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Name: ______________________________ Date: _______________

Problem Points Possible Points Received 1 25 Points   2 15 Points   3 5 Points 4 5 Points   Total 50 Points

Problem #1 – (25 Points)
Sav Rocca, accountant for Shine King Cleaning is attempting to reconcile the monthly bank account. Sav Rocca has the following information:

The cash ledger balance at November 30 is $73,100
The balance according to the bank statement is $73,723
Deposits in transit totaled $900
Outstanding checks Check #104 – $500 & Check #107 – $600
Bank service charges were $18
The bank collected an EFT collection of $600 for Shine King Cleaning on account from Pierre’s Wig Stand
Earned interest at the bank $16
Shine King Cleaning made EFT payments Check Art Supplies $30 & Calpine Energy $145.

1) Prepare bank reconciliation at November 30 (15 Points)

Bank Balance Book Balance Adjusted Bank Balance Adjusted Book Balance

Problem #1 continued
2) Prepare any necessary journal entries from previous page (10 Points)

GENERAL JOURNAL DATE DESCRIPTION REF DEBIT CREDIT
Problem 2- (15 Points)
Prepare journal entries for the following petty cash transactions of Bob’s Lawn Service:

1) Established a $200 petty cash fund (5 points)
Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST.
REF. DEBIT CREDIT

2) Replenish the petty cash fund. The fund contained the following: $77 in cash, receipts for $45 in lawn supplies purchased, receipts for $11 in fuel costs purchased, and a $17 receipt for entertainment expenses (10 points)

Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST.
REF. DEBIT CREDIT
Problem 3 – (5 Points)
3) A petty cash fund was established with a $300 balance. It currently has cash of $78 and petty…