Required informationPA5-2 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5][The following information applies to the questions displayed below.)The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bankstatement and the May T-account for cash (summarized) are below.Martin Company's bank reconciliation at the end of April showed a cash balance of $17,900. No deposits were in transit atthe end of April, but a deposit was in transit at the end of May.BANK STATEMENTDeposits$ 7,000Balance, May 11May 2May 5May 7May BMay 14May 17May 22May 27May 31Balance, May 31May 1May 1May 7May 29May 31DebitBalanceBalance in Cash AccountBalance#301#302#303#304Checks$ 10,0005,600480Cash (A)17,9007,0009,0005,6004,40017,92010,0005,6004804,4001,1009,000Interest earnedNSP checkService chargeCreditOther#301 May 2#302 May 4#303 May 11#304 May 23#305 May 29$ 11026070Balance$ 17,90024,90014,9009,30018,30017,82017,93017,67013,27013,20013,200PA5-2 (Algo) Part 33. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?

Required information PA5-2 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5] [The following information applies to the questions displayed below.] The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $17,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $ 7,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 May 1 May 1 May 7 May 29 May 31 Debit Balance Balance #301 #302 #303 #304 Checks $ 10,000 5,600 480 Cash (A) 17,900 7,000 9,000 5,600 4,400 17,920 10,000 5,600 480 4,400 1,100 9,000 Interest earned NSF check Other Service charge Credit #301 May 2 #302 May 4 #303 May 11 #304 May 23 #305 May 29 $ 110 260 70 Balance $ 17,900 24,900 14,900 9,300 18,300 17,820 17,930 17,670 13,270 13,200 13,200

Required information PA5-2 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5] [The following information applies to the questions displayed below.] The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $17,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $ 7,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 May 1 May 1 May 7 May 29 May 31 Debit Balance Balance #301 #302 #303 #304 Checks $ 10,000 5,600 480 Cash (A) 17,900 7,000 9,000 5,600 4,400 17,920 10,000 5,600 480 4,400 1,100 9,000 Interest earned NSF check Other Service charge Credit #301 May 2 #302 May 4 #303 May 11 #304 May 23 #305 May 29 $ 110 260 70 Balance $ 17,900 24,900 14,900 9,300 18,300 17,820 17,930 17,670 13,270 13,200 13,200

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.4.3P

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Required information [The following information applies to the questions displayed below.] The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $21,500. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 May 1 May 1 May 7 May 29 May 31 Debit Balance Balance #301 #302 #303 # 304 Checks Total Amount of Cash and Cash Equivalents $ 12,000 7,200 560 Cash (A) 21,500 9,000 11,000 7,200 5,200 21,840 BANK STATEMENT Deposits $ 9,000 12,000 7,200 560 5,200 1,900 11,000 Interest earned NSF check Service charge Credit Other # 301 May 2 # 302 May 4 #303 May 11 # 304 May 23 # 305 May 29 $ 180 340 90 Balance $ 21,500 30,500 18,500 11,300 22,300 21,740 21,920 21,580…
Required information [The following information applies to the questions displayed below.] The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized). Martin Company's bank reconciliation at the end of April showed a cash balance of $21,000. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Balance, May 1 May 2 May 5 May 7 May 8 May 14. May 17 May 22 May 27 May 31 Balance, May 31 May 1 Balance May 1 May 7 May 29 May 31 Balance Checks # 301 $11,000 #302 7,000 #303 BANK STATEMENT Deposits $ 8,000 # 304 5,100 21,000 8,000 10,000 7,000 550 Cash (A) 20,550 10,000 11,000 7,000 550 5,100 1,800 Other Interest. NSF check Service charge # 301 May 2 # 302 May 4 # 303 May 11 # 304 May 23 # 305 May 29 $170 330 85 Balance $ 21,000 29,000 18,000 11,000 21,000 20,450 20,620 20,290 15,190 15,105 15,105 1) Prepare a bank reconciliation for May.
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Required:1. Prepare a bank reconciliation as of February 28.2. Prepare adjusting entries for Valentine based on the information developed in the bank reconciliation.3. What is the amount of cash that should be reported on the February 28 balance sheet?
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Required information E5-6 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 Debit September 1 Balance. September September 30 10 September 30 E5-6 (Algo) Part 1 Balance Required: 1. Prepare a bank reconciliation. Deductions: Ending Balance per Bank Statement Additions: BANK STATEMENT Deposits Checks Up-to-Date Cash Balance # 101 $ 870 # 102 1,840 # 103 2,370 Bank Statement Cash (A) 2,140 3,210 870 2,850 1,840 2,370 3,070 $ 3,210 50 15 $ 22 September 10 September September September 28 NSF check EFT deposit Service charge Credit 0 0 Other CADIEUX COMPANY Bank Reconciliation September 30 No outstanding checks and no deposits in transit were noted in August.…