1. Prepare a bank reconciliation for May. Ending Balance Per Bank Statement Additions: Deposit in Transit...

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1. Prepare a bank reconciliation for May. Ending Balance Per Bank Statement Additions: Deposit in Transit Deductions: Outstanding Checks Bank Statement Up-to-Date Cash Balance MARTIN COMPANY Bank Reconciliation At May 31 $ 0 0 Ending Balance Per Cash Account Additions: Interest Earned Deductions: NSF Check Bank Service Charges Company's Books 0 0 Up-to-Date Cash Balance $ 90 350 95 $ 90 90 445 (355) PA5-2 (Algo) 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 bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $21,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 May 1 May 1 May 7 May 29 May 31 Debit Balance Balance #301 #302 #303 #304 Checks $ 12,000 7,400 Cash (A) 21,900 9,000 11,000 7,400 22,030 570 5,300 BANK STATEMENT Deposits $ 9,000 12,000 7,400 570 5,300 2,000 11,000 Interest earned NSF check Service charge Credit Other #301 May 2 #302 May 4 # 303 May 11 # 304 May 23 #305 May 29 $ 190 350 95 Balance $ 21,900 30,900 18,900 11,500 22,500 21,930 22,120 21,770 16,470 16,375 16,375 1. Prepare a bank reconciliation for May. Ending Balance Per Bank Statement Additions: Deposit in Transit Deductions: Outstanding Checks Bank Statement Up-to-Date Cash Balance MARTIN COMPANY Bank Reconciliation At May 31 $ 0 0 Ending Balance Per Cash Account Additions: Interest Earned Deductions: NSF Check Bank Service Charges Company's Books 0 0 Up-to-Date Cash Balance $ 90 350 95 $ 90 90 445 (355) PA5-2 (Algo) 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 bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $21,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 May 31 Balance, May 31 May 1 May 1 May 7 May 29 May 31 Debit Balance Balance #301 #302 #303 #304 Checks $ 12,000 7,400 Cash (A) 21,900 9,000 11,000 7,400 22,030 570 5,300 BANK STATEMENT Deposits $ 9,000 12,000 7,400 570 5,300 2,000 11,000 Interest earned NSF check Service charge Credit Other #301 May 2 #302 May 4 # 303 May 11 # 304 May 23 #305 May 29 $ 190 350 95 Balance $ 21,900 30,900 18,900 11,500 22,500 21,930 22,120 21,770 16,470 16,375 16,375

Answer rating: 100% (QA)

Martin Companys Adjusted corrected Bank Book Bank Rec... View the full answer