Please help with Problem 7-8B - Prepare a bank reconciliation and recording adjustments

ity with the reconciled balance. the company's book balance of Cash into conform- Analysis Component: Explain the nature of the messages conveyed by a bank to one of its depositors when the bank sends a debit memo and a credit memo to the depositor. Problem 7-8B Preparing a bank reconciliation and recording adjustments LO6 CHECK FIGURE: 1. Adjusted book balance = $35,201.35 Yardworx reconciled its book balance of Cash with its bank statement balance on April 30 and showed two cheques outstanding at that time, #1771 for $15,463.10 and # 1780 for $955.65. 52 CHAPTER 7 al Coniland C The following information is available for the May 31, 2030, reconciliation: From the May 31, 2020, bank statement 561,045.95 26.08.10 57,005.40 ce of previous etement on Apr 30/20 coating ander des saling de 30.128.65 May 04 1484230 14 84925 18 15,600 40 22 1166 45 1784 1783 1787 1782 From Yardwork's accounting records: Dale Explanation 2020 Apr 30 Balance May 31 31 Depot Made 530 May Die May 01 14. 22 #682 02 15 26 21 Total May Cash Receipts Ching Account transactions hanschon Description Bake Depot Dep NO C +Dece Amount 7,800.00 1,465 80 233475 12.800.55 ad CR7 COB $14,062 30 84925 116645 4.210.10 840095 $29,209.05 26 31 May 26 28 Cash Det 29,299.05 Amunt 5.200.00 4.210.10 135.00 Che No 1705 1771 1788 Chet 28.089.50 Transaction Cest neme Depi -Service there 620 15 15,463 10 98545 Art No 101 Balance 44.627.20 7391625 45.824.75 No 1782. 1783 1784 1705 1796 1787 1788 1709 Total May Cash Disbursements $12.000 DNSSYS 7,600.00 62016 97435 2.3345 2055 139825 $29.099 50 CHAPTER 7 internal Control and Cash . Cheque #1788 was correctly written for $985.65 to pay for May utilities; however, the bookkeeper misread the amount and entered it in the accounting records with a debit to Utilities Expense and a credit to Cash as though it were for $895.65. The bank paid and deducted the correct amount. . The NSF cheque was originally received from a customer, Gertie Mayer, in payment of her account. Its return was unrecorded. . The credit memo resulted from a $5,300 electronic fund transfer for the collection of a customer payment. The bank had deducted a $100 bank service charge fee. The collection has not been recorded in the company's books. Required 1. Prepare a bank reconciliation for Yardworx. 2. Prepare the general journal entries needed to adjust the book balance of Cash to the reconciled balance. Analysis Component: The preceding bank statement discloses two places where the cancelled cheques re- turned with the bank statement are not numbered sequentially. In other words, some of the prenumbered cheques in the sequence are missing. Several possible situations would explain why the cancelled cheques returned with a bank statement might not be numbered sequentially. Describe three possible reasons that this might occur. cording adjustments LO6