11.21 Bank reconciliation LO3 The following information was available from records and the bank statement of Baldacchino Services Ltd, on 31 May. The date and the amount of each deposit as recorded during May were as follows. Date Amount Date Amount 2 5 8 $1357.00 1647.40 1897.96 1257.36 1341.20 May 18 $1111.50 1487.16 1516.20 1636.60 1285.80 The number and amount of each cheque written during the month were recorded in the cash payments journal as follows. Cheque no. Amount Cheque no. Amount Cheque no. Amount 329 330 331 332 $ 966.66 1163.80 1270.26 2015.00 1017.50 165.00 $1546.80 801.30 996.90 960.20 1297.60 241.20 342 343 344 345 $ 277.40 402.80 330.00 1000.20 348.00 337 339 334 The bank statement obtained on 31 May is as shown below. Bank Statement ri Balance $17554.10 Debits Credits $1437.60 Date 328 320 329 330 331 334 $ 242.00 938.16 966.66 1 163.80 1270.26 165.00 1 017.50 2015.00 1 297.60 1 546.80 810.30 996.90 960.20 241.20 277.40 1 357.00 1 647.40 5 6 7 8 332 339 335 336 337 338 340 1 897.96 1 257.36 1341.20 1111.50 1487.16 (continued) Date Debits Credits 343 330.00 May 25 28 29 31 1 516.20 1 636.60 344 1 000.2 268.00 Dishon. Cheque 32.00 Account Fees 1250.00 Totals May 31 Balance 15538.98 15939.98 $17955.10 On 31 May, the bank debited the account for $268.00 for a customer cheque (deposited in Apri) returned because of insufficient funds, and for $32.00 for account fees. On 31 May, the bank also credited the account for $1250.00 for the proceeds of a non-interest-bearing note receivable that it had collected on behalf of the company. Outstanding cheques at the last statement date, 30 April, were: no. 320 for $938.16, no. 328 for $242.00, and no. 326 for $813.00; outstanding deposits were $1437.60 The accountant discovered that cheque no. 336 (in payment for the purchase of office equipment) was correctly issued for $810.30 but incorrectly recorded in the cash payments journal as $801.30 The balance in the Cash at Bank account in the company's records on 1 May was $16998.54 Required (a) Complete the cash journals and post the totals to the Cash at Bank account. Show the Cash at Bank account (T-account form) after it has been balanced on 31 May. (b) Prepare a bank reconciliation statement as at 31 May