q 4

Question #4 Following is information on the Canada Company. Required: Prepare a bank reconciliation and general journal entries for the month of May. Cash Account 101 Date Explanation PR Debit Credit Balance Apr 30 Balance 587,500 May 1 Payment of May rent #13410 GI $20,000 $67,500 2 Establish petty cash fund #3411 GI $300 $67,200 5 Collected from Smith Inc. GiS24.059 $91,259 8 Payment to Lethbridge Co #3412 GI S45,329 545,934 11 Received payment from Calgary Co Gi $9,800 $35,734 26 Payment of May utilities #3413 G2 $2,565 $53.169 29 Withdrawal by owner #3414 GEL $3,600 $49,569 30 Collected on account from Alberta CG55.121 $54,690 30 May payroll net pay total 83415 G2 S60,650-S5,961 30 Petty cash reconciliation #3416 G2 S275 -56,236 30 Cash sales for May G25125.800 $119.565 Canada Company Bank Reconciliation April 30, 2020 $87.500 Balance Per Bank Add: Deposit in Transit Total $83,540 | Book Balance $4,500 $88,040 Outstanding Cheques #3409 S540 Adjusted Bank Balance $87.50d|Adjusted Bank Balance 587,500 Bank Statement First Provincial Bank of Taber TO: Canada Company May 31, 2020 Bank Statement First Provincial Bank of Taber TO: Canada Company May 31, 2020 Cheques/Charges Deposits $83,5401 #3409 5/2/200X S540 5/1/200X $4,500 $87,500 #3410 573/200X$20,000 $67,500 5/5/200X $24.059 $91,559 #3412 5/9/200X$45,325 $46,234 #3411 5/9/2007 S300 $45,934 5/11/200X $9,680 $55,614 #34135/27/200X $2,565 S53,049 #34155/30/200X560,650 -$7,601 #34145/30/200X $3,600 -$11,201 -$11,2011 5/30/200X $5,121 -$6,080 OvrDrfi|5/31/200X S500 -$6,580 s5/31/200X $50 05/31 Ind $45 $6,5851