Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April and recorded the following entries. A. The owners invested $8,500 from their personal account to the business account B. Paid rent $850 with check #101. C. Initiated a petty cash fund $550 with check #102. D. Received $800 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $9,000, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: Office supplies $250, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $37. Check #106. J. Increased Petty Cash by $100, check #107. A. Cash 8,500 Inner Resources Company, Capital 8,500 В. Rent Expense 850 Cash 850 C. Petty Cash 550 Cash 550 D. Cash 800 Services Income 800 E. Office Supplies 180 Cash 180 F. Computer Equipment 9,000 Cash 1,600 Accounts Payable 7,400 G. Cash 1,200 Services Income 1,200 н. Wages Expense 560 Cash 560 I. Office Supplies 250 Maintenance Expense 140 Miscellaneous Expense 65 Cash Over and Short 58 Cash 513 J. Petty Cash 100 Cash 100

McGuire Corporation began operations in 2024. The company purchases computer equipment from manufacturers and then sells to retail stores. During 2024, the bookkeeper used a check register to record all cash receipts and cash disbursements. No other journals were used. The following is a recap of the cash receipts and disbursements made during the year. O Cash receipts: Issue of common stock Collections from customers Borrowed from local bank on April 1, note signed requiring principal and interest at 12% to be paid on March 31, 2025 Total cash receipts Cash disbursements: Purchase of inventory Payment of salaries Purchase of office equipment Payment of rent on building Miscellaneous expense Total cash disbursements $ 75,000 335,000 37,000 $ 447,000 Required: Prepare an income statement for 2024 and a balance sheet as of December 31, 2024. $ 202,500 80,500 45,000 11,250 13,100 $352,350 You are called in to prepare financial statements on December 31, 2024. The following additional…

The following information is available for the FRAN Company for the month of December 2019 1. On December 31, 2019 the balance in the company's Cash account has a balance of $ 15,862 . 2. The company's bank statement shows a balance December 31, 2019 of $ 19,454 . 3. Outstanding checks at December 31, 2019 total $ 2,967 . 4. A deposit placed in the bank's night depository on December 31, 2019 totaling $ 1,351 did not appear on the bank statement. 5. Included with the bank statement was a debit memorandum in the amount of $ 26 for bank service charges. It has not been recorded on the company's books. 6. Included with the bank statement was a credit memorandum for collection of a notes receivable for $ 1,243 . It has not been recorded on the company’s books. 7. A cash sales on December 15, 2019 that totaled $ 916 was incorrectly journaled and posted as $ 961 . 8. A cash sales on December 27, 2019 that totaled $ 461 was incorrectly journaled and posted as $ 416 . 9. Check #145 was written…

Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month of August, Year 3. As of August 31, the bank statement shows a balance of $13,995. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,933. A review of the bank statement revealed the following information: A deposit of $1,700 on August 31, Year 3, does not appear on the August bank statement. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3,970 but was recorded on the books as $4,870. When checks written during the month were compared with those paid by the bank, three checks amounting to $4, 935 were found to be outstanding. A debit memo for $73 was included in the bank statement for the purchase of a new supply of checks. Required Prepare a bank reconciliation at the end of August showing the true cash balance. (Negative amounts should be indicated with minus sign.) HALL'S CARDS Bank Reconciliation August…