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Question #4 Following is information on the Canada Company. Required: Prepare a bank reconciliation and general journal entries for the month of May. Account Credit
Question #4 Following is information on the Canada Company. Required: Prepare a bank reconciliation and general journal entries for the month of May. Account Credit PR Debit $20,000 $300 $24,059 $45,325 Cash Date Explanation Apr 30 Balance May 1 Payment of May rent #3410 2 Establish petty cash fund #3411 5 Collected from Smith Inc. 8 8 Payment to Lethbridge Co 43412 11 Received payment from Calgary Co 26 Payment of May utilities #3413 29 Withdrawal by owner #3414 30 Collected on account from Alberta Co 30 May payroll net pay total #3415 30 Petty cash reconciliation #3416 30 Cash sales for May $9,800 EEEE E C G CCCC 101 Balance $87,500 $67,500 $67,200 $91,259 $45,934 $55,734 $53,169 $49,569 $54,690 $5,961 $6,236 $119,565 Bank Statement TO: Canada Company Cheques/Charges $2,565 $3,600 $5,121 5/1/200X #3409 #3410 5/2/200X 5/3/200x $540 $20.000 $60,650 $275 5/5/2007 $125,800 #3412 #3411 5/9/200X 5/9/200x $45,325 $300 First Provincial Bank of Taber May 31, 2017 Deposits $83,540 $4,500 $87,500 $67,500 $24,059 $91,559 $46,234 $45,934 $9,680 $55,614 $53,049 $7,601 $11,2011 -$11,201 $5,121 $6,080 $6,580 $45 $6,585 5/11/200x Canada Company Bank Reconciliation April 30, 2017 #3413 #3415 #3414 5/27/200X 5/30/200x 5/30/200x $2,565 $60,650 $3,600 5/30/200x Book Balance $87,500 Balance Per Bank Add: Deposit in Transit $83,540 $4,500 Ovr Doft SC 5/31/200X 5/31/200x $500 $50 05/31 Int Total $88,040 Outstanding Cheques # 3409 $540 Adjusted Bank Balance $87,500 Adjusted Bank Balance $87,500 More info on next page
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