Rancho food deposits all cash receipts each Wednesday and Friday in a night depositiory, after banking hours. The data required to reconcile the bank statement as of May 31 have been taken from various documents and records and are reporduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account.

1.) Prepare a bank reconciliation as of May 31. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales except for the note recivable of $4,000 and interest of $160 collected on May 14. All checks are written to satisfy accounts payable.

2.)Ilustrate the effects on the amounts and financial statements of the bank reconciliation.

3.) What is the amount of Cash that should appear on the balance sheet as of May 31?

This is taken from Page 210 in Survey of Accounting textbook 7th edition by Carl Warren

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