The Following Information Is Available for Golden Image, Inc

question 54

Essay

The following information is available for Golden Image, Inc.:
∙ The bank statement indicated a monthly service charge of $200.
∙ Golden Image made a deposit of $2,660 on June 30, but this deposit did not appear on the bank statement until July 6.
∙ The bank collected an account receivable of $900 from one of Golden Image's customers.
∙ The bank also collected interest revenue for Golden Image of $99.
∙ The bank also returned a nonsufficient funds check for $378 from John Able, one of Golden Image's customers.
∙ Checks #1874 for $1,140, #1898 for $609, and #1899 for $875 were written by Golden Image and sent to the respective companies, but these checks do not appear on the bank statement.
∙ The balance on the bank statement as of June 30 was $16,711.
∙ On June 30, the Cash account from Golden Image's books showed an amount of $16,326.
Required:
1. Prepare the bank reconciliation at June 30 for Golden Image, Inc.
2. Prepare the necessary journal entries by Golden Image, Inc., at June 30.

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Definitions:

Pituitary Gland

A small, pea-sized gland located at the base of the brain, which produces hormones that regulate critical body functions and influence several other hormone glands.

Hormones

Chemical messengers produced by glands in the endocrine system that regulate various bodily functions and processes, such as growth, metabolism, and mood.

Neurotransmitters

Chemicals in the brain that transmit signals between neurons, playing a crucial role in shaping everyday functions and mood.

Occipital Lobe

A region at the back of the brain that is primarily responsible for visual processing.