Answer:
Explanation:
This is an incomplete question and the missing part is as listed.
A) Prepare a bank reconciliation as at October 31, 20Y9
B)Jornalize the necessary entry
C)If a balanced sheet was prepared for Coastal Bike Co., what amount should be reported as cash?
Solution
Opening cash balance - 36,016
Cash deposited - 138,030
Check written - (138,571)
35,475
Bank reconciliation for Coastal bike as at October 31 20Y9
Cash balance according to Bank statement - 43,940
Unrecorded deposit 1796
Bank error (750-570) 180
Outstanding checks 6281
Total adjustment 4,305
Adjusted balance 39,635
Cash balance after considering the month,s transaction 35,475
Note collected by bank 5670
Bank charges 26
Returned checks 1,394
Error in recording check(210-120) 90
Total adjustment 4160
Adjusted balance 39,635
B
Entries that increase cash
Description Debit Credit
Cash 5670
Note receivable 5400
Interest Income 270
Accounts payable (Rack pro) 90
Accounts receivable (Bay view) 1394
Bank charges 26
Cash 1510
c
Amount to be recorded as cash in balanced sheet
Opening cash balance - 36,016
Cash deposited - 138,030
Check written - (138,571)
35,475
