P6-12 Preparing a Bank Reconciliation and Related Journal Entries L06-7 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, 2021, bank statement and the April ledger accounts for cash showed the following (summarized): Bank Statement Balance, April 1, 2021 Deposits during April Notes collected for company (including $72 interest) Cheques cleared during April NSF cheque-A. B. Wright Bank service charges Balance, April 30, 2021 Cheques Deposits Balance $31,400 $36,300 67,700 1,200 68,900 $44,700 24,200 162 24,038 72 23,966 23,966 Cash in Bank 23,700 Apr. Cheques written 41,800 Apr. 1 Balance Apr. Deposits 41,300 Cash on Hand 120 Apr. 30 Balance A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $4,300 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 at April 30, 2021. HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Bank Statement Company's Books Additions: Additions: 0 0 0 Deductions: Deductions: 0 Ending correct cash balance $ 0 Ending correct cash balance $ 0 3. What were the balances in the cash accounts in the ledger on May 1, 2021? Balance in cash in bank account Balance in cash on hand account 4. What total amount of cash should be reported on the statement of financial position at April 30, 2021? Statement of financial position (April 30, 2021): Current assets: Cash