An examination of the cash activities during the year shows the following. GREAT ADVENTURES Cash Account...
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An examination of the cash activities during the year shows the following. GREAT ADVENTURES Cash Account Records July 1, 2024, to December 31, 2024 Cash Receipts Cash Disbursements Date 7/1 7/15 7/22 Description Stock sale Amount Date $20,000 7/1 Check number Description Amount 101 Insurance $4,200 Clinic receipts 2,000 7/2 102. Legal fees 1,250 Clinic receipts 2,300 7/7 DC Advertising 250 7/30 Clinic receipts 4,000 7/8 103 Bikes 11,500 8/1 Borrowing 25,000 7/24 DC Advertising 650 8/10 Clinic receipts 3,000 8/4 104 Kayaks 21,000 8/17 Clinic receipts 10,500 8/24 DC Office supplies 1,750 9/21 Clinic receipts 12,700 9/1 105 Rent 1,800 10/17 Clinic receipts 17,400 12/8 106 Race permit 1,150 12/15 Race receipts 20,000 12/16 107 Salary 2,000 12/31 108 Dividend 2,000 12/31 109 Dividend 2,000 $116,900 $49,550 Summary of Transactions Beginning Cash Balance July 1, 2024 Cash Receipts 50 $116,900 Ending Cash, Cash Disbursements $49,550 Balance December 31, 2024 $67,350 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzie makes deposits at the bank only on the first day of each month Account Holder: SUNNIT BANK Leading You to the Top Great Adventures, Incorporated Merber FDIC 1124537774 December 31, 2024 Account Number: Statement Date: Account Summary Beginning Balance July 1, 2024 50 Deposits and Credits Number 8 Total $97,400 Number 11 Withdrawals and Debits Totol $43,750 Ending Balance December 33 2024 $53,650 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date 7/1 Amount Description Date Number Amount Description: Date Amount $20,000 DEP 7/1 101 $4,200 CHK 7/1 8/1 8,300 DEP 7/7 $15,800 102 1,250 CHK 7/7 14,300 8/1 25,000 DEP 7/7 250 DO 7/14 2,800 9/1 13,500 DEP 7/24 103 11,500 CHK 7/24 2,150 9/30 200 INT 7/24 650 DC 8/1 10/1 12,700 35,450 DEP 8/9 104 21,000 CHK 8/9 14,450 11/1 17,400 DEP 8/24 1,750 DC 8/24 12,700 12/31 300 INT 9/2 105 1,800 CHK 9/1 26,200 9/30 100 SF 9/2 12/10 106 24,400 1,150 CHK 9/30 24,500 12/31 100 SF 10/1 37,200 11/1 54,600 12/10 53,450 $97,400 $43,750 12/31 $53,650 $97,400 $43,750 12/31 $53,658 Description DEP Customer deposit INT Interest earned SF Service fees CHK Customer check DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $53,650 is substantially less than the company's balance of $67,350. Required: 2-6. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2024. 2-b. Record any necessary entries to adjust cash. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2024. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INCORPORATED Bank's Cash Balance Per Bank Statement Bank Reconciliation December 31, 2024 Per General Ledger Company's Cash Balance Bank Balance Per Reconciliation Company Balance Per Reconciliation Req 28> Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet 2 Record the amounts that increase cash. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry Req 2A Req 28 Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No first account field. Total entries to the same account together when entering in the journal entry carouse View transaction list Journal entry worksheet < 1 2 Record the amounts that decrease cash. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry An examination of the cash activities during the year shows the following. GREAT ADVENTURES Cash Account Records July 1, 2024, to December 31, 2024 Cash Receipts Cash Disbursements Date 7/1 7/15 7/22 Description Stock sale Amount Date $20,000 7/1 Check number Description Amount 101 Insurance $4,200 Clinic receipts 2,000 7/2 102. Legal fees 1,250 Clinic receipts 2,300 7/7 DC Advertising 250 7/30 Clinic receipts 4,000 7/8 103 Bikes 11,500 8/1 Borrowing 25,000 7/24 DC Advertising 650 8/10 Clinic receipts 3,000 8/4 104 Kayaks 21,000 8/17 Clinic receipts 10,500 8/24 DC Office supplies 1,750 9/21 Clinic receipts 12,700 9/1 105 Rent 1,800 10/17 Clinic receipts 17,400 12/8 106 Race permit 1,150 12/15 Race receipts 20,000 12/16 107 Salary 2,000 12/31 108 Dividend 2,000 12/31 109 Dividend 2,000 $116,900 $49,550 Summary of Transactions Beginning Cash Balance July 1, 2024 Cash Receipts 50 $116,900 Ending Cash, Cash Disbursements $49,550 Balance December 31, 2024 $67,350 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzie makes deposits at the bank only on the first day of each month Account Holder: SUNNIT BANK Leading You to the Top Great Adventures, Incorporated Merber FDIC 1124537774 December 31, 2024 Account Number: Statement Date: Account Summary Beginning Balance July 1, 2024 50 Deposits and Credits Number 8 Total $97,400 Number 11 Withdrawals and Debits Totol $43,750 Ending Balance December 33 2024 $53,650 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date 7/1 Amount Description Date Number Amount Description: Date Amount $20,000 DEP 7/1 101 $4,200 CHK 7/1 8/1 8,300 DEP 7/7 $15,800 102 1,250 CHK 7/7 14,300 8/1 25,000 DEP 7/7 250 DO 7/14 2,800 9/1 13,500 DEP 7/24 103 11,500 CHK 7/24 2,150 9/30 200 INT 7/24 650 DC 8/1 10/1 12,700 35,450 DEP 8/9 104 21,000 CHK 8/9 14,450 11/1 17,400 DEP 8/24 1,750 DC 8/24 12,700 12/31 300 INT 9/2 105 1,800 CHK 9/1 26,200 9/30 100 SF 9/2 12/10 106 24,400 1,150 CHK 9/30 24,500 12/31 100 SF 10/1 37,200 11/1 54,600 12/10 53,450 $97,400 $43,750 12/31 $53,650 $97,400 $43,750 12/31 $53,658 Description DEP Customer deposit INT Interest earned SF Service fees CHK Customer check DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $53,650 is substantially less than the company's balance of $67,350. Required: 2-6. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2024. 2-b. Record any necessary entries to adjust cash. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2024. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INCORPORATED Bank's Cash Balance Per Bank Statement Bank Reconciliation December 31, 2024 Per General Ledger Company's Cash Balance Bank Balance Per Reconciliation Company Balance Per Reconciliation Req 28> Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet 2 Record the amounts that increase cash. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry Req 2A Req 28 Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No first account field. Total entries to the same account together when entering in the journal entry carouse View transaction list Journal entry worksheet < 1 2 Record the amounts that decrease cash. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry
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