bank reconciliation and entries

ww.com/lrm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator assignment-take&inprogress=false Show Me How oBook Caloulator Print hem Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,140. During May, the total cash deposited was $70,590 and checks written totaled $65,540. The bank statement indicated a baance of $23,9300 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items a. Checks outstanding totaled $10,660. b. A deposit of s8,680, representing receipts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,590 on a note left for collection. The face of the note was $4,240 d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. e. A check for $850 returned with the statement had been recorded by Brentwood Bke Co. as $580. The check was for the payment of an obligation to Adkins Co. on eccount f. Bank service charges for May amounted to $50. 9 A check for $1,060 from Jennings Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of May 31 Brentwood Bike Ce Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance Cash balance acconding to company's records Adjusted belence 2. Journalize the necessary entries (a) that increase cash and (b.) that decrease cash. The accounts have not been cosed For a compound transaction it an amount box does not require an entry Check Hy Work 2 more Check My Work uses emaining Previous Show Me How aBook Print hem Caloulator May 31 Cash balance according to bank statement Adjusted bala Cash balance according to company's ecords Adjated beleno 2. ournalie the necessary entries () that increase cash and (b) that deceese cas. The accunts have not been cosed. For a compound trensaction, an amount bax does not require an entrys leave it blank a May 3 bMay 3 3. If belance sheet is prepared for Brentwood Bke Co on May 31 what amount should be reported 3s cen Check Hy Wok moCheck My Wok 0s Previous n