The unadjusted cash account balance for Carson Company at December 31 is $12,615. The bank statement...

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The unadjusted cash account balance for Carson Company at December 31 is $12,615. The bank statement showed an ending balance of $18,250 at December 31. The following information is available from an examination of the bank statement and the company's accounting records: Bank service charge Outstanding checks NSF check from a customer Deposits in transit $ 20 7,500 425 1,222 Check number 433 for the purchase of inventory was written correctly and paid by the bank correctly for $432, but was recorded on the books at $234. Carson uses the perpetual inventory system. Required: a. Prepare a bank reconciliation as of December 31. b. Indicate how each of the required adjusting entries impact the financial statements. Complete this question by entering your answers in the tabs below. Indicate how each of the required adjusting entries impact the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities Note: Leave cells blank if no input is needed. Enter any decreases to account balances and cash outflows with a minus sign. Required 1 Required 2 Income Statement Stockholders' Equity Revenue Expenses (20) 20= Horizontal Statements Model Balance Sheet Item Assets Liabilities Cash Accounts Receivable Inventory Bank service charge (20) Outstanding checks NSF check from a customer (425) 425 + + + | " " " Statement of ( Net Income (20) The unadjusted cash account balance for Carson Company at December 31 is $12,615. The bank statement showed an ending balance of $18,250 at December 31. The following information is available from an examination of the bank statement and the company's accounting records: Bank service charge Outstanding checks NSF check from a customer Deposits in transit $ 20 7,500 425 1,222 Check number 433 for the purchase of inventory was written correctly and paid by the bank correctly for $432, but was recorded on the books at $234. Carson uses the perpetual inventory system. Required: a. Prepare a bank reconciliation as of December 31. b. Indicate how each of the required adjusting entries impact the financial statements. Complete this question by entering your answers in the tabs below. Indicate how each of the required adjusting entries impact the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities Note: Leave cells blank if no input is needed. Enter any decreases to account balances and cash outflows with a minus sign. Required 1 Required 2 Income Statement Stockholders' Equity Revenue Expenses (20) 20= Horizontal Statements Model Balance Sheet Item Assets Liabilities Cash Accounts Receivable Inventory Bank service charge (20) Outstanding checks NSF check from a customer (425) 425 + + + | " " " Statement of ( Net Income (20)

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a Bank Reconciliation as of December 31 Items on Bank Statement Items on Companys Books Ending balan... View the full answer