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I need help with these two problems if someone could help it would be greatly appreciated.?

The following information is available to reconcile Clark Company’s 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 $26,193 debit balance, but its July bank statement shows a $28,020 cash balance. b. Check No. 3031 for $1,380 and Check No. 3040 for $552 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $336 and Check No. 3069 for $2,148, both written in July, are not among the canceled checks on the July 31 statement. c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 3056 for July rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,230. d. A credit memorandum enclosed with the July bank statement indicates the bank collected $9,000 cash on a noninterest-bearing note for Clark, deducted a $45 collection fee, and credited the remainder to its account. Clark had not recorded this event before receiving the statement. e. A debit memorandum for $805 lists a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Jim Shaw. Clark has not yet recorded this check as NSF. f. Enclosed with the July statement is a $15 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received. g. Clark’s July 31 daily cash receipts of $10,152 were placed in the bank’s night depository on that date, but do not appear on the July 31 bank statement. Required 1. Prepare the 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. Analysis Component 3. Assume that the July 31, 2005, bank reconciliation for this company is prepared and some items are treated incorrectly. For each of the following errors, explain the effect of the error on (i) the adjusted bank statement cash balance and (ii) the adjusted cash account book balance. a. The company’s unadjusted cash account balance of $26,193 is listed on the reconciliation as $26,139. b. The bank’s collection of the $9,000 note less the $45 collection fee is added to the bank statement cash balance on the reconciliation. This is the final and I just need help understanding it. Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the company’s accounting work is completed through the end of April and its ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and events (terms for all its credit sales are 210, n30 unless stated differently): May 1 Issued Check No. 3410 to S&P Management Co. in payment of the May rent, $3,710. (Use two lines to record the transaction. Charge 80% of the rent to Rent Expense—Selling Space and the balance to Rent Expense—Office Space.) 2 Sold merchandise on credit to Hensel Company, Invoice No. 8785, for $6,100 (cost is $4,100). 2 Issued a $175 credit memorandum to Knox, Inc., for defective (worthless) merchandise sold on April 28 and returned for credit. The total selling price (gross) was $4,725. 3 Received a $798 credit memorandum from Peyton Products for the return of merchandise purchased on April 29. 4 Purchased the following on credit from Gear Supply Co.: merchandise, $37,072; store supplies, $574; and office supplies, $83. Invoice dated May 4, terms n10 EOM. COMPREHENSIVE PROBLEM— PERPETUAL Colo Company excel mhhe.com/larson Larson−Wild−Chiappetta: Fundamental Accounting Principles, Seventeenth Edition 7. Accounting Information Systems Text © The McGraw−Hill Companies, 2004 302 Chapter 7 Accounting Information Systems 5 Received payment from Knox, Inc., for the balance from the April 28 sale less the May 2 return and the discount. 8 Issued Check No. 3411 to Peyton Products to pay for the $7,098 of merchandise purchased on April 29 less the May 3 return and a 2% discount. 9 Sold store supplies to the merchant next door at their cost of $350 cash. 10 Purchased $4,074 of office equipment on credit from Gear Supply Co., invoice dated May 10, terms n10 EOM. 11 Received payment from Hensel Company for the May 2 sale less the discount. 11 Purchased $8,800 of merchandise from Garcia, Inc., invoice dated May 10, terms 210, n30. 12 Received an $854 credit memorandum from Gear Supply Co. for the return of defective office equipment received on May 10. 15 Issued Check No. 3412, payable to Payroll, in payment of sales salaries, $5,320, and office salaries, $3,150. Cashed the check and paid the employees.

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1. I"ve sent the Excel file to you.