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The cash account for Norwegian Medical Co. at April 30 indicated a balance of $84,457. The indicated a balance of $127,190 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $33,310. b. A deposit of $17,610, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collocted $28,248 on a $26,400 note, including interest of $1,848 d. A check for $1,100 refurned with the statement had been incorrectly recorded by Norwegian Medical Co. as $110. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $680 had been erroneously charged by the bank as $860. 1. Bank service charges for April amounted to $45. Required: 1. Prepare a bank reconciliation. Be sure to complete the statement heading. Reter to the Labels and Amount Descriptions for the exact wording of toxi entries. "Add:" or "Deduct:" wit automatically appoar if it is required. Entor an amounts as positive numbers. 2. Joumakze the necessary entries. The accounts have not been closed. Rever to the chait of accounts for the exact wording of the account tales. CNOW joumals do not use lines for joumad explanations. Every Ane on a joumal page is used for debit or credt entries. CNOW joumais wil automaticaly indent a credit entry when a credt amount is entered. 3. If a balance sheet is prepared for Nonwogian Medioat Co. on Apri 30, what amount should be reported as cash? Chart of Accounts Norwegian Medical Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 141 Merchandise Inventory 510 Cost of Merchandise Sold 145 Office Supplies 515 Credit Card Expense 146 Store Supplies 516 Cash Short and Over 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 191 Office Equipment 532 Delivery Expense 192 Accumulated Depreciation-Office Equipment 533 Insurance Expense 193 Store Equipment 534 Office Supplies Expense 194 Accumulated Depreciation-Store Equipment 535 Rent Expense 536 Repairs Expense LIABILITIES 537 Selling Expenses LIABILITIES 537 Selling Expenses 211 Accounts Payable-Universal Supply Co. 538 Store Supplies Expense 221 Notes Payable 561 Depreciation Expense-Office Equipment 222 Interest Payable 562 Depreciation Expense-Store Equipment 231 Salaries Payable 590 Miscellaneous Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing Labels and Amount Descriptions Labels April 30 For the Month Ended April 30 Amount Descriptions Bank error in charging check as $680 instead of $860 Bank error in charging check as $860 instead of $680 Bank service charges Check for $860 returned because of insufficient funds Deposit of April 30, not recorded by bank Error in recording check Error in recording deposit Note and interest collected by bank Outstanding checks Bank Reconciliation Norwegian Medical Co. Bank Reconciliation (Label) 1. Cash balance according to bank statement 2 3 5 Adjusted balance 7 Cash balance acconding to companys recoods 1 10 I1 Adjusted balance 2. Journalize the necessary entries. The accounts have not been closed. Fefer to the chart of accounts for the exact wording of the account tites. CNOW journals do not use lines f joumal explanations. Every line on a joumal page is used for debit or credlit entries. CNOW joumals will aufomatically indent a crodit entry when a credit amount is entered. 3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash? The cash acoount for Norwegian Medical Co. at April 30 indicaled a balanoe of \$84,457. The bank slatement indicated a balance of $127,190 on Aprit 30 . Comparing the barik statement and the accomparying canceled checks and memos with the records revealed the following reconciling iteens: a. Checks cutstanding totaled $33,310. b. A doposit of 517.610 , representing receipts of Apri 30, had been made too late to appear on the bank statement. c. The bank collected $28,248 on a $26,400 note, including interest of $1,848. d. A check for $1,100 roturned with the statement had been inconectly recoeded by Norwegian Medical Co. as $110. The check was for the payment of an obligation to Universat Supply Co, for a purchase on account. 6. A check drawn for $600 had been erroneously charged by the bank as $860. 1. Bank service charges lor Apeil amounted to $45. Required: 1. Prepare a bank reconoliaton. Be sure to complete the statement heading. Filer to the Labels and Amount Descriptions for the exact wording of text entries, "Add:" or "Deduct? will aufomatically appear if it is required. Enter all amounts as positive numbers. 2. Journalive the necessary entries. The acoounts have not been cosed feter to the chart af accounts for the exact wording of the account tities. CNOW joumals do not use anes for joumal explanations, Evory ane on a jounal page is used for debir or credit entries. CNOW joumals wit automaticaiy indent a credit enty when a crodir amount is enterod. 3. If a balance sheet is propared for Nonwegian Medical Co. an April 30, what amount sheuld be reported as cash? Norwegian Medical Co. 192 Accumulated Depreciation-Office Equipment 533 Insurance Expense 193 Store Equipment 534 Office Supplies Expense 194 Accumulated Depreciation-Store Equipment 535 Rent Expense 536 Repairs Expense LIABILITIES 537 Selling Expenses 211 Accounts Payable-Universal Supply Co. 538 Store Supplies Expense 221 Notes Payable 561 Depreciation Expense-Office Equipment 222 Interest Payable 562 Depreciation Expense-Store Equipment 231 Salaries Payable 590 Miscellaneous Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing Labels and Amount Descriptions Bank Reconciliation Bank Reconciliation (Label) Cash balance according to bank statement 2 3 Adjusted balance 6. 7 Cash balance according to company's records b. 9 10 11 Adjusted balance 2. voumatize the necessacy entries. The accounts have not been closed. Aofer to the chart of accounts for the exact wording of the account tides. CNOW journals do not use ines for joumat explanations. Every line on a joumal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash

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