Question

Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT...

Use the following bank statement and T-account to prepare the May 31 bank reconciliation.

BANK STATEMENT
  Date Checks Deposits Other Balance
  May 1       $ 520
           4       #2 $ 90 $ 130 560
          12       #4 180 NSF Check $130 250
          28       #5 100 150
          30       #6 95 520 575
  May 31       #8 135 Service charge 85 355
Cash (A)
  May 1 520  
  May 3 130      90 May 3 #2  
         90   May 4 #3  
         180 May 8 #4
         100 May 11 #5  
          95 May 21 #6
  May 29 520       105 May 29 #7
  May 30 310     135 May 30 #8
  May 31 685     
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
BANK STATEMENT   Date Checks Deposits Other Balance   May 1       $ 520            4       #2
BANK STATEMENT   Date Checks Deposits Other Balance   May 1       $ 520            4       #2 $ 90 $ 130 560           12       #4 180 NSF Check $130 250           28       #5 100 150           30       #6 95 520 575   May 31       #8 135 Service charge 85 355 Cash (A)   May 1 520     May 3 130      90 May 3 #2            90   May 4 #3            180 May 8 #4          100 May 11 #5     ...
Use the following information to prepare a bank reconciliation for Magee Company at August 31, 2016:...
Use the following information to prepare a bank reconciliation for Magee Company at August 31, 2016: (1) Cash account balance, $18,273.40. (2) Bank statement balance, August 31, $16,315.00. (3) Deposits in transit, $2,800.00. (4) Outstanding checks, August 31, $1,850.80. (5) Service charge on bank statement not recorded in books, $44.00. (6) Bank error—another company's check charged on Magee Company's bank statement, $245.20. (7) Check for repairs expense, $1,680.00, incorrectly recorded in books as $960.00. (a) Prepare the bank reconciliation. (b)...
Question text Bank Reconciliation The bank reconciliation made by Winton, Inc., on August 31 showed: Deposit...
Question text Bank Reconciliation The bank reconciliation made by Winton, Inc., on August 31 showed: Deposit in transit of $2,560 Outstanding checks no.597 $1,660 no.603 $1,280 The reconciled cash balance on August 31 was $28,220 The following bank statement is available for September: Bank Statement TO Winton, Inc. September 30 St. Louis, MO STATE BANK Date Deposits No. Date Charges Date Balance Sept. 1 $2,560 597 Sept. 1 $1,660 Aug. 31 $28,600 2 2,240 607 5 3,700 Sept. 1 29,500...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 1 Balance per Cash account, June 30. $14,111.60 2 Balance per bank statement, June 30. 14,600.50 3 Deposits not reflected on bank statement. 1,450 4 Outstanding checks, June 30. 2,520.90 5 Service charge on bank statement not recorded in books. 22.0 6 Error by bank-Yertel Company check charged on Young Company's bank statement. 1,100 7 Check for advertising expense 500 incorrectly recorded in...
Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information: a. The...
Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information: a. The October 31 cash balance in the general ledger is $1,688. b. The October 31 balance shown on the bank statement is $746. c. Checks issued but not returned with the bank statement were No. 462 for $26 and No. 483 for $100. d. A deposit made late on October 31 for $900 is included in the general ledger balance but not in the bank...
[The following information applies to the questions displayed below.] The September bank statement and cash T-account...
[The following information applies to the questions displayed below.] The September bank statement and cash T-account for Terrick Company follow: BANK STATEMENT Date Checks Deposits Other Balance Sept. 1        $ 89,900 2        $ 760 89,140 4        3,400 85,740 6        2,200 83,540 11        440 $15,000 98,100 13        790 97,310 17        11,400 85,910 23        160 34,000 119,750 26        840 118,910 28        9,400 109,510 29        870 17,500   NSF* $ 640 125,500 30        540   Interest earned 200 125,160 30          Service charge 50 125,110 *NSF...
2.   Use the following information to prepare a bank reconciliation for Magee Company at August 31,...
2.   Use the following information to prepare a bank reconciliation for Magee Company at August 31, 2016:    (1)        Cash account balance, $18,273.40. (2)        Bank statement balance, August 31, $16,315.00. (3)        Deposits in transit, $2,800.00. (4)        Outstanding checks, August 31, $1,850.80. (5)        Service charge on bank statement not recorded in books, $44.00. (6)        Bank error - another company’s check charged on Magee Company’s bank statement, $245.20. (7)        Check for repairs expense, $1,680, incorrectly recorded in books as $960.00.
East End Hospital has a bank account and is ready to prepare its bank reconciliation on...
East End Hospital has a bank account and is ready to prepare its bank reconciliation on July 31. The July 31 balance on the books is $ 50000 and the balance per the bank statement is $ 35860 . Cash receipts of July 31 amounting to $ 9000 were recorded and then deposited in the bank's night depository. The bank did not include this deposit on its July statement. The bank statement included service charges of $ 140 . Patients...
54. Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December...
54. Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December 31.    A. On December 31, Cougar Corp. general ledger showed a cash balance of $26,775. The company's bank statement showed an ending balance of $29,558.                                                                                                                               B. A deposit on December 31 for $3,600 was not recorded by the bank until January 1.                                                                                                                           C. A check for $175 received from one of Cougar's customers was noted as NSF by the bank.                                                                                                                              ...
1. Prepare the bank reconciliation statement as of April 30, 2020. (10) (a) The bank statement...
1. Prepare the bank reconciliation statement as of April 30, 2020. (10) (a) The bank statement balance is $18,900. (b) The cash account balance is $17,787. (c) Outstanding checks amounted to $8,000. (d) Deposits in transit from sales are $6,000. (e) The bank service charge is $60. (f) NSF Check from Customer Mike for $800. Check #2146 for $152, written to pay supplies expense, was incorrectly recorded in the books for $125.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT