M5-12 Preparing a Bank Reconciliation

Use the information in M5-10 to prepare the May 31 bank reconciliation.

Use the data provided in the attachment to answer this question. Please use the template provided below to answer the question.

M5-12
Preparing a Bank Reconciliation
Updates to Bank Statement		Updates to Company's Books
Ending Cash Balance per		Ending Cash Balance per books
Bank Statement
Additions		Additions
Deductions		Deductions
Up to date ending cash balance		Up to date ending cash balance

M5-13 Use your answer to M5-12 to prepare any journal entries needed as a result of the May 31 bank reconciliation. Please use the template provided below to answer the question.

M5-13
Accounting for Unrecorded Items on Bank Reconciliation
DB	CR
A
B

\fM5-4 M5-4 Matching Cash Receipt Processes to Internal Control Principles 1D 2E 3C 4B 5A M5-12 Preparing a Bank Reconciliation Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per books Additions Additions Deductions Deductions Up to date ending cash balance Up to date ending cash balance M5-13 M5-13 M5-13 Accounting for Unrecorded Items on Bank Reconciliation DB A B CR M6-15 M6-15 M6-15 Computing and Interpreting the Gross Profit Percentage Gross Profit Percentage = (Gross Profit / Net Sales) X 100 = = M6-17 M6-17 M6-17 Determining the Cause of Increasing Gross Profit Show your calculations and explain your conclusion E6-5 E6-5 E6-5 Inferring Missing Amounts Basies on Income Statement Relationships Case A B C D E Beginning Cost of Goods Sales Revenue Inventory Purchases Available Cost of Goods Sold $ 700 $ 100 $ 800 $ 300 $ 900 $ 200 $ 800 $ 100 $ 200 $ 800 $ 600 $ 650 $ 1,000 $ 50 900 Cost of Ending Inventory $ $ $ Gross Profit 150 300 $ 250 400 500 E6-7 Reporting Purchases and Purchase Discounts Using Perpetual Inventory System Show all your calculations