I need to create a bank reconciliation for Diaz's checking account on May 31, 2021 Bowlegs, OK 74830Statement Date:Мay 31, 2021Account SummaryWithdrawals andDebitsBeginning BalanceМay 1, 2021$6,130Deposits and CreditsNO.Ending BalanceMay 31, 2021$6,587TotalNO.Total$9,504Account Details79.$9,047Daily BalanceDateDeposits and CreditsWithdrawals and DebitsDateAmountDesc.DateNo.AmountDesc.Amount5/45/115/185/205/205/255/31$ 1,3301,7602,3901,10047$5,7105,4106,7405,5707,0605,5204,4405,1176,607DEP5/15/25/95/115/125/185/205/255/31469$420CHKCHK5/15/25/45/95/115/125/185/205/25DEP4703001,170270CHKNSFCHKCHKEFTCHKDEP471NOTE4724731,5403,470470INT2,86017DEPINT1,37037474SF$ 9,504$9,0475/31$6,587DEP Customer depositNOTE Note collectedEFT Electronic funds transferDesc.INT Interest earnedSF Service feesNSF Nonsufficient fundsCHK Customer checkAdditional information:a. The difference in the beginning balances in the company's records and the bank statement relates to checks # 469 and# 470, which are outstanding as of April 30, 2021 (prior month).b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have beenmade on another account.equired:. Prepare a bank reconciliation for Diaz's checking account on May 31, 2021. (Amounts to be deducted should be indicated with ahinus sign. Total entries to the same account together when entering in the bank reconciliation.) The cash records and bank statement for the month of May for Diaz Entertainment are shown below.DIAZ EΝTERTAINΜENTCash Account RecordsMay 1, 2021, to May 31, 2021Cash BalanceCash BalanceCashCashDisbursementsMay 1, 2021$5,410Receipts$11,390Cash ReceiptsМay 31, 2021$5,360$11,440Cash DisbursementsDateDateCheck#Desc.SalesSalesSalesSalesAmountDesc.Amount5/35/105/175/245/31$ 1,3301,7602,3902,8603,0505/75/125/155/225/305/31Legal feesProperty taxSalaries$ 1,1701,5403,4701,370420471$472473474AdvertisingSuppliesSalariesSales4753,470$11,440476$11,390Р.О. Вох 162647Midwest BankMember FDICBowlegs, OK 74830( 405) 369-CASHAccount Holder:Looking Out For YouDiaz Entertainment124 Saddle Blvd,Bowlegs, OK 74830Account Number:7772854360Statement Date:Маy 31, 2021Account SummaryWithdrawals andDebitsBeginning BalanceМаy 1, 2021$6,130Deposits and CreditsNO.Ending BalanceМаy 31, 2021$6,587TotalNO.Total$9,504Account DetailsWithdrawals and Debits79.$9,047Deposits and CreditsAmountDaily BalanceDateDesc.DateNo.AmountDesc.DateAmount$ 1,3301,7602,3901,10047$5,7105,4106,7405,5707,0605,5204,4405. 117.4694203005/45/115/185/205/205/255/31CHKCHKCHKNSF5/15/25/45/95/115/125/18DEP5/15/25/95/115/125/185/205/25.DEPDEPNOTE4701,170270471472473CHKСHKINT2,860171,5403,470470DEPINTEFT4741 370CHK5/20

Bank reconciliation is a process in which balance as per bank and as per book is matched by…

Bowlegs, OK 74830 Statement Date: May 31, 2021 Account Summary Withdrawals and Debits Beginning Balance Маy 1, 2021 $6,130 Deposits and Credits NO. Ending Balance May 31, 2021 $6,587 Total NO. Total 7 $9,504 9. $9,047 Account Details Deposits and Credits Amount Withdrawals and Debits Amount 420 Daily Balance Desc. Desc. Date 5/4 5/11 5/18 5/20 5/20 5/25 5/31 Date 5/1 5/2 5/9 5/11 5/12 5/18 5/20 5/25 5/31 No. Date 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 Amount $ 1,330 1,760 2,390 1,100 47 $5,710 5,410 6,740 5,570 7,060 5,520 4,440 5,117 6,607 DEP 469 470 471 CHK 2$ 300 DEP CHK 1,170 270 1,540 3,470 470 DEP NOTE CHK NSF 472 473 CHK CHK EFT CHK INT DEP 2,860 17 INT 474 1,370 37 SF $ 9,504 $9,047 5/31 $6,587 DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Desc. Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks #469 and # 470, which are outstanding as of April 30, 2021 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account.

Bowlegs, OK 74830 Statement Date: May 31, 2021 Account Summary Withdrawals and Debits Beginning Balance Маy 1, 2021 $6,130 Deposits and Credits NO. Ending Balance May 31, 2021 $6,587 Total NO. Total 7 $9,504 9. $9,047 Account Details Deposits and Credits Amount Withdrawals and Debits Amount 420 Daily Balance Desc. Desc. Date 5/4 5/11 5/18 5/20 5/20 5/25 5/31 Date 5/1 5/2 5/9 5/11 5/12 5/18 5/20 5/25 5/31 No. Date 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 Amount $ 1,330 1,760 2,390 1,100 47 $5,710 5,410 6,740 5,570 7,060 5,520 4,440 5,117 6,607 DEP 469 470 471 CHK 2$ 300 DEP CHK 1,170 270 1,540 3,470 470 DEP NOTE CHK NSF 472 473 CHK CHK EFT CHK INT DEP 2,860 17 INT 474 1,370 37 SF $ 9,504 $9,047 5/31 $6,587 DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Desc. Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks #469 and # 470, which are outstanding as of April 30, 2021 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter8: Sarbanes-oxley, Internal Control, And Cash

Section: Chapter Questions

Problem 19E

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