Book Show Me How Calculator Bank reconciliation and entries Chart of Accounts Amount Descriptions Instructions The cash account for Brentwood Bike Co. at May 1 indicated a balance of $34,250 During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items. A. Checks outstanding totaled $6.440. B. A deposit of $1,850 representing receipts of May 31, had been made too late to appear on the bank statement. C. The bank had collected for Brentwood Bike Co. $5,250 on a note left for collection The face of the note was $5,000. D. A check for $390 returned with the statement had been incorrectly charged by the bank as $930. E. A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account. F. Bank service charges for May amounted to $30 G. A check for $1.325 from Jennings Co. was returned by the bank due to insufficient funds reconciliation and entries SERUCHOME Chart of Accounts ructions Amount Descriptions Amount Descriptions Bank error in charging check as $390 instead of $930 Bank error in charging check as $930 instead of $390 Bank service charges a Check returned because of insufficient funds Company error in recording note collected by bank Deposit of May 31, not recorded by bank Error in recording check Outstanding checks Note and interest collected by bank EBOOK Show Me How Calculator Bank reconciliation and entries Chart of Accounts Instructions Th Amount Descriptions Bank Reconciliation (X) ne total cash deposited was 1. Prepare a bank reconciliation as of May 31. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Deduct" or "Add" will automatically appear if it is required. Whenever there is more than one adjusting item in the bank portion of the reconciliation or the general ledger portion of the bank reconciliation enter in the order presented in the instructions BRENTWOOD BIKE CO. Bank Reconciliation May 31 1 Cash balance according to bank statement entMain.do?invoker=&takeAssignmentSessionLocator Binprogress=false eBook Show Me How Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Xhe total cash deposited was Instructions Th Amount Descriptions Bank Reconciliation Journal Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account title JOURNAL DESCRIPTION POST. REF. CREDIT DEBIT Chart of Accounts Bank Reconciliation Journal Final Question VIL DOPO Bank Reconciliation Joumal Final Question 3. If a balance sheet were prepared for Brentwood Bike Co on May 31, what amount should be reported as cash? $
