PA5-2 Preparing a Banknes, andThe bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 andthe May T-account for cash showed the transactions listed below.Martin Company's bank reconciliation at the end of April showed a cash balance of $18,600. No deposits were in transit at the end ofApril, but a deposit was in transit at the end of May.WithdrawalsDepositsOtherBalanceBalance, May 1May 2May 5May 7Мay 8May 14May 17-Interest EarnedMay 22-NSF chequeМay 29May 31-Service chargesBalance, May 31$18,60026,40015,6009,50019,50019,02019,13818,87814,47814,42014,420$ 7,800# 301 $10,800# 3026, 10010,000# 303480$ 118260# 3044,40058+ Cash (A) -May 1May 1May 7Мay 29Balance18,6007,80010,0003,80010,8006,100480May 02 #301#302May 04May 11 #303May 30May 294,400# 3941,280# 305May 31Balance17,140Requlred:1. Prepare a bank reconciliation for May.< Prev2 of 2Nexte to search Required:1. Prepare a bank reconciliation for May.MARTIN COMPANYBank ReconciliationAt May 31Bank StatementCompany's BooksEnding balance per bank statementEnding balance per Cash accountAdditions:Additions:Deductions:Deductions:Up-to-date cash balance0 Up-to-date cash balance2. Prepare any journal entries required as a result of the bank reconciliation. (If no entry Is requlred for a transaction/event, se-"No Journal entry requlred" In the first account fleld.)Viesr छऩाइननीशा डिtPrev2 of 2Next

Solution:- 1)preparation of bank reconciliation for may as follows under:-

Required: . Prepare a bank reconciliation for May. MARTIN COMPANY Bank Reconciliation At 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 0 Up-to-date cash balance -Prepare any journal entries required as a result of the bank reconciliation. (If no entry Is requlred for a transaction/event, se No lournel sntry requlred" In the first account fleld.)

Required: . Prepare a bank reconciliation for May. MARTIN COMPANY Bank Reconciliation At 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 0 Up-to-date cash balance -Prepare any journal entries required as a result of the bank reconciliation. (If no entry Is requlred for a transaction/event, se No lournel sntry requlred" In the first account fleld.)

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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