Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Martin Company's bank reconciliation at the end of April showed a cash balance of $19,000. No deposits were in transit at the end of April,
Martin Company's bank reconciliation at the end of April showed a cash balance of $19,000. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Balance, May 1 May 2 May 5 May 7 May 8 Withdrawals Deposits Other Balance $19,000 $ 8,200 27,200 #301 $11,200 #302 5,900. 16,000 10,100 10,000 20,100 #303 520 19,580 $122 19,702 300 19,402 14,602 62 14,540 14,540 May 14. May 17-Interest Earned: May 22-NSF cheque May 29 May 31-Service charges Balance, May 31 #304 4,800 I +Cash (A) - May 1 Balance 19,000 May 1 8,200 11,200 May 7 10,000 5,900 May 29 4,200 4,800 1,320 5201 May 11 May 30 May 29 May 02 #301 May 04 #302 #303 #304 #305 May 311 Balance 17,660 Required: 1. Prepare a bank reconciliation for May. Bank Statement Ending balance per bank statement Additions: Deposit in transit Deductions: MARTIN COMPANY Bank Reconciliation At May 31 Company's Books Ending balance per Cash account Additions: 0 Deductions: 0 Up-to-date cash balance $ 0 Up-to-date cash balance $ 0 0
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