Use the following bank statement and T-account to identify outstanding deposits that should be included in the May 31 bankreconciliation.DateMay 11May 4May 12May 28,May 30May 31May 11May 3May 29May 30May 31#2#4#5#6#8DebitESCUCCOutstanding DepositsChecks$ 10100201555Cash (A)20050200150305BANK STATEMENTDeposits$50200NSF checkOtherService chargeCredit10 May 3 #270 May 4 #3100 May 88420 May 11 #515 May 21 #6125 May 29 8755 May 30 8$505Balance$ 2002409070255195

Bank reconciliation statement is prepared by the entity for the purpose of reconciling the…

Use the following bank statement and T-account to identify outstanding deposits that should be included in the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 1 #2 23315 May 29 May 30 May 31 #4 Hay 30 #6 May 31 #8 45 Debit Outstanding Deposits Checks $ 10 100 20 15 55 Cash (A) 200 50 200 150 305 BANK STATEMENT Deposits $ 50 200 NSF check Other Service charge Credit 10 May 3 #2 70 May 4 83 100 May 8 84 20 May 11 #5 15 May 21 #6 25 May 29 87 35 May 30 as $.50 Balance $ 200 240 90 70 255 195

Use the following bank statement and T-account to identify outstanding deposits that should be included in the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 1 #2 23315 May 29 May 30 May 31 #4 Hay 30 #6 May 31 #8 45 Debit Outstanding Deposits Checks $ 10 100 20 15 55 Cash (A) 200 50 200 150 305 BANK STATEMENT Deposits $ 50 200 NSF check Other Service charge Credit 10 May 3 #2 70 May 4 83 100 May 8 84 20 May 11 #5 15 May 21 #6 25 May 29 87 35 May 30 as $.50 Balance $ 200 240 90 70 255 195

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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M5-12 Preparing a Bank Reconciliation (LO 5-4) Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Deposits Date Checks Other Balance May 1 4 2 $ 2s 12 4 115 $ 65 NSF check $260 300 120 $65 28 5 30 46 May 31 8 35 30 85 315 260 70 Service charge 20 225 May 1 May 3 Cash (A) 260 65 25 85 115 35 30 40 May 3 2 May 4 3 May 4 May 11 5 May 21 6 May 29 7 May 30 8 May 29 May 30 May 31 260 180 70 365 Bank Reconciliation May 31 Bank Statement Company's Books Ending Balance per Bank Statement Additions: 365 Ending Balance per Cash Account Additions: Deposit in Transit EFT Payment 365 Deductions: Deductions: Up-to-Date Cash Balance 365 Up-to-Date Cash Balance
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The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Using the following accounts: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks prepare the two correcting journal entries: DR [ Select ] ["Bank Service Charges", "Interest Expense", "Interest Income", "Bank Errors", "Cash"] [ Select ] ["$569", "$30", "$300", "$1,020", "$852"] CR [ Select ] ["Interest Expense", "Cash", "Bank Service Charges", "Interest Income", "Bank Errors"] [ Select ] ["$852", "$300", "$569", "$1,030", "$30"] and DR…
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prepare a bank reconciliation report.
journalize any necessary entries for photo op based on bank recon
Question 19 ) BRS
IMPORTANT Record the entries in the order the items are listed on the bank reconciliation report. When entering numbers, please do not use commas or dollar signs. Journal Date 2023 Accounts and Explanations 0 น PR Debit Page 52 Credit
Bank reconcjliation Instructions Chart of Accounts First Question Journal Instructions The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $17,350 Balance pir company records 10,035 Bank service charges 35 Deposit in transit 3,350 Note collected by bank with $190 interest 4,600 Outstanding checks 6,100 Instructions a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wordina of Check My Work
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