Anova Company began business in June and has received its first monthly bank statement. The company has also provided its cash receipts and disbursements information for the month as shown by the following:

Requirements
1. Prepare a bank reconciliation showing the true cash balance at June 30.
2. Prepare the necessary adjustments to the accounting equation to update the records of Anova Company.
3. On which financial statements and in which sections would Anova report its cashbalance?

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Information from the bank statement: Initial deposit: Deposits received une 1 June 5 June 8 June 15 June 20 June 23 June 28 #101 #102 #103 #105 #107 $7,500.00 3,500.50 $5,796.80 $3,470.56 $5,460.50 $2,565.45 $3,540.84 $1,250.45 345.82 $ 244.50 $150.47 $1,194.50 Checks cleared Other items on the bank statement: Debit memos (reductions in account balance): Automatic deduction for insurance payment Charges for new checks Monthly service fee une 1 June 10 June 30 $ 256.00 42.30 35.00 Credit memos (additions to account balance): Refund from insurance company for billing error June 5 BALANCE PER BANK STATEMENT Information from Anova's accounting records for June Bank deposits 4.50 $28,320.11 JUNE 30 une 1 June 5 June 8 $ 7,500.00 3,500.50 $5,796.80 June 15 $3,470.56 June 20 5,460.50 June 23 2,565.45 June 28 3,540.84 June 29 1,345.90 June 30 3,560.75 $1,250.45 $345.82 $244.50 $2,500.45 150.47 $423.50 $1,194.50 $ 825.80 $231.60 $2,350.00 JUNE 30 $27,224.21 Checks written: #101 #102 #103 #104 #105 #106 #107 #108 #109 #110 BALANCE PER ANOVA'S BOOKS