The cash account for Pala Medical Co. at June 30,
20Y1, indicated a balance of $11,555. The bank
statement indicated a balance of $13,460 on June 30, 20Y1.
Comparing the bank statement and the accompanying canceled checks
and memos with the records revealed the following reconciling
items:
The Cash Account For Pala Medical Co At June 30 20y1 Indicated A Balance Of 11 555 The Bank Statement Indicated A B 1 (43.97 KiB) Viewed 39 times
The Cash Account For Pala Medical Co At June 30 20y1 Indicated A Balance Of 11 555 The Bank Statement Indicated A B 2 (40.1 KiB) Viewed 39 times
1. Prepare a bank reconciliation. Pala Medical Co. Bank Reconciliation June 30, 20Y1 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance 1000 LA 000
2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 20Y1 June 30 b. June 30 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash?
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