E5-5 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Other BANK STATEMENT Checks Deposits Balance, June 1 Deposits during June $16,900 Checks cleared during June $18,100 Bank service charges Balance, June 30 Balance $ 7,000 23,900 5,800 5,771 5,771 $29 Cash (A) June 1 June Balance Deposits 7,000 17,000 18,400 Checks written June June 30 Balance 5,600 References E5-5 Part 1 Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. HILLS COMPANY Bank Reconciliation June 30 Company's Books $ 5,771 Ending Balance per Cash Account Additions: Bank Statement Ending Balance per Bank Statement Additions: Deposit in Transit 5,771 Deductions: Deductions: Outstanding Checks Bank Service Charges Up-to-Date Cash Balance $ 5,771 Up-to-Date Cash Balance $ 0 E5-5 Part 3 3. What is the balance in the Cash account after the reconciliation entries? Cash Balance Hints References eBook & Resources Hint #1 Check my work value: 10.00 points Required information E5-5 Part 4 4. In addition to the balance in its bank account, Hills Company also has $100 of petty cash on hand. This amount is recorded in a separate T-account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Total Amount of Cash