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Murdstone Co TAL... TAL... You've just been accountant the undone Controle dos Servo Motory. There were Co. has asked for your assistance in ting in some missing date for econo'y tuwe te prebrano e como Wern Chart of Accounts CHART OF ACCOUNTS Murdstone Co General Ledger ASSETS REVENUE 410 610 Rent Revenue 110 Cash 111 Petty Cash 192 Accounts Receivable 115 Merchandise Inventory 117 Once Supplies 118 Prepaid insurance 120 Land 123 Store Equipment 124 Accumulated Depreciation Store Equipment 125. EXPENSES 510 Cour of Medie Sold 596 Cash Sport and Over 520 Sales Salles per 621 Adverting Expense 522 Depreciation Expense Store Egon 523 Dave En Previous Check My Workmore Check My Work uses romaning 115 Merchandise Inventory 117 Office Supplies 118 Prepaid Insurance 120 Land 123 Store Equipment 124 Accumulated Depreciation Store Equipment 125 Office Equipment 126 Accumulated Depreciation Office Equipment EXPENSES 510 Cost of Merchandise Sold 516 Cash Short and Over 520 Sales Salaries Expense 521 Advertising Expense 622 Depreciation Expense-Store Equipment 523 Delvery Expense 529 Miscellaneous Saling Expense 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 539 Miscellaneous Administrative Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 212 Uneamed Rent 213 Customer Refunds Payable 215 Notes Payable EQUITY 310 Edward Murdstone, Capital 311 Edward Murdstone, Drawing Cash Short and Over The controller has completed the accounts for the Cash and Sales accounts as of January 30, but noods to attend an important contorence in another cly. She has requested that you prepare the account for the Cash Short and Over account as of January 30 also You are told that the balance of the account is zero as of the beginning of January, and that all the company's sales are in cash Review the following accounts, and then scroll down to complete the Cash Short and Over Taccount and answer the associated question that follows Cash Balance 1/1/45 5,500 1/2/Y5 Establish Petty (sh 500 1/5/45 2.775 1/12/Y5 6,255 1/23/Y5 3.270 1/30/Y5 4,450 Balance 21,750 Sales 0 Balance 1/1/45 2.780 1/5/Y5 6,240 1/12/45 3.290 1/23/45 Previous Balance 1/1/45 5,500 1/2/Y5 Establish Petty Cash 1/5/Y5 500 2.775 1/12/Y5 6.255 1/23/Y5 3.270 1/30/Y5 4,450 Balance 21.750 Sales Balance 1/1/Y5 1/5/45 2.780 1/12/Y5 6,240 1/23/Y5 3.290 1/30/Y5 4,400 Balance 16.710 Review the Taccounts previously shown, and then complete the Cash Short and Over Taccount and the following associated question Cash Short and Over Balance 1/1/Y5 0 Review the accounts previously shown, and then complete the Cash Short and Over Taccount and the following associated question Cash Short and Over Balance 1/1/75 0 Balance What will happen to the ending balance in the Cash Short and Over account at the end of the accounting period? It will be added to the other revenue section of the income statement The discrepancy must be reported to the Securities and Exchange Commission The discrepancy must be reported on the company website It will be a miscellaneous expense on the income statement retty Cash Murdstone Co. issued a check on January 2 to establish a alty cash fund of $500. On January 31, the amount of cash in the petty cash funds 5440. The company would like to check to replenish the fund, based on the following summary of petty cash receipts Account Office Supplies Miscellaneous Administrative Expense Amount on Receipt $10.00 23.00 The company's policy is to record any missing funds in the Cash Short and Over account The new Intern han prepared a proposed joumal entry to record the replenishing of the petycoon tund PAGE JOURNAL ACCOUNTING EQUATION DESCRIPTION POST RY CREDIT ASSETS LITIES tov DENT 5100 DATE Jan 31 Petty Cash Cash + . 5300 Prepare for your discussion with the intern by creating the corrected journal entry for the planet of the petty cash und Refer to the Churt of Accounts for exact worang of account titles Drugenzone sessionLocatorinprogress-false Prepare for your discussion with the inter by creating the corrected journal entry for the replenishment of putty cashond Roterone Chart of Accounts for exact wording of our titles RAGE JOURNAL ACCOUNTING EQUATION DATE DESCRPTION POTAT DENT CREDIT NWTS LIBRE EQUITY Bank Reconciliation The company's accounting intern has prepared the end of January bank tenonciliation from the bank statement and is worried because the Adjusted Balance amounts do not agree Aler reviewing the bank reconciliation scroll down for the next steps in helping the intern Murdstone Co Bank Reconciliation Bank Reconciliation The company's accounting intern has prepared the end of January bank reconciliation from the bank statement, and is worried because the Adjusted Balance amounts do not agree. After reviewing the bank reconciliation, scroll down for the next steps in helping the Intern Murdstone Co Bank Reconciliation January 31, 2045 $23,55798 1 Cash balance according to bank statement Deduct deposit of May 31, not recorded by bank 12,125 25 $11.432.73 3 Add outstanding checks: 5 No. 174 562.00 5700 No 125 1.25000 ? No. 129 1,369.00 $12,80173 Adjusted balance $51,560.88 10 Cash balance according to Murdstone Co 25,475.40 11 Add check returned because of insufficient funds 575.03628 11

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