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Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Wolfpack Bread Inc. for August 20Y9: a. Cash balance according to the company's records at August 31, $43,420. b. Cash balance according to the bank statement at August 31, $42,340. C. Checks outstanding, $16,820. d. Deposit in transit, not recorded by bank, $17,980. e. A check for $348 issued in payment of an account to a supplier was erroneously recorded by Wolfpack Bread Inc. as $834. f. Bank debit memo for service charges, $181. Record the effects on the accounts and financial statements of the company based upon the information above. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Increase in Cash Balance Sheet Assets Liabilities Stockholders' Equity No effect + No effect Aug. 31. Statement of Cash Flows Income Statement Decrease in Cash Balance Sheet Assets Liabilities + Stockholders' Equity Aug. 31 Statement of Cash Flows Income Statement Using Bank Reconciliation to Determine Cash Receipts Stolen Pala Co. records all cash receipts on the basis of its cash register tapes. Pala Co. discovered during April 20Y1 that one of its sales clerks had stolen an undetermined amount of cash receipts when she took the daily deposits to the bank. The following data have been gathered for April: Cash in bank according to the company records $7,795 Cash according to the April 30, 20Y1, bank statement 18,005 Outstanding checks as of April 30, 20Y1 5,145 Bank service charges for April 25 Note receivable, including interest collected by bank in April 8,340 No deposits were in transit on April 30. a. Determine the amount of cash receipts stolen by the sales clerk. to a receipt from the bank as to the amount deposited, like a duplicate deposit ticket b. Daily reconciliation of the amount of cash receipts, comparing the cash register tapes would discourage theft of the cash receipts, as in the case of First Impressions Co

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