[The following information applies to the questions displayed below) The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Cash Balance May 31, 2021 $5,340 DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance Cash May 1, 2021 + Cash Receipts Disbursements $5,400 $11,440 $11,5ee Cash Receipts Cash Disbursements Date Desc. Amount Date Check Desc 5/3 Sales $ 1,340 5/7 471 Legal fees 5/10 Sales 1,770 5/12 472 Property tax 5/17 Sales 2,400 5/15 473 Salaries 5/24 Sales 2,87e 5/22 474 Advertising 5/31 Sales 3,060 5/30 475 Supplies 5/31 476 Salaries $11,440 Amount $ 1,180 1,550 3,480 1,380 43e 3,480 $11,500 Member FDIC P.O. Box 162647 Bowlegs, OK 74830 (485) 369 -CASH Account Holder Midivest Bank Looking Out For You Diaz Entertainment Account Number: 7772854360 Member FDIC 7772854368 May 31, 2021 Ending Balance May 31, 2021 $6,458 P.O. Box 162647 Midivest Bank Bowlegs, OK 74830 Looking Out For You (485) 369-CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary Beginning Balance Deposits and Credits withdrawals and Debits May 1, 2021 NO. Total NO. Total 56,140 7 $9,446 9 59,128 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc Date No. Amount Desc. 5/4 $ 1,340 DEP 5/1 469 $ 430 CHK 5/11 1,770 DEP 5/2 470 310 CHK 5/18 2,480 DEP 5/9 471 1,180 CHK 5/20 1,000 NOTE 5/11 280 NSF 5/20 48 INT 5/12 472 1,558 CHK 5/25 2,870 DEP 5/18 473 3,480 CHK 5/31 18 INT 5/20 480 EFT 5/25 474 1,380 CHK 5/31 38 SF $ 9,446 $9,128 Daily Balance Date Amount 5/1 $5,710 5/2 5,400 5/4 6,740 5/9 5,560 5/11 7, ese 5/12 5,5ee 4,420 4,988 5/25 6,478 5/31 $6,458 5/18 5/20 Desc CHK Customer check DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected NSF Nonsufficient funds EFT Electronic funds transfer Additional information a. The difference in the beginning balances in the company's records and the bank statement relates to checks #469 and #470, which are qutstanding as of April 30, 2021 (prior month) b. The bank made the EFT on May 20 in error. The bank accidentally charged Dlaz for payment that should have been made on another account. Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2021 (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) DIAZ ENTERTAINMENT Bank Reconciliation May 31, 2021 Company's Cash Balance Por general ledger Bank's Cash Balance Per bank statement DIAZ ENTERTAINMENT Bank Reconciliation May 31, 2021 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation 2 Required information [The following information applies to the questions displayed below) The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Part 2012 DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 5 points Cash Balance Cash Balance May 1, 2021 55,400 May 31, 2021 55,340 - Cash Receipts $11,440 Cash Receipts Desc Sales Sales Sales Sales Sales Date 573 5/10 5/17 5/24 5/31 References Amount $ 1,340 1,770 2,400 2,870 3,860 Cash Disbursements $11,500 Cash Disbursements Check Desc 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Date 5/7 5/12 5/15 5/22 5/30 5/31 Amount $ 1,180 1,550 3,480 1,380 430 3,480 $11,500 $11,440 Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,458 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (485) 369-CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits May 1, 2021 NO. Total NO. Total $6,140 7 $9,446 9 $9,128 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc 5/4 $ 1,340 DEP 5/1 469 $ 430 CHK 5/11 1,770 DEP 5/2 470 310 CHK 5/18 2,400 DEP 5/9 471 1,180 CHK 5/20 1,000 NOTE 5/11 280 NSF 5/20 48 INT 5/12 472 1,550 5/25 2,870 DEP 5/18 473 3,480 5/31 18 CHK INT 5/20 480 EFT 5/25 474 1,380 CHK 5/31 38 SF $ 9,446 $9,128 Daily Balance Date Amount 5/1 $5,71 5/2 5,400 5/4 6,74e 5/9 5,560 5/11 7,050 5/12 5,500 5/18 4,428 5/2e 4,988 5/25 6,478 5/31 $ 6,458 Desc DEP Customer deposit INT Interest earned SF Service fees 2 Desc DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned SF Service fees CHK Customer check NSF Nonsufficient funds 2012 Part 22 Additional information a. The difference in the beginning balances in the company's records and the bank statement relates to checks #469 and 2470, which are outstanding as of April 30, 2021 (prior month) b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account 5 2. Record the necessary cash adjustments (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Total entries to the same account together when entering in the journal entry carousel) Journal entry worksheet >
