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
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
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.21E
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Transcribed Image Text: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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