I NEED HELP WITH T-TABLE Timmins Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2020, the company’s Cash account per its general ledger showed a balance of $7,402.00.The bank statement from Emporia State Bank on that date showed the following balance.Emporia State Bank Checks and Debits Deposits and Credits Daily Balance XXX XXX 5-31 8,403.20 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts.1. The statement included a debit memo of $30 for the printing of additional company checks. 2. Cash sales of $993.48 on May 12 were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $1,043.48. The bank credited Timmins Company for the correct amount. 3. Outstanding checks at May 31 totaled $941.35, and deposits in transit were $2,013.15. 4. On May 18, the company issued check No. 1181 for $663 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Timmins Company for $636. 5. $3,000 was collected by the bank for Timmins Company on May 31 through electronic funds transfer. 6. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $460 that was incorrectly charged to Timmins Company by the bank. 7. On May 31, the bank statement showed an NSF charge of $360 for a check issued by Sara Ballard, a customer, to Timmins Company on account. SUNLAND COMPANYBank Reconciliation24%24to%24>>>>>>>>>

Bank reconciliation statement is also known as BRS prepared for the sole purpose of matching…

Answered: I NEED HELP WITH T-TABLE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I NEED HELP WITH T-TABLE

Timmins Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2020, the company’s Cash account per its general ledger showed a balance of $7,402.00.
The bank statement from Emporia State Bank on that date showed the following balance.

Emporia State Bank
Checks and Debits	Deposits and Credits	Daily Balance
XXX	XXX	5-31	8,403.20

A comparison of the details on the bank statement with the details in the Cash account revealed the following facts.

1.		The statement included a debit memo of $30 for the printing of additional company checks.
2.		Cash sales of $993.48 on May 12 were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $1,043.48. The bank credited Timmins Company for the correct amount.
3.		Outstanding checks at May 31 totaled $941.35, and deposits in transit were $2,013.15.
4.		On May 18, the company issued check No. 1181 for $663 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Timmins Company for $636.
5.		$3,000 was collected by the bank for Timmins Company on May 31 through electronic funds transfer.
6.		Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $460 that was incorrectly charged to Timmins Company by the bank.
7.		On May 31, the bank statement showed an NSF charge of $360 for a check issued by Sara Ballard, a customer, to Timmins Company on account.

SUNLAND COMPANY
Bank Reconciliation
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