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. 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 Cash (A) 17,900 7,000 9,000 5,600 BANK STATEMENT Deposits $ 7,000 17,920 480 4,400 10,000 5,600 480 4,400 1,100 9,000 Interest earned NSF check Service charge Credit Other #301 May 2 #302 May 4 #303 May 11 # 304 May 23 #305 May 29 $ 110 260 78 Balance $ 17,900 24,900 14,900 9,300 18,300 17,820 17,930 17,678 13,270 13,200 13,200

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. 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 Cash (A) 17,900 7,000 9,000 5,600 BANK STATEMENT Deposits $ 7,000 17,920 480 4,400 10,000 5,600 480 4,400 1,100 9,000 Interest earned NSF check Service charge Credit Other #301 May 2 #302 May 4 #303 May 11 # 304 May 23 #305 May 29 $ 110 260 78 Balance $ 17,900 24,900 14,900 9,300 18,300 17,820 17,930 17,678 13,270 13,200 13,200

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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