Assignment:
On January 31, 2017, the general ledger of TAR shows a balance for cash of $45,000. Cash receipts yet to be deposited into the checking account total $12,000, while checks written by TAR but not yet processed by the bank total $36,525. The company's balance of cash does not reflect a bank service charge of $27 and interest earned on the checking account of $4; however, these amounts are included in the balance of cash of $69,502 reported by the bank as of the end of January.
Answer the following based on the process of doing the bank reconciliation:
1. $________Determine the total amount that is used to reconcile the Bank balance (include "-" if needed):
2. $_______Determine the total amount that is used to reconcile the Company cash balance (include "-" if needed)
3. $___________What is the balance in the company's cash account after the reconciliation?
Use the following to answer questions 4-7
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Transaction
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Cash involved?
(Yes or No)
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Type of CASH FLOW
Operating, Investing, Financing, or None
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4.
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Paid dividends to stockholders
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5.
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Paid for a new mower for the business
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6.
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Purchased supplies on account
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7.
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Paid interest on loan
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