Problem 4 River Adventures' cash receipts and payments for the month of May showed the following: The bank portion of last month's bank reconciliation showed the following for River Adventures Ltd.: River Adventures Ltd. Bank Reconciliation April 30, 2020 Cash Receipts Date Amount May 6 $ 2,114 28 $ 1,819 31 $ 1,524 $ 5,457 Cash Payments Date Number Amount May 5 542 $ 1,620 7 543 2,120 15 544 926 31 545 1,535 $ 6,201 Cash balance per bank Add: Deposits in transit $ 12,612 4,230 16,842 Additional information: Less: Outstanding cheques #533 #541 Reconciled cash balance $1,860 982 1) The bank made an error when processing cheque #543. 2) The EFT collection from A. Osborne was not previously recorded. 2,842 $ 14,000 3) Because the EFT for prepaid insurance payment occurred near the end of the month, it has not been recorded yet. The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at April 30. The May bank statement showed the following: 4) The company's policy is to pass on any charges for NSF fees on to the customer. Required: 1. Prepare the bank reconciliation at May 31, 2020 2. Prepare any journal entries required from the reconciliation. Amounts Added to Account (credits) 4,230 2,114 Date Apr. 30 May 1 3 4 6 6 10 18 19 28 28 28 30 31 Amounts De ducted Description from Account (de bits) Opening balance Deposit Cheque No. 541 982 Cheque No. 533 1,860 Cheque No. 542 1,620 Deposit Cheque No. 543 2,210 EFT, collection on account from A. Osborne. Cheque No. 544 926 Deposit Retumed cheque - NSF, R. Lajeunesse 1,105 NSF fee 45 EFT, prepaid insurance payment 927 Bank service charges and debit and credit card fees 95 Balance 12,612 16,842 15,860 14,000 12,380 14,494 12,284 15-03 13,759 12,833 FACE 14,652 13,547 13,502 12,575 12,480 1,475 1,819 Problem 4 The bank portion at at month's bank reconciliation showed the following for her Adventures de River Adventures Lad Bank Reconciliation April 10, 2020 Cash balance per bank Add Deposits intrat 4230 36,13 Low: Dutstanding cheques $110 Reconciled cash balance The reconciled cash balance perbankared with the concled cash balance perbedster the bank reconciliation at Aard. The Maybank statement showed the following Amount Deducted Amounts added to Apr 20 Opening 4210 Cela Co. 54 1362 16, 15.00 14.00 12.10 14. 132 1.630 2.114 1 cwn store 2 Returned cheqNS, R. Lajme 11,5 2. 12.5 12.40 a Barkavice charges and it and credit cards River deres cash receipts and payments for the month of May showed the following Cash Receta Cash Rumente Am Date Number Amount Mayo 2 $ 1.60 32,120 06 Additional information 1) The bar made or when proche 541 2) The IT section from A. Our worly recorded Because the IT for rad na prentunder the end of the month, it has not been recorded yet. The company posts on any charge for at man to the customer 1. Prepare the bank recondition at May 1, 2020 2. Prepare your required from the condition
