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Student Name:
Class:
13,145$ 8,100$
1,600 (200)
(2,100) (300)
Entry Account Debit Credit
(a) 6,270 <--Correct!
6,000
McGraw-Hill
Instructor
OSCAR'S RED CARPET STORE
OSCAR'S RED CARPET STORE
Requirement 1:
NSF check
Per general ledger
Company error
Problem 04-02
Checks outstanding
Company's Cash Balance
Bank's Cash Balance
February 28, 2018
Bank Reconciliation
Deposits outstanding
Per Bank Statement
Notes Receivable
Cash
Requirement 2:
Cash Adjustments
Date Amount No. Date Amount
2/4 2,700$ Checks: 321 2/2 4,700$
2/11 2,300 322 2/8 400
327 2/28 1,900
6,800$ 12,600$
13,900
a. 13,145$
b. 1,600$
c.
Deposits
Additional information:
Ending cash balance from bank stmt.
Cash receipts outstanding from 2/26-2/28
Checks outstanding:
325
Given Data P04-02:
Receipts
Balance on February 1
February 28, 2018
Cash Ledger
OSCAR'S RED CARPET STORE
6,210$ 5,100$
3,180 (400)
Entry Account Debit Credit
(a) 1,190 <--Correct!
Bank Reconciliation
DIAZ ENTERTAINMENT
May 31, 2018
Bank's Cash Balance
Company's Cash Balance
Per general ledger
Problem 04-03
Requirement 1:
Per bank statement
DIAZ ENTERTAINMENT
Requirement 2:
Deposits outstanding
Cash
Cash Adjustments
Bank balance per
NSF check
Cash Balance Cash Balance
May 1, 2018 Deposits Checks May 31, 2018
5,280$ 12,040$ 12,220$ 5,100$
Date Desc. Amount Date No. Desc Amount
5/3 Sales 1,460$ 5/7 471 1,300$
5/10 Sales 1,890 5/12 472 1,670
5/17 Sales 2,520 5/15 473 3,600
No. Total No. Total
7 10,050$ 9 10,100$
Date Amount Desc. Date NO. Amount Desc Date Amount
5/4 1,460$ DEP 5/1 469 550$ CHK 5/1 5,710$
5/11 1,890 DEP 5/2 470 430 CHK 5/2 5,280
5/18 2,520 DEP 5/9 471 1,300 CHK 5/4 6,740
Desc: DEP INT SF
NOTE CHK NSF
EFT
DIAZ ENTERTAINMENT
Cash Account Records
May 1, 2018 to May 31, 2018
for
Legal fees
Property tax
Salaries
Deposits
Checks
Given Data P04-03:
Nonsufficient funds
Service fees
Customer check
Interest earned
MIDWEST BANK
Withdrawals and Debits
Withdrawals and Debits
Daily Balance
6,210$
Checking Account Statement
Ending Balance
May 31, 2018
May 31, 2018
Diaz Entertainment
Electronic funds transfer
Note collected
Customer deposit
Deposits and Credits
Beginning Balance
Deposits and Credits
May 1, 2018
6,260$
Student Name:
Class:
Date Account Debit Credit
October 2 8,500
8,500 <--Correct!
October 12 1,500
1,500 <--Correct!
October 19 4,400
4,400 <--Correct!
McGraw-Hill
Instructor
Problem 04-05
BALBOA'S GYM
Transactions
Requirement 1:
Cash
Dividends
(Pay for current month advertising)
Cash
Advertising Expense
(Receive membership dues)
Service Revenue
Cash
Student Name:
Class:
McGraw-Hill
Instructor
Problem 04-05
October 1 16,600 4,800 October 9
October 2 8,500 1,500 October 12
14,100$
(1,500)
(6,900)
16,600
17,800$
Correct!
17,800
For the month ended October 31
Statement of Cash Flows
BALBOA'S GYM
Cash
Requirement 3:
Requirement 4:
Cash inflows:
Cash Flows from Operating Activities
From customers
Cash Outflows:
For advertising
For insurance
Cash at the beginning of the month
Cash at the end of the month
Ending cash balance
Requirement 5:
October
28,500$
12 1,500$
19 4,400$
22 6,900$
BALBOA'S GYM
Given Data P04-05:
Receive membership dues for month
October Transactions
Pay dividends to stockholders
Pay six months' liability insurance beginning Nov. 1
Pay for advertising
