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 Deductions: May 1 May 3 May 29 May 30 May 31 ***## Debit Up-to-Date Cash Balance Checks Bank Statement Ending Balance per Bank Statement Additions: $ 75 165 85 80 120 Cash (A) 460 115. 460 280 625 BANK STATEMENT Deposits $115 460 75 75 165 85 80 90 120 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 $115 Deductions: 70 Ending Balance per Cash Account Additions: Company's Books Up-to-Date Cash Balance Balance $460 500 220 135 515 325
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 Deductions: May 1 May 3 May 29 May 30 May 31 ***## Debit Up-to-Date Cash Balance Checks Bank Statement Ending Balance per Bank Statement Additions: $ 75 165 85 80 120 Cash (A) 460 115. 460 280 625 BANK STATEMENT Deposits $115 460 75 75 165 85 80 90 120 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 $115 Deductions: 70 Ending Balance per Cash Account Additions: Company's Books Up-to-Date Cash Balance Balance $460 500 220 135 515 325
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.
Date
May 1
May 4
May 12
May 28
Deductions:
May 30
May 31
May 1
May 3
May 29
May 30
May 31
#2
#4
#5
#6
#8
Debit
Up-to-Date Cash Balance
Checks
Bank Statement
Ending Balance per Bank Statement
Additions:
$ 75
165
85
80
120
Cash (A)
460
115
460
280
625
BANK STATEMENT
Deposits
$115
460
75
75
165
85
80
90
120
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
$ 115
Deductions:
70
Ending Balance per Cash Account
Additions:
Company's Books
Up-to-Date Cash Balance
Balance
$ 460
500
220
135
515
325
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