Jansen Company’s general ledger showed a checking account balance of $25,720 at the end of May 2021. The May 31 cash receipts of $2,530, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2021, showed bank service charges of $57. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,080. Required: Prepare a bank reconciliation as of May 31, 2021. [Hint: You will need to compute the balance that would appear on the bank statement.]
Jansen Company’s general ledger showed a checking account balance of $25,720 at the end of May 2021. The May 31 cash receipts of $2,530, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2021, showed bank service charges of $57. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,080. Required: Prepare a bank reconciliation as of May 31, 2021. [Hint: You will need to compute the balance that would appear on the bank statement.]
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter5: Bank Reconciliation (bankrec)
Section: Chapter Questions
Problem 4R
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Jansen Company’s general ledger showed a checking account balance of $25,720 at the end of May 2021. The May 31 cash receipts of $2,530, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2021, showed bank service charges of $57. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,080.
Required:
Prepare a bank reconciliation as of May 31, 2021. [Hint: You will need to compute the balance that would appear on the bank statement.]
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