Use the following bank statement and T-account to prepare the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 3 May 29 May 30 May 31 #2 #4 #5 #6 Deductions: # 8 Debit Checks $ 100 190 110 105 145 Up-to-Date Cash Balance Cash (A) 560 140 560 330 725 Ending Balance per Bank Statement Additions: Bank Statement BANK STATEMENT Deposits $ 140 560 100 100 190 110 105 115 145 NSF check Service charge Credit $ Other May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 Bank Reconciliation May 31 0 0 $ 140 Deductions: 95 Balance $ 560 600 270 160 615 375 Company's Books Ending Balance per Cash Account Additions: 0 0 Up-to-Date Cash Balance $ LA O O
Use the following bank statement and T-account to prepare the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 3 May 29 May 30 May 31 #2 #4 #5 #6 Deductions: # 8 Debit Checks $ 100 190 110 105 145 Up-to-Date Cash Balance Cash (A) 560 140 560 330 725 Ending Balance per Bank Statement Additions: Bank Statement BANK STATEMENT Deposits $ 140 560 100 100 190 110 105 115 145 NSF check Service charge Credit $ Other May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 Bank Reconciliation May 31 0 0 $ 140 Deductions: 95 Balance $ 560 600 270 160 615 375 Company's Books Ending Balance per Cash Account Additions: 0 0 Up-to-Date Cash Balance $ LA O O
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EB: Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance:...
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Use the following bank statement and T-account to prepare the May 31 bank reconciliation.
BANK STATEMENT | ||||||
Date | Checks | Deposits | Other | Balance | ||
---|---|---|---|---|---|---|
May 1 | $ 560 | |||||
May 4 | #2 | $ 100 | $ 140 | 600 | ||
May 12 | #4 | 190 | NSF check | $ 140 | 270 | |
May 28 | #5 | 110 | 160 | |||
May 30 | #6 | 105 | 560 | 615 | ||
May 31 | #8 | 145 | Service charge | 95 | 375 |
Cash (A) | |||
---|---|---|---|
Debit | Credit | ||
May 1 | 560 | ||
May 3 | 140 | 100 | May 3 #2 |
100 | May 4 #3 | ||
190 | May 8 #4 | ||
110 | May 11 #5 | ||
105 | May 21 #6 | ||
May 29 | 560 | 115 | May 29 #7 |
May 30 | 330 | 145 | May 30 #8 |
May 31 | 725 |
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