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M5-12 (Algo) Preparing a Bank Reconciliation [LO 5-4] Use the following bank statement and T-account to prepare the May 31 bank reconciliation.   BANK STATEMENT Date Checks Deposits Other Balance May 1           $ 380 May 4 #2 $ 55 $ 95     420 May 12 #4 145   NSF check $ 95 180 May 28 #5 65       115 May 30 #6 60 380     435 May 31 #8 100   Service charge 50 285   Cash (A) Debit Credit May 1 380     May 3 95 55 May 3 #2     115 May 4 #3     145 May 8 #4     65 May 11 #5     60 May 21 #6 May 29 380 70 May 29 #7 May 30 240 100 May 30 #8 May 31 485

M5-12 (Algo) Preparing a Bank Reconciliation [LO 5-4] Use the following bank statement and T-account to prepare the May 31 bank reconciliation.   BANK STATEMENT Date Checks Deposits Other Balance May 1           $ 380 May 4 #2 $ 55 $ 95     420 May 12 #4 145   NSF check $ 95 180 May 28 #5 65       115 May 30 #6 60 380     435 May 31 #8 100   Service charge 50 285   Cash (A) Debit Credit May 1 380     May 3 95 55 May 3 #2     115 May 4 #3     145 May 8 #4     65 May 11 #5     60 May 21 #6 May 29 380 70 May 29 #7 May 30 240 100 May 30 #8 May 31 485

FINANCIAL ACCOUNTING
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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M5-12 (Algo) Preparing a Bank Reconciliation [LO 5-4]

Use the following bank statement and T-account to prepare the May 31 bank reconciliation.
 

BANK STATEMENT
Date Checks Deposits Other Balance
May 1           $ 380
May 4 #2 $ 55 $ 95     420
May 12 #4 145   NSF check $ 95 180
May 28 #5 65       115
May 30 #6 60 380     435
May 31 #8 100   Service charge 50 285

 

Cash (A)
Debit Credit
May 1 380    
May 3 95 55 May 3 #2
    115 May 4 #3
    145 May 8 #4
    65 May 11 #5
    60 May 21 #6
May 29 380 70 May 29 #7
May 30 240 100 May 30 #8
May 31 485    
  
M5-12 (Algo) Preparing a Bank Reconciliation (LO 5-4) Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Deposits Date Checks Other Balance May 1 May 4 May 12 May 28 May 30 May 31 $ 380 #2 $ 55 $ 95 420 # 4 145 NSF check $ 95 180 #5 65 115 #6 60 380 435 #8 100 Service charge 50 285 Cash (A) Debit Credit May 1 May 3 380 May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 95 55 115 145 65 60 May 29 May 30 May 31 380 70 240 100 485 Bank Reconciliation May 31 Bank Statement Company's Books Ending Balance per Bank Statement Ending Balance per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance
Transcribed Image Text:M5-12 (Algo) Preparing a Bank Reconciliation (LO 5-4) Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Deposits Date Checks Other Balance May 1 May 4 May 12 May 28 May 30 May 31 $ 380 #2 $ 55 $ 95 420 # 4 145 NSF check $ 95 180 #5 65 115 #6 60 380 435 #8 100 Service charge 50 285 Cash (A) Debit Credit May 1 May 3 380 May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 95 55 115 145 65 60 May 29 May 30 May 31 380 70 240 100 485 Bank Reconciliation May 31 Bank Statement Company's Books Ending Balance per Bank Statement Ending Balance per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance
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