an ezto.mheducation.com Bank Reconciliation L M5-12 Preparing a O 5-4 Use the fo

Question

an ezto.mheducation.com Bank Reconciliation L M5-12 Preparing a O 5-4 Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT DateChecks Deposits Other Balance May 1 $ 560 600 NSF Check $140 270 160 615 Service charge 95 375 $140 #25100 12 #4 190 28 #5 110 30#6105560 May 31 #8 145 Cash (A) 560 May 1 May 3 140 100 100 190 110 105 560 115 330 145 May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 May 29 May 30 May 31 725 Bank Reconciliation Bank Statement Company's Books Ending Balance per Bank Statement Additions Ending Balance per Cash Account Additions Deposit in Transit Deductions: Deductions: Bank Service Charges NSF Check Outstanding Checks #7 0 Up-to-Date Cash Balance Up-to-Date Cash Balance

Explanation / Answer

Bank statement Company's books Ending balance per bank statement 375 Ending balance per Cash account 725 Additions: Additions: Deposit in transit 330 330 705 725 Deductions: Deductions: Outstanding checks #3 100 NSF check 140 Outstanding checks #7 115 Service charge 95 215 235 Up to- date cash balance 490 Up to- date cash balance 490

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