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 #101 $640 $2,200 Balance, April 1 April 5 April 9 April 12 April 19 April 22 April 27 April 29 April 30 #102 #103 #104 170 500 850 Balance $5,700 5,060 7,260 7,090 6,590 5,740 5,560 5,455 5, 432 EFT payment NSF check Service charge $180 105 23 Cash (A) 5,700 April 1 Balance April 8 April 28 2,200 440 640 170 500 950 260 April 2 #101 April 10 #102 April 15 #103 April 20 #104 April 29 #105 April 30 Balance 5,820 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was written for $950. The NSF check had been received from a customer. CP5-2 Part 1 Required: 1. Prepare a bank reconciliation for April. TIP: Put a check mark beside each item that appears on both the bank statement and what's already been recorded in the accounting CP5-2 Part 1 Required: 1. Prepare a bank reconciliation for April. TIP: Put a check mark beside each item that appears on both the bank statement and what's already been recorded in the accounting records (shown in the T-account). Items left unchecked will be used in the bank reconciliation. KMAXX COMPANY Bank Reconciliation At April 30 Company's Books Ending Balance per Cash Account Additions: Bank Statement Ending Balance per Bank Statement Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance CP5-2 Part 3 3. What should the balance in the Cash account be after recording the journal entries in part 2? Balance in Cash Account CP5-2 Part 4 4. If the company also has $940 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? Total Amount of Cash and Cash Equivalents