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EXAMINATION $-$ KEEP $2$ DECIMALS

SECTION $1$

"Cardela Office Supply" company received a bank statement showing a balance of $$47,900$ as of June $30,$ The firm records showed a book balance of $$49,500.$ The difference between the two balances was caused following items. Prepare a bank reconciliation statement for the firm as of June $30,2023$ and the nece ournal entries from the statement.

a$)$ Outstanding checks : Check $255$ for $$1,500,$ Check $264$ for $$525,$ Check $267$ for $$90$

b$)$ Check $240$ was issued by Cardela for $$4,500$$ but was recorded by the bank as $$5,500$

c$)$ NSF check of $$885$ issued by Wilson company, a credit customer

d$)$ Deposit in transit of $$1,800$

e$)$ Bank service fee of $$30$

CTION $2$

Nal$-$Mart" organization signed a contract to buy $200$ chairs $(10$$$/$each$)$ from "Ruby" organization. On M orning, "Wal$-$Mart" truck came to "Ruby" warehouse, load $150$ chairs into the truck and left. Should counting department record a sale's transaction? Because Wal$-$Mart hasn't paid anything yet.... plain your answer using the accounting principles

ETION $3$

er several months of planning, Mary Tratini started a called "Italian Product". The following business vities occurred during it's first month $($June $1-30,2023).$ PERFORM THE ACCOUNTING CYCL

Supplies purchases $$3,400(+$tax $)$ on credit

Purchased $$25,000$ of equipment on credit. We believe it's going to be used for $9$ years and to scrap $($garbage$)$ at the end of those years. Straight$-$line method

Salary payment to Anupam St$-$Pierre. He worked $140hr$ at $25\mathrm{.}80\frac{\text{\$}}{h}r.$ Federal tax rate is $13\%$ Provincial tax rate is $14\%$

Services rendered to customers $$4,000(+$ tax$).$ Received cash payment

The owner deposited $$30,000$ cash in the business bank account

Insurance premium payment, $$10,700$ cash $($cover from June$\mathrm{.}2023$ to May$\mathrm{.}2024)$

Pay amount due to Provincial government $($related to salary only$)$

Purchase machinery, $7,800$$ cash. Should be used for $5$ years and could be sold $4,200$$ at the those years. Declining balance method, rate $26\mathrm{.}6\%$

Record any missing journal entries

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