Sunland Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May...

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Sunland Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the company's Cash account per its general ledger showed a balance of $6,823.90. The bank statement from Emporia State Bank on that date showed the following balance. Checks and Debits XXX EMPORIA STATE BANK Deposits and Credits XXX Daily Balance 5-317,053.00 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1. The statement included a debit memo of $57.00 for the printing of additional company checks. 2 3. 4. 5. 6. 7. Cash sales of $900.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $950.15. The bank credited Sunland Company for the correct amount. Outstanding checks at May 31 totaled $285.25, and deposits in transit were $1.897.15. On May 18, the company issued check No. 1181 for $684 00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Sunland Company for $648.00. $2.792.00 was collected from a customer note receivable by the bank for Sunland Company on May 31 through electronic funds transfer. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $343.00 that was incorrectly charged to Sunland Company by the bank On May 31, the bank statement showed an NSF charge of $465.00 for a check issued by Sara Ballard, a customer, to Sunland Company on account Prepare the bank reconcillation at May 31, 2022. (List Items that increase balance as per bank & books first Round answers to 2 decimal places, eg 5,275.50) < < SUNLAND COMPANY Bank Reconcillation S $ Sunland Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the company's Cash account per its general ledger showed a balance of $6,823.90. The bank statement from Emporia State Bank on that date showed the following balance. Checks and Debits XXX EMPORIA STATE BANK Deposits and Credits XXX Daily Balance 5-317,053.00 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1. The statement included a debit memo of $57.00 for the printing of additional company checks. 2 3. 4. 5. 6. 7. Cash sales of $900.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $950.15. The bank credited Sunland Company for the correct amount. Outstanding checks at May 31 totaled $285.25, and deposits in transit were $1.897.15. On May 18, the company issued check No. 1181 for $684 00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Sunland Company for $648.00. $2.792.00 was collected from a customer note receivable by the bank for Sunland Company on May 31 through electronic funds transfer. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $343.00 that was incorrectly charged to Sunland Company by the bank On May 31, the bank statement showed an NSF charge of $465.00 for a check issued by Sara Ballard, a customer, to Sunland Company on account Prepare the bank reconcillation at May 31, 2022. (List Items that increase balance as per bank & books first Round answers to 2 decimal places, eg 5,275.50) < < SUNLAND COMPANY Bank Reconcillation S $

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Here is the stepbystep process to prepare the bank reconciliation statement for Sunland Company as of May 31 2022 Each step is accompanied by a diagra... View the full answer