McGraw Hill Connect, Chapter 8 Accounting assignment includes: CHAPTER 8 HOMEWORK and CHAPTER 8 QUIZ completed online through McGraw Hill Connect site with my credentials DUE NO LATER THAN Sunday, 04-14-2013 AS WELL AS: Upload DOCUMENTS of Chapter 8 TEST submitted to me through homework market DUE NO LATER THAN Sunday 04-14-2013 —- SEE BELOW: For $40.00 total, due no later than 04-14-2013 Down payment of $15 Chapter 8 TEST document: PROBLEM #1 – 22 points Greenview Food Store developed the following information in recording its bank statement for the month of March 20XX. Balance per books on March 31 $ 829 Balance per bank on March 31 $ 7,030 1) Checks written in March but still outstanding, $5,200. 2) Checks written in February but still outstanding, $1,200. 3) Deposits of March 30 and 31 not yet recorded by bank, $3,100. 4) NSF check of customer returned by bank, $400. 5) Check #210 for $675 was correctly issued and paid by the bank but incorrectly entered in the cash payments journal as payment on account for $657, for payment to a creditor. 6) Bank service charge for March was $31. 7) A payment on account was incorrectly entered into the cash payments journal and posted to the accounts payable subsidiary ledger for $854 when check #318 was correctly prepared for $584. The check cleared the bank in March. 8) The bank collected a note receivable for the company for $3,000 plus $80 interest. Instructions: a) Prepare a bank reconciliation for the Greenview Food Store for the month of March 31, 20XX. b) Journalize the adjusting entries for Greenview Food Store on March 31, 20XX. Bank Reconciliation: Journal Entries: General Journal Date Description Debit Credit PROBLEM #2 – 18 points Jenrob Company completed the following selected transactions during January 20XX. January 1 Established a petty cash fund of $500 15 The cash sales for the day per the register tape were $3,018. The actual cash received from cash sales were $3,011. 31 Petty cash on hand was $123. Replenished the petty cash fund for the following disbursements: Jan 2 Office supplies, $45 10 Postage due on letter, $29 (Miscellaneous Expense) 14 Office supplies, $56. 17 Postage stamps, $42 (Office Supplies). 20 Express charges on merchandise sold, $136 (Delivery Expense). 22 Repair to desk, $63 (Miscellaneous Expense). 30 Office supplies, $12. 31 The cash sales for the day per the register tape were $2,812. The actual cash received from cash sales were $2,822. 31 Decreased the petty cash fund by $100. General Journal Date Description Debit Credit What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense? Balance in Cash Short/Over? ______________________________ Revenue or Expense? ____________________________________
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