CP5-2 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 April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here:

BANK STATEMENT
	Checks	Deposits	Other	Balance
Balance, April 1												$	5,600
April 5	#101	$	620										4,980
April 9					$	2,100							7,080
April 12	#102		160										6,920
April 19	#103		450										6,470
April 22	#104		800										5,670
April 27								EFT payment	$	170			5,500
April 29								NSF check		100			5,400
April 30								Service charge		22			5,378

Cash (A)

April 1	Balance	5,600
April 8		2,100	620	April 2 #101
April 28		420	160	April 10 #102
			450	April 15 #103
			900	April 20 #104
			240	April 29 #105
April 30	Balance	5,750

Required:

1.	Prepare a bank reconciliation for April.
	TIP: Put a check mark beside each item that appears on both the bank statement and whats already been recorded in the accounting records (shown in the T-account). Items left unchecked will be used in the bank reconciliation.

2.	Prepare any journal entries that should be made as a result of the bank reconciliation.
	TIP: Remember to make entries only for items that affect the companys books, not the bank.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

3-If the company also has $920 of petty cash on hand (recorded in a separate account), what total amount should the company report as Cash and Cash Equivalents on the April 30 balance sheet?

4-What should the balance in the Cash account be after recording the journal entries in part 2?