P$5-12($Algo$)$ Preparing a Bank Reconciliation and Related Journal Entries LO$5-5$

The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, $$I don$$t have time.$$ You have been asked to prepare a reconciliation and review the procedures with the bookkeeper.

The April $30,$ current year, bank statement and the April ledger accounts for cash showed the following $($summarized$)$:

Bank Statement

Cheques Deposits Balance

Balance, March $31,$ current year $ $31,600$

Deposits during April $ $36,40068,000$

Notes collected for company $($including $$73$ interest$)1,21069,210$

Cheques cleared during April $ $44,80024,410$

NSF cheque$$A$.$ B$.$ Wright $16324,247$

Bank service charges $7324,174$

Balance, April $30,$ current year $24,174$

Cash in Bank

Mar. $31$ Balance $23,800$

Apr. Deposits $41,950$ Apr. Cheques written $41,400$

Cash on Hand

Apr. $30$ Balance $130$

A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $$4,400$ are still outstanding at April $30.$ No deposits in transit were carried over from March, but a deposit was in transit at April $30.$

Required:

$1.$ Prepare a detailed bank reconciliation for April.

$2.$ Prepare any required journal entries as a result of the reconciliation. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

$3.$ What were the balances in the cash accounts in the ledger on April $30,$ current year?

$4.$ What total amount of cash should be reported on the statement of financial position at April $30?$