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You are in the process of preparing a bank reconciliation for Charter Boat Company as of May 31. Identify the appropriate information to prepare the reconciliation. 1. Deposit in transit of $1,500 as of May 31. 2. April service charge of $30 recorded by the company in May. Deducted from the balance per bank statement 3. Checks totaling $1,100 written in April that have not cleared the bank by May 31. Added to the balance per bank statement 4. Check of Tomi, Inc. for $780 deposited in May by Charter Boat Company and Deducted from the balance per company records returned by the bank with the NSF notation in May bank statement. 5. Canceled check No. 205 written by Charter Boat Company for $200 to Mays, Inc., Added to the balance per company records had been recorded on the company's books as $2,000. Omitted from the reconciliation 6. Note receivable face value plus interest collected by the bank and deposited into Carpenter's account and not previously recorded by Charter Boat Company. 7. Bank service charge of $35 for May. 8. Check of Carpets, Inc. charged in error against Charter Boat's account by the bank during May and not corrected as of May 31.

You are in the process of preparing a bank reconciliation for Charter Boat Company as of May 31. Identify the appropriate information to prepare the reconciliation. 1. Deposit in transit of $1,500 as of May 31. 2. April service charge of $30 recorded by the company in May. Deducted from the balance per bank statement 3. Checks totaling $1,100 written in April that have not cleared the bank by May 31. Added to the balance per bank statement 4. Check of Tomi, Inc. for $780 deposited in May by Charter Boat Company and Deducted from the balance per company records returned by the bank with the NSF notation in May bank statement. 5. Canceled check No. 205 written by Charter Boat Company for $200 to Mays, Inc., Added to the balance per company records had been recorded on the company's books as $2,000. Omitted from the reconciliation 6. Note receivable face value plus interest collected by the bank and deposited into Carpenter's account and not previously recorded by Charter Boat Company. 7. Bank service charge of $35 for May. 8. Check of Carpets, Inc. charged in error against Charter Boat's account by the bank during May and not corrected as of May 31.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
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You are in the process of preparing a bank reconciliation for Charter Boat Company as of May 31. Identify the appropriate information to prepare the reconciliation.

1. Deposit in transit of $1,500 as of May 31.

2. April service charge of $30 recorded by the company in May. 

3. Checks totaling $1,100 written in April that have not cleared the bank by May 31. 

4. Check of Tomi, Inc. for $780 deposited in May by Charter Boat Company and
returned by the bank with the NSF notation in May bank statement. 

5. Canceled check No. 205 written by Charter Boat Company for $200 to Mays, Inc.,
had been recorded on the company's books as $2,000. 

6. Note receivable face value plus interest collected by the bank and deposited into
Carpenter's account and not previously recorded by Charter Boat Company. 

7. Bank service charge of $35 for May. 

8. Check of Carpets, Inc. charged in error against Charter Boat's account by the bank
during May and not corrected as of May 31. 

You are in the process of preparing a bank reconciliation for Charter Boat Company as of May 31. Identify the appropriate information to prepare the reconciliation. 1. Deposit in transit of $1,500 as of May 31. 2. April service charge of $30 recorded by the company in May. Deducted from the balance per bank statement 3. Checks totaling $1,100 written in April that have not cleared the bank by May 31. Added to the balance per bank statement 4. Check of Tomi, Inc. for $780 deposited in May by Charter Boat Company and Deducted from the balance per company records returned by the bank with the NSF notation in May bank statement. 5. Canceled check No. 205 written by Charter Boat Company for $200 to Mays, Inc., Added to the balance per company records had been recorded on the company's books as $2,000. Omitted from the reconciliation 6. Note receivable face value plus interest collected by the bank and deposited into Carpenter's account and not previously recorded by Charter Boat Company. 7. Bank service charge of $35 for May. 8. Check of Carpets, Inc. charged in error against Charter Boat's account by the bank during May and not corrected as of May 31.
Transcribed Image Text:You are in the process of preparing a bank reconciliation for Charter Boat Company as of May 31. Identify the appropriate information to prepare the reconciliation. 1. Deposit in transit of $1,500 as of May 31. 2. April service charge of $30 recorded by the company in May. Deducted from the balance per bank statement 3. Checks totaling $1,100 written in April that have not cleared the bank by May 31. Added to the balance per bank statement 4. Check of Tomi, Inc. for $780 deposited in May by Charter Boat Company and Deducted from the balance per company records returned by the bank with the NSF notation in May bank statement. 5. Canceled check No. 205 written by Charter Boat Company for $200 to Mays, Inc., Added to the balance per company records had been recorded on the company's books as $2,000. Omitted from the reconciliation 6. Note receivable face value plus interest collected by the bank and deposited into Carpenter's account and not previously recorded by Charter Boat Company. 7. Bank service charge of $35 for May. 8. Check of Carpets, Inc. charged in error against Charter Boat's account by the bank during May and not corrected as of May 31.
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