Question

the bookkeeper for Carla Vista Manufacturing Ltd. was trying to determine what items would be used in preparing the company's bank reconciliation that she is completing at May 31, 2018, which was the company's first month of operations. the company's bank statement showed the following.

CARLA VISTA MANUFACTURING LTD. Bank Statement May 31 Amounts Amounts Added Deducted from to Account Date Description Account (Debits) (Credits) May 1 Deposit 25,000 3 Cheque, No. 001 1,490 5 Cheque, No. 002 7,810 15 Deposit 4,610 19 Cheque, No. 004 9,050 21 Cheque, No. 006 990 25 Returned cheque-NSF, S. Gillis 1,310 25 NSF fee 27 Cheque, No. 009 1,980 28 Cheque, No. 010 2,170 31 Bank service charges Balance 25,000 23,510 15,700 20,310 24 11,260 10,270 8,960 8,936 6,956 4,786 4,747 39

prepare Carla Vista's bank reconciliation at May 31 and determine the company's reconciled cash balance.

Answer 1

	Carla vista Manufacturing ltd
	unadjusted bank balance					4,747
	Add:	Deposit in transit				8,320
						13,067
	less:	Checks outstanding				4,690
	Adjusted bank balance					8,377
	unadjusted cash balance					9750
	less:
	NSF,S.Gillis				1,310
	NSF Fee				24
	Bank service charge				39
						1,373
	Adjusted cash balance					8,377