Please help answer these questions. Thank you!

Post by **answerhappygod** » Mon May 30, 2022 7:33 am

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The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the May T-account for cash showed the transactions listed below. Martin Company's bank reconciliation at the end of April showed a cash balance of $18,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. Withdrawals Deposits Other Balance, May 1 Balance $18,900 May 2 May 5 $ 8,100 27,000 15,900 May 7 #301 $11,100 # 302 9,950 May 8 5,950 510 10,000 19,950 May 14 # 303 19,440 May 17-Interest Earned 19,561 May 22-NSF cheque $ 121 290 19,271 May 29 # 304 4,700 14,571 May 31-Service charges Balance, May 31 61 14,510 14,510 Balance May 1 May 1 May 7 May 29 May 02 May 04 May 11 May 30 May 29 May 31 Balance + Cash (A) - 18,900 8,100 10,000 4,100 17,530 11,100 5,950 510 4,700 1,310 #301 #302 # 303 # 304 #305
Required: 1. Prepare a bank reconciliation for May. Bank Statement Ending balance per bank statement Additions: Deductions: Up-to-date cash balance MARTIN COMPANY Bank Reconciliation At May 31 Company's Books Ending balance per Cash account Additions: Deductions: Up-to-date cash balance
2. Prepare any journal entries required as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Ⓒ View transaction list View journal entry worksheet No Date General Journal Debit Credit
3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? Cash balance 4. If the company also has $51 on hand, which is recorded in a different account called Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of May? Cash and Cash Equivalents