180
1,850
1419
31-Dec
1420
1421
900
1422
630
Kirk's Cash account shows a balance of $16,740 at December 31. On
December 31, Kirk Hardware received the following bank statement:
Bank Statement for December 2020
Deposits and other
credits:
Beginning balance
2$
13,600
1-Dec
EFT
300
5-Dec
4,170
10-Dec
510
15-Dec
530
18-Dec
2,180
22-Dec
ВС
1,400
9,090
Cheques and other
debits:
8-Dec
NFS
$
1,000
11-Dec
860
19-Dec
EFT
700
22-Dec
130
29-Dec
650
31-Dec
1,940
31-Dec
SC
60
(5,340)
17,350
Ending balance
$
Additional data for the bank reconciliation follows:
A. The EFT credit was a receipt of rent. The EFT debit was an insurance payment
for December.
B. The NSF check was received from a customer.
C. The $1,400 bank collection was for a note receivable.
D. The correct amount of check 1419 for rent expense is $1,940. Kirk's controller
mistakenly recorded the check for $1,490.
Requirements:
1. Journalize any required entries from the above records for Kirk's Hardware.
2. Prepare the company's adjusted cash book.
3. Prepare the bank reconciliation statement for Kirk's Hardware at December 31,
2020.
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