https CP5-2 Preparing a Bank Reconciliation and Journal Entries and Reporting Ca

Question

https CP5-2 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5 (The following information applies to the questions displayed below) The April 30 bank statement for KMaxx Company and the s 7500 F101 s 950 April 5 April 9 April 12 April 19 April 22 April 27 April 29 $4,000 102 300 #103 1000 104 2,000 EFT payment $400 6850 NSF check 200 6650 Service April 30 35 6615 charge April 1 April B Aprl 28 April 2 01 April 10 102 April15 #103 April 20 104 April 29 05 4,000 950 1,050 300 No outstanding checks and no deposits in trensit were noted in March. However, there are deposits in KMaxx's creditors. Check 104 was written for $2.300. The NSF check had been recelved from a customer Section Break

Explanation / Answer

BANK RECONCILIATION STATEMENT Ending balance as per bank statement 6615 Ending Balance as per Books 7600 Additions: Additions: Deposits in transit 1050 Subtotal 7665 Subtotal 7600 Deductions: Deductions: Error in recording check wirtten 100 NSF check 200 Outstanding checks 600 700 Service charges 35 EFT payment 400 635 Adjusted balance as per Bank statement 6965 Adjusted balance as per books 6965

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