Question: Please help with just Problem #1 I will give thumbs up Problem 1 (12 points) Lola Company's auditor observes the following related to Lola Company's
Please help with just Problem #1 I will give thumbs up



Problem 1 (12 points) Lola Company's auditor observes the following related to Lola Company's Cash account balance as of 1/31/22. Use this information to prepare a bank reconciliation for Lola Company. Lola Company's 1/31/22 Cash T account shows a balance of $170,000. Lola Company's bank statement dated 1/31/22 shows a balance of $150,000. Lola Company wrote a check and forgot to post the related journal entry to the T accounts. The journal entry that Lola Company forgot to post was: Dr. Rent Expense 10,000 and Cr. Cash 10,000. 2 The bank reports that Lola Company's customer's check was returned as NSF check. The check was for $1,200. Lola Company has not yet reflected this NSF check in its Cash balance. Lola Company incorrectly recorded a debit to Cash for $400 on a check that was received for $4,000. Lola Company has deposits of $19,600 that do not yet appear on the bank statement. Lola Company has not yet recorded bank fees of $1,000. The bank forgot to record a $1,800 deposit made by Lola Company. Lola Company has written $8,000 worth of checks that have not yet cleared the bank. Lola Company has not yet reflected this NSF check in its Cash balance. Lola Company incorrectly recorded a debit to Cash for $400 on a check that was received for $4,000. Lola Company has deposits of $19,600 that do not yet appear on the bank statement. Lola Company has not yet recorded bank fees of $1,000. The bank forgot to record a $1,800 deposit made by Lola Company. Lola Company has written $8,000 worth of checks that have not yet cleared the bank. Lola Company has not yet recorded $2,000 of interest revenue related to the bank account. . . Lola Company Bank Reconciliation As of 1/31/22 Balance per bank, 1/31/22 Balance per books, 1/31/22 . . The bank forgot to record a $1,800 deposit made by Lola Company. Lola Company has written $8,000 worth of checks that have not yet cleared the bank. Lola Company has not yet recorded $2,000 of interest revenue related to the bank account. Lola Company Bank Reconciliation As of 1/31/22 Balance per bank, 1/31/22 Balance per books, 1/31/22 Adjusted bank balance, 1/31/22 Adjusted books balance, 1/31/22
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