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Use the following Information to Answer the Questions Below regarding the Monthly Bank Reconciliation. 1. Assume Any Differences Found are Errors made by the Bank.
Use the following Information to Answer the Questions Below regarding the Monthly Bank Reconciliation. 1. Assume Any Differences Found are Errors made by the Bank. 2. Items included on the Books (General Ledger) of Our Business For May were as Follows: 1. Ending GL Cash Balance at May 31st was $53,000 2. Deposits made During the month were on May-22nd=$11,000, May- 28th-$29,000, and May 30th=$28,000. 3. Checks written from our GL account were #302=$12,000, #303=$13,000, #304=$5,000, #305=$14,000 3. Items Included on the Schwab Bank Statement for May were as follows; 1. Ending Bank Balance at May 31-st was $31,000. 2. Interest Earned was $3,000 3. Monthly Bank Fees of $2,000 A 4. Collection by the Bank from Our Customer S.Curry on Account for $24,000 5. Non-Sufficient Funds (NSF) Check from Our Customer L.James on Account for $9,000 6. Deposits recorded by the Bank included the following: May 28-th=$29,000. 7. Checks that were paid and cleared by the bank during May were: #302=$12,000, #303=$31,000. #302= Questions, please enter your answers as a number only no commas, decimals, or dollar signs, etc. Compute the Ending Adjusted Cash Balance as of May 31st= Compute the Total of All Outstanding Checks at May 31st= Compute the Total of All Deposits in Transit at May 31st= Compute the Ending Balance in the General Ledger Cash Account After all of the Adjusting Entries have been made- How many Adjsuting Journal Entries do we need to make to Adjsut our Cash Balance to the Correct Amount=
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