P6-12 Preparing a Bank Reconciliation and Related Journal Entries LO6-7 The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, 2021, bank statement and the April ledger accounts for cash showed the following (summarized): Bank Statement Cheques Deposits Balance Balance, April 1, 2021 $31,600 Deposits during April $36,400 68,000 Notes collected for company (including $73 interest) 1,210 69,210 Cheques cleared during April $44,800 24,410 NSF cheque-A. B. Wright Bank service charges Balance, April 30, 2021 163 73 24,247 24,174 24,174 Cash in Bank 41,400 Apr. 1 Balance Apr. Deposits 23,800 Apr. Cheques written 41,950 Cash on Hand 130 Apr. 30 Balance A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $4,400 are still outstanding at April 30. No deposits in transit were carried over from March, but a deposit was in transit at April 30. Required: 1. Prepare a detailed bank reconciliation at April 30, 2021. Required: 1. Prepare a detailed bank reconciliation at April 30, 2021. HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Company's Books Bank Statement Ending balance per cash account ? Ending balance per bank statement Additions: Additions: NSF-A.B. Wright X Interest collected ? Outstanding cheques X 0 Deductions: Deductions: NSF-A.B. Wright ? Bank charges ? Deposit in transit X 0 Ending correct cash balance 0 Ending correct cash balance $ 0 2. Prepare any required journal entries as a result of the reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. 0 0 ? 2. Prepare any required journal entries as a result of the reconciliation. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) Answer is not complete. No Transaction General Journal Debit Credit A 1 Cash Notes receivable Interest revenue B 2 Accounts receivable (A. B. Wright) Cash ? 3 Bank service charge expense Cash 3. What were the balances in the cash accounts in the ledger on May 1, 2021? Balance in cash in bank account Balance in cash on hand account 4. What total amount of cash should be reported on the statement of financial position at April 30, 2021? Statement of financial position (April 30, 2021): Current assets: Cash 333 33