1. Problem 1 Data for bank reconciliation a FSA's Cash account shows a balance of $2,199.11 on January 31. b. The January 31 bank balance is $4,021.05. c. The bank statement shows that FSA eamed $38.79 of interest on its bank balance during January. This amount was added to FSA's bank balance. d. FSA pays utilities ($220) and insurance ($110) by EFT. The FSA cheques that did not clear the bank by January 31 are provided in the accompanying table f. The bank statement includes a donation of $875, electronically deposited to the bank for FSA. g. The bank statement lists a $10.90 bank service charge. h. On January 31, the FSA treasurer deposited $16.25, which will appear on the bank statement. 1. The bank statement includes a $294 deposit that FSA did not make. The bank added $294 to FSA's account for another company's deposit. J. The bank statement includes two charges for returned cheques from donors. One is a $405 cheque received from a donor with the imprint "Unauthorized Signature. The other is a nonsufficient funds cheque in the amount of $147.17 received from a dient. BANK: Cheque No. 237 291 293 294 295 296 Subtotal Less: BOOKS: Balance, January 31 Add: Add: Amount $ 46.90 147.00 Less: 508.45 11.17 608.01 9.18 102.56 Frobisher Services Association Bank Reconciliation January 31/nRequirement 2 Requirement 2. Journalize the January 31 transactions needed to update FSA's Cash account include an explanation for each entry Begin by recording the interest earned on the bank balance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent) Account Titles Dele January 31 Next, record the EFT payment of utilities (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Account Title Debit Credit Date January 31 Credit In this step, record the EFT payment of insurance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Account Te Debit Credit January 31 Next, record the donation that was electronically deposited to the bank for FSA (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Account Tides Debit Credit January 31 In this step, record the bank service charge. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent) Debil Cred Account Tides Date January 31 The final journal entry to record is for the nonsufficient funds and "Unauthorized Signature" cheques returned by the bank. Combine both of the returned cheques into one journal entry (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent) Account Tides Debit Creek Date January 31/nRequirement 3 Requirement 3. How do a bank account and a Bank Reconciliation help a manager contra cash? How does a bank account help a manager control cash? Complete the following sentences for A bank account helps control cash by providing the company's own records and quickly conectany errors. How does a Bank Reconciation halpa manager control cash? Complete the following sentences corectly accounts for t The Bank Reconciation here that the balance of to report on the 2 Droblom7 The bank provides a detailed list of the company's that managers can compare to and that the bank and book records of cash are comect. The Bank Reconciliation establishes the

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