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Please do it asap.. The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for
Please do it asap..
The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the May T-account for cash showed the transactions listed below. Martin Company's bank reconciliation at the end of April showed a cash balance of $18,300. No deposits were in transit at the end of April, but a deposit was in transit at the end of May Withdrawals Deposits $ 7,500 # 301 $10, see # 302 6,250 10,000 Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17-Interest Earned May 22-NSF cheque May 30 May 31-Service charges Balance, May 31 Balance $18,300 25,800 15,300 9,050 19,050 18,600 18,715 18,485 14,385 14,330 14,330 # 303 4501 115 # 304 230 4,180 55 + Cash (A) Balance May 1 May 1 May 7 May 29 18,300 7,500 1 , 3,5ee 10,500 6,250 450 4,100 1,250 May 02 May 04 May 11 May 30 May 29 #301 #302 #303 #384 #305 May 31 Balance 16,750 Required: 1. Prepare a bank reconciliation for May MARTIN COMPANY Bank Reconciliation At May 31 Company's Books $ 14,330 Ending balance per Cash account Additions: 16,750 Bank Statement Ending balance per bank statement Additions: Deposit in transit 16,750 14,330 Deductions: Deductions: Outstanding cheques 0 $ 16,750 Up-to-date cash balance $ 14,330 Up-to-date cash balance 2. Prepare any Journal entries required as a result of the bank 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 Step by Step Solution
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