Use the following bank statement and T-account to prepare the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 3 May 29 May 30 May 31 #2 #4 #5 #6 Deductions: # 8 Debit Checks $ 100 190 110 105 145 Up-to-Date Cash Balance Cash (A) 560 140 560 330 725 Ending Balance per Bank Statement Additions: Bank Statement BANK STATEMENT Deposits $ 140 560 100 100 190 110 105 115 145 NSF check Service charge Credit $ Other May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 Bank Reconciliation May 31 0 0 $ 140 Deductions: 95 Balance $ 560 600 270 160 615 375 Company's Books Ending Balance per Cash Account Additions: 0 0 Up-to-Date Cash Balance $ LA O O
Use the following bank statement and T-account to prepare the May 31 bank reconciliation. Date May 1 May 4 May 12 May 28 May 30 May 31 May 1 May 3 May 29 May 30 May 31 #2 #4 #5 #6 Deductions: # 8 Debit Checks $ 100 190 110 105 145 Up-to-Date Cash Balance Cash (A) 560 140 560 330 725 Ending Balance per Bank Statement Additions: Bank Statement BANK STATEMENT Deposits $ 140 560 100 100 190 110 105 115 145 NSF check Service charge Credit $ Other May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 Bank Reconciliation May 31 0 0 $ 140 Deductions: 95 Balance $ 560 600 270 160 615 375 Company's Books Ending Balance per Cash Account Additions: 0 0 Up-to-Date Cash Balance $ LA O O
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following bank statement and T-account to prepare the May 31 bank reconciliation.
| BANK STATEMENT | ||||||
| Date | Checks | Deposits | Other | Balance | ||
|---|---|---|---|---|---|---|
| May 1 | $ 560 | |||||
| May 4 | #2 | $ 100 | $ 140 | 600 | ||
| May 12 | #4 | 190 | NSF check | $ 140 | 270 | |
| May 28 | #5 | 110 | 160 | |||
| May 30 | #6 | 105 | 560 | 615 | ||
| May 31 | #8 | 145 | Service charge | 95 | 375 |
| Cash (A) | |||
|---|---|---|---|
| Debit | Credit | ||
| May 1 | 560 | ||
| May 3 | 140 | 100 | May 3 #2 |
| 100 | May 4 #3 | ||
| 190 | May 8 #4 | ||
| 110 | May 11 #5 | ||
| 105 | May 21 #6 | ||
| May 29 | 560 | 115 | May 29 #7 |
| May 30 | 330 | 145 | May 30 #8 |
| May 31 | 725 |
Transcribed Image Text:Use the following bank statement and T-account to prepare the May 31 bank reconciliation.
Date
May 1
May 4
May 12
May 28
May 30
May 31
May 1
May 3
May 29
May 30
May 31
#2
#4
#5
#6
Deductions:
#8
Debit
Checks
$ 100
190
110
105
145
Cash (A)
Up-to-Date Cash Balance
560
140
560
330
725
Ending Balance per Bank Statement
Additions:
Bank Statement
BANK STATEMENT
Deposits
$ 140
560
100
100
190
110
105
115
145
NSF check
Service charge
Credit
Other
$
May 3 #2
May 4 #3
May 8 #4
May 11 #5
May 21 #6
May 29 #7
May 30 #8
Bank Reconciliation
May 31
0
0
$ 140
Deductions:
95
Balance
$ 560
600
270
160
0
0 Up-to-Date Cash Balance
615
375
Company's Books
Ending Balance per Cash Account
Additions:
$
0
0
0
0
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