Task Team of FUNdaMENTAL aCCOUNtINg School of Business. Sun Yat-sen University 3. The following information is available to reconcile Wild Willys Whitewash Co. book balance of cash with its bank statement cash balance as of July 31, 2005 a. After all posting is complete on July 31, the companys Cash account has a $13, 805 debit balance. but its bank statement shows a $14350 balance b. Checks outstanding total $4. 180 c. In comparing the canceled checks returned by the bank with the entries in the accounting ecords, it is found that Check No. 2222 for July phone bill was correctly written and drawn for S720 but was erroneously entered in the accounting records as $270 d. The bank charged Wild Willys $40 for a safe-deposit box. Wild Willys does not have a safe-deposit box. e. A debit memorandum for $125 lists a $100 NSF check plus a $25 NSF charge. The check had been received from the Public Trust bank. Wild Willy has not yet recorded this check as NSF f. Enclosed with the statement is a $20 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received g. The July 31 daily cash receipts of $3,000 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement Required Preparation Component (1)Prepare a bank reconciliation for this company as of July 31, 2005 (2)Prepare the journal entries necessary to bring the companys book balance of cash into conformity with the reconciled cash balance as of July 31, 2005 4. Sheila and The Screamers most recently reconciled its bank statement and book balances of cash on august 31 and it showed two checks outstanding, No. 6248 for $205 and No 6250 for $480 The following information is available for its September 30, 2002, reconciliation From the September 30 Bank Statement From Sheila's Accounting Records Cash Receipts Deposited Cash Date Debit 300.00 450.00 18 7.200.00 1,200.00 .110.00 Cash DisbursementsTask Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University 3.The following information is available to reconcile Wild Willy’s Whitewash Co. book balance of cash with its bank statement cash balance as of July 31, 2005: a. After all posting is complete on July 31, the company’s Cash account has a $13,805 debit balance, but its bank statement shows a $14,350 balance. b. Checks outstanding total $4,180. c. In comparing the canceled checks returned by the bank with the entries in the accounting records, it is found that Check No. 2222 for July phone bill was correctly written and drawn for $720 but was erroneously entered in the accounting records as $270. d. The bank charged Wild Willy’s $40 for a safe-deposit box. Wild Willy’s does not have a safe-deposit box. e. A debit memorandum for $125 lists a $100 NSF check plus a $25 NSF charge. The check had been received from the Public Trust bank. Wild Willy has not yet recorded this check as NSF. f. Enclosed with the statement is a $20 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received. g. The July 31 daily cash receipts of $3,000 were placed in the bank’s night depository on that date but do not appear on the July 31 bank statement. Required Preparation Component (1)Prepare a bank reconciliation for this company as of July 31, 2005. (2)Prepare the journal entries necessary to bring the company’s book balance of cash into conformity with the reconciled cash balance as of July 31, 2005. 4.Sheila and The Screamers most recently reconciled its bank statement and book balances of cash on August 31 and it showed two checks outstanding, No. 6248 for $205 and No. 6250 for $480. The following information is available for its September 30, 2002, reconciliation: From the September 30 Bank Statement From Sheila’s Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 300.00 13 450.00 18 7,200.00 19 960.00 30 1,200.00 _________ 10,110.00 Cash Disbursements Check Cash