Bank Reconciliation The cash account of Dixon Products reveals the following information: Cash Balance, 4/30 11,180 Deposits during May 37,600 41,620 Checks written during May The bank statement for May contains the following information: Bank balance, 4/30 $11,130 Add: Deposits during May 37,250 $48,380 Less: Checks paid during May $40,230 NSF check from Frolin, Inc. 190 Bank service charges 40 40,460 Bank balance, 5/31 $7,920 A comparison of detailed company records with the bank statement indicates the following information: At 4/30 At 5/31 Deposit in transit $800 $1,150 Outstanding checks 750 2,140 The bank amounts are determined to be correct. Required: Question Content Area 1. Prepare a bank reconciliation for May. Dixon ProductsBank Reconciliation ScheduleMay 31 Cash balance from bank statement $fill in the blank d0c52ff9c02b042_1 - Select - - Select - Adjusted cash balance $fill in the blank d0c52ff9c02b042_6 Cash balance from company records $fill in the blank d0c52ff9c02b042_7 Less: $- Select - - Select - - Select - Adjusted cash balance $fill in the blank d0c52ff9c02b042_13 Question Content Area 2. Prepare the adjusting entries made by Dixon as a result of the reconciliation process. If an amount box does not require an entry, leave it blank. May 31 - Select - - Select - - Select - - Select - (Record bank service charge) May 31 - Select - - Select - - Select - - Select - (Record NSF check) Question Content Area 3. What amount is reported for cash on the balance sheet at May 31?
Bank Reconciliation The cash account of Dixon Products reveals the following information: Cash Balance, 4/30 11,180 Deposits during May 37,600 41,620 Checks written during May The bank statement for May contains the following information: Bank balance, 4/30 $11,130 Add: Deposits during May 37,250 $48,380 Less: Checks paid during May $40,230 NSF check from Frolin, Inc. 190 Bank service charges 40 40,460 Bank balance, 5/31 $7,920 A comparison of detailed company records with the bank statement indicates the following information: At 4/30 At 5/31 Deposit in transit $800 $1,150 Outstanding checks 750 2,140 The bank amounts are determined to be correct. Required: Question Content Area 1. Prepare a bank reconciliation for May. Dixon ProductsBank Reconciliation ScheduleMay 31 Cash balance from bank statement $fill in the blank d0c52ff9c02b042_1 - Select - - Select - Adjusted cash balance $fill in the blank d0c52ff9c02b042_6 Cash balance from company records $fill in the blank d0c52ff9c02b042_7 Less: $- Select - - Select - - Select - Adjusted cash balance $fill in the blank d0c52ff9c02b042_13 Question Content Area 2. Prepare the adjusting entries made by Dixon as a result of the reconciliation process. If an amount box does not require an entry, leave it blank. May 31 - Select - - Select - - Select - - Select - (Record bank service charge) May 31 - Select - - Select - - Select - - Select - (Record NSF check) Question Content Area 3. What amount is reported for cash on the balance sheet at May 31?
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
Related questions
Question
Bank Reconciliation
The cash account of Dixon Products reveals the following information:
| Cash | |||
|---|---|---|---|
| Balance, 4/30 | 11,180 | ||
| Deposits during May | 37,600 | 41,620 | Checks written during May |
The bank statement for May contains the following information:
| Bank balance, 4/30 | $11,130 | |||
| Add: Deposits during May | 37,250 | |||
| $48,380 | ||||
| Less: Checks paid during May | $40,230 | |||
| NSF check from Frolin, Inc. | 190 | |||
| Bank service charges | 40 | 40,460 | ||
| Bank balance, 5/31 | $7,920 |
A comparison of detailed company records with the bank statement indicates the following information:
| At 4/30 | At 5/31 | |||
| Deposit in transit | $800 | $1,150 | ||
| Outstanding checks | 750 | 2,140 |
The bank amounts are determined to be correct.
Required:
Question Content Area
1. Prepare a bank reconciliation for May.
| Cash balance from bank statement | $fill in the blank d0c52ff9c02b042_1 | |
|
|
- Select - | |
|
|
- Select - | |
| Adjusted cash balance | $fill in the blank d0c52ff9c02b042_6 | |
| Cash balance from company records | $fill in the blank d0c52ff9c02b042_7 | |
| Less: | ||
|
|
$- Select - | |
|
|
- Select - | - Select - |
| Adjusted cash balance | $fill in the blank d0c52ff9c02b042_13 |
Question Content Area
2. Prepare the
| May 31 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
| (Record bank service charge) | |||
| May 31 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
| (Record NSF check) |
Question Content Area
3. What amount is reported for cash on the
$fill in the blank 3e17c3f8900cfca_1
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