A B D E F G 1 Chapter 8 Excel Exercise 2 3 Instructions: The cash account for West Co. on October 1 indicated a balance of $73,035. During October, the total cash deposited was $291,380 and checks written totaled $302,060. The bank statement indicated a balance of $96,122 on October 30. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the 4 following reconciling items: 5 6 1. Prepare a bank reconciliation as of October 31. 7 a. Bank service charges for October amounted to $105. 8 obligation to Clinical Co. on account. 9 c. Checks outstanding totaled $32,867. 10 d. A check for $7,520 had been incorrectly charged by the bank as $7,250. 11 e. A deposit of $10,980 representing receipts of October 31, had been made too late to appear on the banke statement. 12 f. The bank had collected for West Co. $5,675 on a note left for collection. The face amount of the note was $5,200. 13 g. A check for $1,700 from Sports Co. was returned by the bank because of insufficient funds. 14 15 2. Journalize the necessary entries. The accounts have not been closed. 16 17 3. If the balance sheet is prepared for West Co. on October 31, what amount should be reported as cash? 18 A B D E F G 1 Chapter 8 Excel Exercise 2 3 Instructions: The cash account for West Co. on October 1 indicated a balance of $73,035. During October, the total cash deposited was $291,380 and checks written totaled $302,060. The bank statement indicated a balance of $96,122 on October 30. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the 4 following reconciling items: 5 6 1. Prepare a bank reconciliation as of October 31. 7 a. Bank service charges for October amounted to $105. 8 obligation to Clinical Co. on account. 9 c. Checks outstanding totaled $32,867. 10 d. A check for $7,520 had been incorrectly charged by the bank as $7,250. 11 e. A deposit of $10,980 representing receipts of October 31, had been made too late to appear on the banke statement. 12 f. The bank had collected for West Co. $5,675 on a note left for collection. The face amount of the note was $5,200. 13 g. A check for $1,700 from Sports Co. was returned by the bank because of insufficient funds. 14 15 2. Journalize the necessary entries. The accounts have not been closed. 16 17 3. If the balance sheet is prepared for West Co. on October 31, what amount should be reported as cash? 18