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The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, I don't have time. You have been asked
The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, 2021, bank statement and the April ledger accounts for cash showed the following (summarized): Bank Statement Cheques Deposits Balance Balance, April 1, 2021 $34,000 Deposits during April $ 37,600 71,600 Notes collected for company (including $85 interest) 1,330 72,930 Cheques cleared during April $46,000 26,930 175 26,755 NSF cheque-A. B. Wright Bank service charges. Balance, April 30, 2021 85 26,670 26,670 Cash in Bank 42,600 Apr. 1 Balance Apr. Deposits 25,000 Apr. Cheques written 43,750 Cash on Hand 250 Apr. 30 Balance A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $5,600 are still outstanding at April 30. No deposits in transit were carried over from March, but a deposit was in transit at April 30. Required: 1. Prepare a detailed bank reconciliation at April 30, 2021. HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Company's Books Bank Statement Additions: Additions
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