El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows:

Balance per bank, November 30 $3,231
Add: Deposits outstanding $1,200
Less: Checks outstanding
#363 $123
#365 201
#380 56
#381 86
#382 340 (806)
Adjusted balance per bank, November 30 $3,625

The company's general ledger checking account showed the following for December:

Balance, December 1 $3,625
Receipts $42,650
Disbursements (41,853)
Balance, December 31 $4,422

The December bank statement contained the following information:

Balance, December 1 $3,231
Deposits 43,000
Checks processed (41,918)
Service charges (22)
NSF checks (440)
Balance, December 31 $3,851

The checks that were processed by the bank in December include all of the outstanding checks at the end of November except for check#365. In addition, there are some December checks that had not been processed by the bank by the end of the month. Also, you discover that check#411 for $320 was correctly recorded by the bank but was incorrectly recorded on the books as a $230 disbursement for advertising expense. Included in the bank's deposits is a $1,300 deposit incorrectly credited to the company's account. The deposit should have been posted to the credit of the Los Gatos Company. The NSF checks have not been redeposited and the company will seek payment from the customers involved.

Required:

a. Prepare a bank reconciliation for the El Gato checking account at December 31, 2016.
b. Prepare any necessary adjusting journal entries indicated.

Explanation:

(a) See the bank reconciliation statement below

                             EI Gato Painting company

                          Bank Reconciliation Statement

                                        31-Dec-21

Particulars                                                                               Amount

Balance on bank statement                                          $3,851.00        

Additions:

Outstanding Deposits

($42,650 - $43,000+                         $2,150.00

$1,200 + $1,300)

Total Additions                                                              $2,150.00

Deductions:  

Outstanding checks

($41,853 + $90 -                               $831.00

$41,918 + $806)

Bank Error                                         $1,300.00

Total Deductions                                                        $2,131.00

Adjusted bank balance                                                 $3,870.00

Balance in books                                                            $4,422.00

Deductions:  

Service Charge                               $22.00  

NSF Check                                      $440.00  

Incorrect recording of check 411    $90.00  

Total Deductions                                                           $552.00

Adjusted book balance                                               $3,870.00

(b)  

               Journal Entries - EI Gato Painting

Date             Particulars                               Debit                Credit

31-Dec     Accounts receivables Dr         $440.00  

 2021       Miscellenous Expenses Dr     $22.00  

                Advertising Expense Dr           $90.00  

                To Cash                                                             $552.00

i believe the answer is: streets and roads

public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.