Marin Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the companys Cash account showed a balance of $6,908.90. The bank statement from Emporia State Bank on that date showed the following balance.

Emporia State Bank
Checks and Debits		Deposits and Credits		Daily Balance
XXX		XXX		5-31 7,138.00

A comparison of the details on the bank statement with the details in the Cash account revealed the following facts.

1.

The statement included a debit memo of $58.00 for the printing of additional company checks.

2.

Cash sales of $901.15 on May 12 were deposited in the bank. The cash receipts record and the deposit slip were incorrectly made for $951.15. The bank credited Marin Company for the correct amount.

3.

Outstanding checks at May 31 totaled $267.25, and deposits in transit were $1,898.15.

4.

On May 18, the company issued check No. 1181 for $686.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly recorded by Marin Company for $668.00.

5.

$2,878.00 was collected by the bank for Marin Company on May 31 for a note receivable through electronic funds transfer.

6.

Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $342.00 that was incorrectly charged to Marin Company by the bank.

7.

On May 31, the bank statement showed an NSF charge of $550.00 for a check issued by Sara Ballard, a customer, to Marin Company on account.

Prepare the bank reconciliation at May 31, 2022. (List items that increase balance as per bank & books first.)

MARIN COMPANY Bank Reconciliation choose the accounting period For the Month Ended May 31, 2022May 31, 2022For the Year Ended May 31, 2022
select an opening name for section one Adjusted cash balance per bankError in depositError in recording checkOutstanding checksCash balance per bank statementNSF checkDeposits in transitCheck printing chargeBank errorElectronic funds transfer received				$enter a dollar amount
select between addition and deduction AddLess:
select a reconciling item Bank errorAdjusted cash balance per bankCheck printing chargeOutstanding checksError in recording checkError in depositNSF checkCash balance per bank statementDeposits in transitElectronic funds transfer received		$enter a dollar amount
select a reconciling item Check printing chargeBank errorError in depositCash balance per bank statementError in recording checkOutstanding checksAdjusted cash balance per bankElectronic funds transfer receivedNSF checkDeposits in transit		enter a dollar amount
				enter a subtotal of the two previous amounts
				enter a subtotal of the two previous amounts
select between addition and deduction AddLess: select a reconciling item Deposits in transitError in depositCash balance per bank statementOutstanding checksNSF checkCheck printing chargeError in recording checkBank errorAdjusted cash balance per bankElectronic funds transfer received				enter a dollar amount
select a closing name for section one Check printing chargeNSF checkElectronic funds transfer receivedCash balance per bank statementAdjusted cash balance per bankOutstanding checksError in depositBank errorError in recording checkDeposits in transit				$select a closing name for section one
select an opening name for section two NSF checkBank errorOutstanding checksCheck printing chargeAdjusted cash balance per booksError in depositError in recording checkElectronic funds transfer receivedDeposits in transitCash balance per books				$enter a dollar amount
select between addition and deduction AddLess: select a reconciling item Deposits in transitError in recording checkBank errorError in depositAdjusted cash balance per booksCheck printing chargeNSF checkElectronic funds transfer receivedOutstanding checksCash balance per books				enter a dollar amount
				enter a subtotal of the two previous amounts
select between addition and deduction AddLess:
select a reconciling item Cash balance per booksElectronic funds transfer receivedError in recording checkError in depositNSF checkCheck printing chargeBank errorAdjusted cash balance per booksOutstanding checksDeposits in transit		$enter a dollar amount
select a reconciling item Error in recording checkCheck printing chargeDeposits in transitError in depositOutstanding checksAdjusted cash balance per booksNSF checkBank errorElectronic funds transfer receivedCash balance per books		enter a dollar amount
select a reconciling item Adjusted cash balance per booksError in recording checkBank errorError in depositDeposits in transitCash balance per booksCheck printing chargeOutstanding checksNSF checkElectronic funds transfer received		enter a dollar amount
select a reconciling item NSF checkDeposits in transitAdjusted cash balance per booksError in depositCheck printing chargeError in recording checkBank errorCash balance per booksOutstanding checksElectronic funds transfer received		enter a dollar amount
				enter a subtotal of the four previous amounts
select a closing name for section two Cash balance per booksCheck printing chargeElectronic funds transfer receivedAdjusted cash balance per booksDeposits in transitOutstanding checksError in recording checkBank errorNSF checkError in deposit				$enter a total amount for the section two

Current Attempt in Progress Marin Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the company's Cash account showed a balance of $6,908.90. The bank statement from Emporia State Bank on that date showed the following balance. Checks and Debits Emporia State Bank Deposits and Credits XXX Daily Balance 5-31 7,138.00 XXX A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1. 2. 3. 4. The statement included a debit memo of $58.00 for the printing of additional company checks. Cash sales of $901.15 on May 12 were deposited in the bank. The cash receipts record and the deposit slip were incorrectly made for $951.15. The bank credited Marin Company for the correct amount. Outstanding checks at May 31 totaled $267.25, and deposits in transit were $1,898.15. On May 18, the company issued check No. 1181 for $686.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly recorded by Marin Company for $668.00. $2,878.00 was collected by the bank for Marin Company on May 31 for a note receivable through electronic funds transfer. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $342.00 that was incorrectly charged to Marin Company by the bank. On May 31, the bank statement showed an NSF charge of $550.00 for a check issued by Sara Ballard, a customer, to Marin Company on account. 5. 6. 7. MARIN COMPANY Bank Reconciliation May 31, 2022 Cash balance per bank statement 7138 Add Bank error 342 Deposits in transit 1898.15 2240.15 9378.15 Less Outstanding checks > 267.25 i Adjusted cash balance per bank 9110.90 Cash balance per books $ 6908.90 Add Electronic funds transfer received 2878 9786.90 Less Less V: Check printing charge $ 58 i Error in deposit 50 Error in recording check 18 NSF check 550 i 676 i Adjusted cash balance per books 9110.90 e Textbook and Media Solution (b) Prepare a tabular analysis for the necessary adjustments for Marin Company at May 31, 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Notes Rec. Accts. Rec. Accts. Pay. Cash + + May 31 2878 -2878 31 -550 550 31 -50 31 -18 31 -58 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Liabilities + Stockholders' Equity Accts. Pay. + Rev. Exp. Sales revenue Bank charges expense Miscellaneous expense Interest revenue 50 18 58 Bank charges expense e Textbook and Media