not sure how to do this excel sheet

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Fghql009

Business Finance

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You can type the journal entries under the bank reconciliation.

The check posted incorrectly by the company was originally written for advertising expense

If you have trouble entering answer for Internal Control question, write it on a separate line.

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Problem 1 : 35 points Seamus Company Bank Reconciliation: Ending General Ledger Cash Balance, 2636.5 Bank Statement Dated 09/30/2011, balance $3,876.35 1. A check for $75 deposited by Seamus was returned marked "Not Sufficient Funds" 2. Deposit of $700 was made on the last day of the month but was not recorded by the bank. The check was written to pay for advertising expenses. 3. A check, cleared the bank for the correct amount of $165,had been recorded on Seamus Company Books as $175 4. A check was written during Sept but has not been processed by the bank. The amount was $529.85 5. A check for $1,500 is still outstanding from July. 6. Bank recorded a $25 service fee that was not recorded on the books. Prepare a bank reconciliation at 09/30/2011 Prepare any necessary journal entries Why is a bank reconciliation important to internal control? #REF! Ending balance per bank statement Add: - Deduct: - Correct cash balance $ - Ending balance per company records $ - Add: $ - - - - Deduct: Correct cash balance $ - B-06.05 Problem 2 : 15 points Seamusestablished a petty cash fund for minor day-to-day expenses. Following are activities related to this fund. Prepare the necessary journal entries for petty cash. (1) Established a $300 petty cash fund by writing a check to "cash," cashing the check, and placing the proceeds in a petty cash box entrusted to Seamus Jones as custodian. (2) At the end of the month, the petty cash fund contained remaining cash of $94, and receipts for $99 postage, $32 office supplies, and $75 gasoline for company vehicles. A check payable to cash in the amount of $206 was prepared, and the funds were placed into the box. (3) At the end of the next month, its was determined that Seabiscuits needs another $200 in the petty cash fund Name: B-06.05 Date: Section: GENERAL JOURNAL Date Accounts Debit #1 To establish a petty cash fund #2 To record expenses and replenishment of petty cash #3 To increase amount in petty cash 4 What is the balance in Petty Cash after completing the entries? Credit Problem 1 : 35 points Seamus Company Bank Reconciliation: Ending General Ledger Cash Balance, 2636.5 Bank Statement Dated 09/30/2011, balance $3,876.35 1. A check for $75 deposited by Seamus was returned marked "Not Sufficient Funds" 2. Deposit of $700 was made on the last day of the month but was not recorded by the bank. The check was written to pay for advertising expenses. 3. A check, cleared the bank for the correct amount of $165,had been recorded on Seamus Company Books as $175 4. A check was written during Sept but has not been processed by the bank. The amount was $529.85 5. A check for $1,500 is still outstanding from July. 6. Bank recorded a $25 service fee that was not recorded on the books. Prepare a bank reconciliation at 09/30/2011 Prepare any necessary journal entries Why is a bank reconciliation important to internal control? #REF! Ending balance per bank statement $ Add: - Deduct: - Correct cash balance $ - Ending balance per company records $ - Add: $ - - - - Deduct: Correct cash balance $ - 52,00 B-06.05 Problem 2 : 15 points Seamusestablished a petty cash fund for minor day-to-day expenses. Following are activities related to this fund. Prepare the necessary journal entries for petty cash. (1) Established a $300 petty cash fund by writing a check to "cash," cashing the check, and placing the proceeds in a petty cash box entrusted to Seamus Jones as custodian. (2) At the end of the month, the petty cash fund contained remaining cash of $94, and receipts for $99 postage, $32 office supplies, and $75 gasoline for company vehicles. A check payable to cash in the amount of $206 was prepared, and the funds were placed into the box. (3) At the end of the next month, its was determined that Seabiscuits needs another $200 in the petty cash fund Name: B-06.05 Date: Section: GENERAL JOURNAL Date Accounts Debit #1 To establish a petty cash fund #2 To record expenses and replenishment of petty cash #3 To increase amount in petty cash 4 What is the balance in Petty Cash after completing the entries? Credit
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Problem 1 :
35 points
Seamus Company
Bank Reconciliation:
Ending General Ledger Cash Balance, 2636.5
Bank Statement Dated 09/30/2011, balance $3,876.35
1. A check for $75 deposited by Seamus was returned marked "Not Sufficient Funds"
2. Deposit of $700 was made on the last day of the month but was not recorded by the bank.
The check was written to pay f...


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