Abby Timmons ACC 201 – FINANCIAL ACCOUNTING: SPRING 2015; Section 3001, WebCollege CHAPTER 4 PROBLEMS instructions | help Time remaining: 5:55:05 Use the pop up button to bring up the information needed to answer this question. [The following information applies to the questions displayed below.] The cash records and bank statement for the month of May for Diaz Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2015, to May 31, 2015 Cash Balance May 1, 2015 + Deposits – Checks = Cash Balance May 31, 2015 $5,370 $11,590 $11,680 $5,280 Deposits Checks Date Desc. Amount Date No. Desc. Amount 5/3 Sales $ 1,370 5/7 471 Legal fees $ 1,210 5/10 Sales 1,800 5/12 472 Property tax 1,580 5/17 Sales 2,430 5/15 473 Salaries 3,510 5/24 Sales 2,900 5/22 474 Advertising 1,410 5/31 Sales 3,090 5/30 475 Supplies 460 5/31 476 Salaries 3,510 $11,590 $11,680 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH MIDWEST BANK Looking Out For You Member FDIC Account Holder: Diaz Entertainment 124 Saddle Blvd. Bowlegs, OK 74830 Account Number: Statement Date: 7772854360 May 31, 2015 Beginning Balance Deposits and Credits Withdrawals and Debits Ending Balance May 1, 2015 No. Total No. Total May 31, 2015 $ 6,170 7 $ 9,672 9 $ 9,371 $ 6,471 Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 5/4 $ 1,370 DEP 5/1 469 $ 460 CHK 5/1 $ 5,710 5/11 1,800 DEP 5/2 470 340 CHK 5/2 5,370 5/18 2,430 DEP 5/9 471 1,210 CHK 5/4 6,740 5/20 1,100 NOTE 5/11 310 NSF 5/9 5,530 5/20 51 INT 5/12 472 1,580 CHK 5/11 7,020 5/25 2,900 DEP 5/18 473 3,510 CHK 5/12 5,440 5/31 21 INT 5/20 510 EFT 5/18 4,360 5/25 474 1,410 CHK 5/20 5,001 5/31 41 SF 5/25 6,491 5/31 $ 6,471 $ 9,672 $9,371 Desc. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer Additional information: a. The difference in the beginning balances in the company’s records and the bank statement relates to checks #469 and #470, which are outstanding as of April 30, 2015. b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account. 1. Required: 1. Prepare a bank reconciliation for Diaz’s checking account on May 31, 2015. (Total entries to the same account together when entering in the bank reconciliation and journal entry carousel.) rev: 10_28_2014_QC_57681 check my workebook & resources 2. 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.) check my workebook & resources ©2015 McGraw-Hill Education. All rights reserved.
Why Choose Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Our Services
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
Essays
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admissions
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
Coursework
Revision Support
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.