Prob. 6–2A 2006 June 1 Petty Cash............................................................ 600.00 Cash.................................................................. 600.00 6 Cash...................................................................... 8,008.15 Cash Short and Over....................................... 9.65 Sales ................................................................. 7,998.50 30 Store Supplies ..................................................... 30.75 Merchandise Inventory ....................................... 166.25 Office Supplies .................................................... 161.50 Miscellaneous Administrative Expense ............ 179.50 Cash Short and Over........................................... 11.25 Cash.................................................................. 549.25 30 Cash...................................................................... 8,988.35 Cash Short and Over........................................... 21.15 Sales ................................................................. 9,009.50 30 Cash...................................................................... 150.00 Petty Cash........................................................ 150.00 Prob. 6–5A 1. ROCKY MOUNTAIN INTERIORS Bank Reconciliation May 31, 20— Cash balance according to bank statement .................... $ 14,145.54 Add deposit of May 31, not recorded by bank................. 1,325.05 $ 15,470.59 Deduct outstanding checks: No. 602....................................................................... $ 85.50 628....................................................................... 837.70 634....................................................................... 303.30 1,226.50 Adjusted balance ............................................................... $ 14,244.09 Cash balance according to depositor’s records............. $ 8,531.99* Add proceeds of note collected by bank: Principal....................................................................... $ 5,000.00 Interest......................................................................... 400.00 Add error in recording Check No. 632 ...................... 561.60 5,961.60 $ 14,493.59 Deduct: Check returned because of insufficient funds . $ 225.40 Service charges................................................... 24.10 249.50Adjusted balance ............................................................... $ 14,244.09 *Balance per cash in bank account, May 1................. $ 10,578.00 Add May receipts ........................................................ 6,630.60 Deduct May disbursements ....................................... (8,676.61) Balance per cash in bank account, May 31 .............. $ 8,531.99 2. Cash ................................................................................ 5,961.60 Notes Receivable ...................................................... 5,000.00 Interest Revenue....................................................... 400.00 Accounts Payable..................................................... 561.60 Accounts Receivable ..................................................... 225.40 Miscellaneous Administrative Expense ....................... 24.10 Cash........................................................................... 249.50 3. $14,244.09 4. The error of $360 in the canceled check should be added to the “balance according to bank statement” on the bank reconciliation. The canceled check should be presented to the bank, with a request that the bank balance be
View Full Document