The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bahk statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $23,300. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $9,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 Debit #301 # 302 # 303 # 304 Checks $ 12,000 8,000 600 5,600 Cash (A) 10 200 11,000 Other Interest earned NSF check Service charge Credit $ 220 380 110 Balance $ 231300 32,300 20,300 12,300 23,300 22,700 22,920 22,540 16,940 16,830 16,830
The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bahk statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $23,300. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Deposits $9,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 Debit #301 # 302 # 303 # 304 Checks $ 12,000 8,000 600 5,600 Cash (A) 10 200 11,000 Other Interest earned NSF check Service charge Credit $ 220 380 110 Balance $ 231300 32,300 20,300 12,300 23,300 22,700 22,920 22,540 16,940 16,830 16,830
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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Transcribed Image Text:The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank
statement and the May T-account for cash (summarized) are below.
Martin Company's bank reconciliation at the end of April showed a cash balance of $23,300. No deposits were in transit at
the end of April, but a deposit was in transit at the end of May.
Balance, May 1
May 2
May 5
May 7
May 8
May 14
May 17
May 22
May 27
May 31
Balance, May 31
May 1
May 1
May 7
May 29
May 31
Debit
Balance
Balance
# 301
#302
#303
# 304
Checks
$ 12,000
8,000
600
23,300
9,000
11,000
8,000
Required:
1. Prepare a bank reconciliation for May.
Cash (A)
22,800
BANK STATEMENT
Deposits
$9,000
5,600
11,000
12,000
8,000
600
5,600
2,300
Interest earned.
NSF check
Service charge
Credit
# 301 May 2
#302 May 4
Other
# 303
May 11
# 304 May 23
# 305 May 29
$ 220
380
110
Balance
$ 23 300
32,300
20,300
12,300
23,300
22,700
22,920
22,540
16,940
16,830
16,830
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