The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Deposits Checks Other Balance $5,400 4,820 6,720 6,580 6,230 5,530 5,380 5,290 5,270 Balance, April 1 April 5 April 9 April 12 April 19 April 22 April 27 April 29 April 30 #101 $580 $1,900 #102 140 #103 350 #104 700 EFT payment $150 90 NSF check Service charge 20 Cash (A) April 1 Balance April 8 April 28 5,400 1,900 April 2 April 10 #102 April 15 #103 April 20 #104 April 29 #105 #101 580 140 380 350 800 200 April 30 Balance 5,610 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was written for $800. The NSF check had been received from a customer. Required: 1. Prepare a bank reconciliation for April. TIP: Put a check mark beside each item that appears on both the bank statement and what's already been recorded in the accounting records (shown in the T-account). Items left unchecked will be used in the bank reconciliation.

The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Deposits Checks Other Balance $5,400 4,820 6,720 6,580 6,230 5,530 5,380 5,290 5,270 Balance, April 1 April 5 April 9 April 12 April 19 April 22 April 27 April 29 April 30 #101 $580 $1,900 #102 140 #103 350 #104 700 EFT payment $150 90 NSF check Service charge 20 Cash (A) April 1 Balance April 8 April 28 5,400 1,900 April 2 April 10 #102 April 15 #103 April 20 #104 April 29 #105 #101 580 140 380 350 800 200 April 30 Balance 5,610 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was written for $800. The NSF check had been received from a customer. Required: 1. Prepare a bank reconciliation for April. TIP: Put a check mark beside each item that appears on both the bank statement and what's already been recorded in the accounting records (shown in the T-account). Items left unchecked will be used in the bank reconciliation.

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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