Cap. 8 De Accounting

Prob. 8–2A
2012
Aug. 1 Petty Cash 750
Cash 750

10 Cash 9,800
Cash Short and Over 20
Sales 9,780

31 Store Supplies 251
Delivery Expense 110
Office Supplies 76Miscellaneous Administrative Expense 58
Cash Short and Over 15
Cash 510

31 Cash 11,130
Cash Short and Over 70
Sales 11,200

31 Cash 100
Petty Cash 100Prob. 8–3A
1. ONLINE MEDICAL CO.
Bank Reconciliation
June 30, 2012

Cash balance according to bank statement $10,760
Add: Deposit of June 30, not recorded by bank $4,000Bank error in charging check as $600 instead
of $60 540 4,540
$15,300
Deduct outstanding checks 3,900
Adjusted balance $11,400

Cash balance accordingto company’s records $ 9,375
Add proceeds of note collected by bank, including
$100 interest 2,100
$11,475
Deduct: Error in recording check $ 50
Bankservice charges 25 75
Adjusted balance $11,400

2. Cash 2,100
Notes Receivable 2,000
Interest Revenue 100

Accounts Payable—Hirsch Co. 50Miscellaneous Administrative Expense 25
Cash 75

3. $11,400; the adjusted balance from the bank reconciliation should be reported as cash on the June 30, 2012, balance sheet for Online MedicalCo.

Prob. 8–4A
1.
BRAVO BIKE CO.
Bank Reconciliation
May 31, 2012

Balance per bank statement $25,460
Add: Deposit of May 31, not recorded by bank $ 9,200Bank error in charging check as $940 instead
of $490 450 9,650
$35,110
Deduct outstanding checks 11,360
Adjusted balance$23,750

Balance per company’s records $20,435*
Add proceeds of note collected by bank,
including $225 interest 4,725
$25,160
Deduct:...