The following information is available for BWD Company as of May 31, 2023: a. Cash...
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The following information is available for BWD Company as of May 31, 2023: a. Cash on the books as of May 31 amounted to $114,175.28. Cash on the bank statement for the same date was $141,717.08. b. A deposit of $14,249.84, representing cash receipts of May 31 , did not appear on the bank statement. c. Outstanding checks totaled $7,293.64. d. A check for $2,420.00 returned with the statement was recorded as $2,024.00. The check was for advertising. e. The bank service charge for May amounted to $26.00. f. The bank collected $36,400.00 for BWD Company on a note. The face value of the note was $36,000.00. g. An NSF check for $1,140.00 from a customer, Thomas Johnson, was returned with the statement. h. The bank mistakenly deducted a check for $800.00 that was drawn by Triple K Corporation. i. The bank reported a credit of $460.00 for interest on the average balance. Required 1. Prepare a bank reconciliation for BWD as of May 31, 2023. 15pts 2. Prepare the necessary journal entries from the reconciliation. 10pts 3. State the amount of cash that should appear on BWD's balance sheet as of May 31. 5pts
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The following information is available for BWD Company as of May 31, 2023: a. Cash on the books as of May 31 amounted to $114,175.28. Cash on the bank statement for the same date was $141,717.08. b. A deposit of $14,249.84, representing cash receipts of May 31 , did not appear on the bank statement. c. Outstanding checks totaled $7,293.64. d. A check for $2,420.00 returned with the statement was recorded as $2,024.00. The check was for advertising. e. The bank service charge for May amounted to $26.00. f. The bank collected $36,400.00 for BWD Company on a note. The face value of the note was $36,000.00. g. An NSF check for $1,140.00 from a customer, Thomas Johnson, was returned with the statement. h. The bank mistakenly deducted a check for $800.00 that was drawn by Triple K Corporation. i. The bank reported a credit of $460.00 for interest on the average balance. Required 1. Prepare a bank reconciliation for BWD as of May 31, 2023. 15pts 2. Prepare the necessary journal entries from the reconciliation. 10pts 3. State the amount of cash that should appear on BWD's balance sheet as of May 31. 5pts 