Chapter 4 Homework (2) - Goocx 25 byV4D1Lmh7gSoV/edit I was seconds ago 5 + BIUA OD IEEE-SEX 1 2 LIL 7 Chapter 4 Homework The cash records and bank statement for the month of May for Steal Magnolias Inc are shown below. Steal Magnolias Cash Account Records May 1, 2021. to May 31 2021 Cash Balance Cash Balance May 1 2021+Cash Receipts Cash Disbursements = May 31, 2021 55,370 $11.590 $11.680 $5,280 Cash Receipts Cash Disbursements Dat Date Desc Amount e Check Desc Amount 5/3 Sales $ 1,370 517 471 Legal fees $ 1.210 5110 Sales 1.800 5/12 472 Property tax 1 580 5/17 Sales 2.430 5/15 Salaries 3.510 5124 Sales 2.900 5/22 474 Advertising 1,410 5/31 Sales 3.090530 475 Supplies 460 5/31 476 Salaries 3.510 $11.590 $ 11,680 473 Member FDIC 7772854360 May 31 2021 Ending Balance May 31 2021 $6,471 PO Box 162647 Wachova Bank Salefore, AL 74830 We Watch Ovo (405) 369-CASH Account Holder Steal Magnolias Account Number 124 Laundering Way Federal PN 14834 Statement Date Account Summary Beginning Balance Deposits and credits Withdrawals and Debits May 1 2021 NO Total NO Total $6.170 7 S9 672 9 59 371 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc Date NO Amount Desc 514 $ 1370 DEP 5/1 469 460 CHK 5/11 1.800 DEP 512 470 340 CHK 5/18 2.430 DEP 59 41 1.21 CHK 10 5/20 1.100 NOTE 5/11 310 NSF 5/20 51 158 INT 5/12 472 CHK 0 5/25 2 900 DEP 473 3,51 CHK 0 5/31 21 INT 5/20 510 EFT Daily Balance Date Amount 5/1 $ 5/10 512 5.370 5/4 6.740 5/9 5530 5/11 7.020 5/12 5/18 5.440 4 360 24 Chapter 4 Homework (2) - Goo ast edit was seconds ago - 10.5 . 15 - 4 5 6 5/20 474 CHK 3 5125 5/31 SF 5/25 0 41 937 1 5,001 6.491 $ 6,471 $ 9,672 S 5/31 Desc DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned SF Service fees CHK Customer check NSF Nonsufficient funds Additional information a The difference in the beginning balances in the company's records and the bank statement relates to checks *.469 and #470, which are outstanding as of April 30 2021 (por month). The bank made the EFT on May 20 in error The bank accidentally charged Steal Magnolias for payment that should have been made on another account Steal Magnolias Bank Reconciliation May 31, 2021 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliaton