On April 30, the bank reconciliation of Hidden Valley Company shows a deposit in transit of $1,437. The May bank statement and the general ledger Cash account in May show the following:

HIDDEN VALLEY COMPANY
Cash Account (partial)
Deposits Made
Date ____________________ Amount
May 2 .............................. $2,255
9 ...................................... 3,218
16 ...................................... 945
23 .................................... 1,298
30 .................................... 1,353
Additional information:
1. The bank did not make any errors in May.
2. EFT is an electronic on-line payment from a customer.
Instructions
(a) List the deposits in transit at May 31.
(b) List any other items that must be included in the bank reconciliation. Describe the impact of each item on the bank reconciliation?

Transcribed Image Text:

HIDDEN VALLEY COMPANY Bank Statement (partial) Deposits/Credits Description Date Amount May1 Deposit 5 Deposit 12 Deposit 20 Deposit 26 Deposit $1,437 2,255 3,281 945 1,298 956 32 30 30 EFT Interest Earned