On May Crane Games Ltd received its bank statement from the East Coast Savings Bank showing that Crane had a balance of $ The company's general ledger showed a cash balance of $ at that date. A comparison of the bank statement and the accounting records revealed the following information:
A cheque from one of Crane's customers in the amount of $ that had been deposited during the last week of May was returned with the bank statement as NSF
Bank service charges for the month were $
The company had written and mailed out cheques with a value of $ that had not yet cleared the bank.
Cheque $ which was a payment for advertising expenses of $ was incorrectly recorded in the general ledger as $
During the month, one of Crane's customers paid its account using an electronic funds transfer. The payment was for $
The cash receipts for May amounted to $ and had been deposited in the night drop slot at the bank on the evening of May These were not reflected on the bank statement for May.
a
Prepare the bank reconciliation for Crane at May List items that increase balance as per bank & books first.
