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 $23,300. No deposits were in transit atthe end of April, but a deposit was in transit at the end of May.Balance, May 1May 2May 5May 7May 8May 14May 17May 22May 27May 31Balance, May 31May 1May 1May 7May 29May 31DebitBalanceBalance# 301#302#303# 304Checks$ 12,0008,00060023,3009,00011,0008,000Required:1. Prepare a bank reconciliation for May.Cash (A)22,800BANK STATEMENTDeposits$9,0005,60011,00012,0008,0006005,6002,300Interest earned.NSF checkService chargeCredit# 301 May 2#302 May 4Other# 303May 11# 304 May 23# 305 May 29$ 220380110Balance$ 23 30032,30020,30012,30023,30022,70022,92022,54016,94016,83016,830

The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bahk 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 $23,300. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $9,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 Debit #301 # 302 # 303 # 304 Checks $ 12,000 8,000 600 5,600 Cash (A) 10 200 11,000 Other Interest earned NSF check Service charge Credit $ 220 380 110 Balance $ 231300 32,300 20,300 12,300 23,300 22,700 22,920 22,540 16,940 16,830 16,830

The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bahk 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 $23,300. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $9,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 Debit #301 # 302 # 303 # 304 Checks $ 12,000 8,000 600 5,600 Cash (A) 10 200 11,000 Other Interest earned NSF check Service charge Credit $ 220 380 110 Balance $ 231300 32,300 20,300 12,300 23,300 22,700 22,920 22,540 16,940 16,830 16,830

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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The treasurer preparing the October bank reconciliation identified the following items: Cash balance per the company's records $32,700, Deposits in Transit $4,300, Outstanding Checks $2,200, Interest earned on the checking account $200, Customer NSF check $400. What is the company's adjusted cash balance at Oct. 31? A. $34,900 B. $32,700 C. $32,500 D. $34,800
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Please prepare a bank reconciliation and journal entries for the month ended April 30th for Bannon Co. 1) Balance per bank statement $ 9,915 2) Balance per cash general ledger account (books) $ 8,954 3) April 30th deposit of $ 2,600 is not on the bank statement (Deposit in Transit) 4) Check numbers #219 for $ 1000 and # 222 for $ 1,100 written in April do not appear on the April bank statement (Outstanding Checks) 5) Debit memo for a $ 20 service charge appeared on the bank statement 6) The bank incorrectly deducted $ 400 from Bannon's checking account 7) The bank collected a note on behalf of the company in April, a credit memo for net proceeds of $ 2,000 included the principal of $1,900, interest of $ 150, less a collection fee of $ 50 accompanied the bank statement 8) A check from Apple Co. for $ 150 was returned by the bank marked NSF 9) The bank added $40 of interest earned directly to the checking account balance 10) A Cash Sale in the amount of $ 297 was erroneously journalvized…
Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July.
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Please help me fill out this bank reconciliation showing the true cash balance.
In preparing the bank reconciliation for the month of November, APPLE Industries provided the following information: Balance per bank statement- P1,805,000 Deposit in transit - 325,000 Return of customer check for insufficient fund 60,000 Outstanding balance - 275,000 • Bank service charge for November 10,000 What is the adjusted cash balance?
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