Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 260 4 #2 $ 25 $ 65 300 12 #4 115 NSF check $ 65 120 28 #5 35 85 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365
Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 260 4 #2 $ 25 $ 65 300 12 #4 115 NSF check $ 65 120 28 #5 35 85 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 60APSA
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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 | ||||||||||||||
Date | Checks | Deposits | Other | Balance | ||||||||||
May 1 | $ | 260 | ||||||||||||
4 | #2 | $ | 25 | $ | 65 | 300 | ||||||||
12 | #4 | 115 | NSF check | $ | 65 | 120 | ||||||||
28 | #5 | 35 | 85 | |||||||||||
30 | #6 | 30 | 260 | 315 | ||||||||||
May 31 | #8 | 70 | Service charge | 20 | 225 | |||||||||
Cash (A) | |||
May 1 | 260 | ||
May 3 | 65 | 25 | May 3 #2 |
85 | May 4 #3 | ||
115 | May 8 #4 | ||
35 | May 11 #5 | ||
30 | May 21 #6 | ||
May 29 | 260 | 40 | May 29 #7 |
May 30 | 180 | 70 | May 30 #8 |
May 31 | 365 |
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