P6-12 Preparing a Bank Reconciliation and Related Journal Entries LO6-7 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): Balance, April 1, 2021 Bank Statement Deposits during April Notes collected for company (including $73 interest) Cheques cleared during April NSF cheque-A. B. Wright Bank service charges Balance, April 30, 2021 Apr. 1 Balance Apr. Deposits Apr. 30 Balance Cash in Bank 23,800 41,950 Apr. Cheques written Cash on Hand 130 Cheques Deposits Balance $31,600 $ 36,400 68,000 1,210 69,210 $44,800 163 24,410 24,247 73 24,174 24,174 41,400 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 at April 30, 2021. Company's Books Additions: Deductions: HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Bank Statement Additions: Deductions: Required: 1. Prepare a detailed bank reconciliation at April 30, 2021. Company's Books HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Bank Statement Additions: Deductions: Ending correct cash balance Additions: Deductions: Ending correct cash balance 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.) View transaction list Journal entry worksheet > A B C Record note receivable plus interest collected. Note: Enter debits before credits. > 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.) View transaction list Journal entry worksheet < A B C Record note receivable plus interest collected. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal 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 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