Use the following bank statement and T-account to prepare the May 31 bank reconciliation.DateMay 1May 4May 12May 28May 30May 31May 1May 31May 29May 30May 311#2#4#5#6#8Deductions:DebitChecks$701608075115Cash (A)440110440270605Ending Balance per Bank StatementAdditions:Bank StatementBANK STATEMENTDeposits$ 11044070OO70687160807585115NSF checkOtherService chargeCreditMay 3 #2May 4 #3May 8 #41May 11 #5May 21 # 6May 29 #7May 30 #8Bank ReconciliationMay 31$ 110Deductions:65Balance$ 440480210130495315Company's BooksEnding Balance per Cash AccountAdditions:

Bank reconciliation is used for reconciling the unadjusted balance of bank with the unadjusted…

Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 31 May 29 May 30 May 31 #2 #4 #5 #6 #8 Debit Checks $ 70 160 80 75 115 Cash (A) 440 110 440 270 605 BANK STATEMENT Deposits $ 110 440 226 70 70 160 80 75 85 115 NSF check Other Service charge Credit May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 $ 110 65 Balance $ 440 480 210 130 495 315

Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 31 May 29 May 30 May 31 #2 #4 #5 #6 #8 Debit Checks $ 70 160 80 75 115 Cash (A) 440 110 440 270 605 BANK STATEMENT Deposits $ 110 440 226 70 70 160 80 75 85 115 NSF check Other Service charge Credit May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 $ 110 65 Balance $ 440 480 210 130 495 315

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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