Question: THIS IS ALL ONE QUESTION WITH DIFFERENT PARTS USING THE SAME REQUIRED INFORMATION. Required Information [The following information applles to the questions displayed below] Hills


![below] Hills Company's June 30 bank statement and the June ledger account](https://s3.amazonaws.com/si.experts.images/answers/2024/06/665ddf376af80_022665ddf36eee50.jpg)






Required Information [The following information applles to the questions displayed below] Hills Company's June 30 bank statement and the June ledger account for cash ara 1. Prepare a bank reconciliation. A compartson of the checks witten with the checks that have ceared the bank shows outtanding checks of $700. Some of the checks that cleared in June were witten prlor to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June 2. Prepare any Journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Joumal Entry Required" In the first account field.) Journal entry worksheet Record the service charges of $30 deducted by the bank. Note: Enter debits before credits. 3. What is the balance In the Cash account after the reconcillation entrles? 4. In addition to the balance in its bank account, Hills Company also has $300 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
