Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Just fill in the 2 blank parts please! and please do it soon!! The bookkeeper for Sandhill Manufacturing Ltd. was trying to determine what items
Just fill in the 2 blank parts please! and please do it soon!!
The bookkeeper for Sandhill Manufacturing Ltd. was trying to determine what items would be used in preparing the company's bank reconciliation that she is completing at May 31, 2021, the end of the company's first month of operations. The company's bank statement showed the following: SANDHILLMANUFACTURING LTD. Bank Statement May 31 Amounts Deducted from Account (Debits) Amounts Added to Account Date Description Balance Credits) May 1 Deposit 30,000 30,000 3 Cheque. No. 001 1,936 28,064 5 Cheque, No.002 8,564 19.500 15 Deposit 5,580 25,080 19 Cheque. No. 004 9.951 15,129 21 Cheque, No. 006 1.196 13,933 25 Returned cheque-NSF, S. Gillis 1,620 12,313 25 NSF fee 40 12,273 27 Cheque, No. 009 2.560 9,713 28 Cheque, No. 010 2,356 7,357 31 Bank service charges 52 7.305 Sandhill's summary of cash receipts (which were all deposited) and summary of cheques (which were all mailed out to suppliers) for 31 Bank service charges 52 7.305 Sandhill's summary of cash receipts (which were all deposited) and summary of cheques (which were all mailed out to suppliers) for the month of May showed the following: Cash Receipts Cash Payments Amount Date Number Amount Date May 1 $30,000 May 2. 001 $1,936 15 5,580 3 002 8,564 31 9.376 14 003 2,020 $44,956 13.951 15 004 18 005 428 19 006 1,196 22 007 2,564 23 008 640 25 009 2,560 26 010 2,356 $32,215 (a) Your answer is correct. Your answer is partially correct. Prepare Sandhill's bank reconciliation at May 31. (List items that increase balance as per bank & books first.) SANDHILLMANUFACTURING LTD Bank Reconciliation May 31 Cash balance per bank statement $ 7.305 Add Deposits in transit 9.376 16681 Less Outstanding cheques 5652 Reconciled cash balance per bank $ 11029 Cash balance per books $ Less Returned cheque - NSF S. Gillis 1,620 i Bank service charges 52 NSF fee 40 1 1712 Reconciled cash balance per books V $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started