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Please show working. ESTION 1 Total Ivars On 31 May 2015, the bank statement of Marlow Furniture Ltd had arrived from First Bank. To prepare
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ESTION 1 Total Ivars On 31 May 2015, the bank statement of Marlow Furniture Ltd had arrived from First Bank. To prepare the bank reconciliation, you gather the following data. a. Marlow Furniture Ltd Cash at Bank account balance at 1 May 2015 was $8,100, Debit. The progressive totals of the Cash Receipts Journal and the Cash Payments Journal, before considering items b to i below, were $24,578.70 and $14,488.29 respectively. b. The bank statement includes a $410.00 deduction for a cheque drawn by Marimont Freight. Marlow Furniture Ltd notified the bank of this bank error. c. Cheques written during May 2015 that had not been presented for payment were: Cheque No. Amount 616 $477.25 806 146.89 810 329.05 d. The May bank statement lists a $200 deposit for a collection on account by EFT from Jack Oates Ltd. e. The balance of bank statement includes a deposit of $899.14 for dividend revenue earned by Marlow Furniture Ltd during May 2015. f. The bank statement lists a $6.25 subtraction for the bank service charge. g. On 31 May 2015, the company deposited $381.14, but this deposit does not appear on the bank statement. Cheque No. Amount 616 $477.25 806 146.89 810 329.05 d. The May bank statement lists a $200 deposit for a collection on account by EFT from Jack Oates Ltd. e. The balance of bank statement includes a deposit of $899.14 for dividend revenue earned by Marlow Furniture Ltd during May 2015. f. The bank statement lists a $6.25 subtraction for the bank service charge. g. On 31 May 2015, the company deposited $381.14, but this deposit does not appear on the bank statement h. The bank statement includes a debit of $262.53 that relates to a cheque received from Lara Masters Ltd on 21 May 2015. The cheque was returned due to "Unauthorised Signature". i. Cheque No.817, written for advertising expense of 869.10, was recorded as 896.10 in company's cash payment journal. j. The 31 May 2015 balance shown on the bank statement was $19,209.82 Credit Required Prepare the bank reconciliation for Marlow Furniture Ltd at 31 May 2015Step by Step Solution
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