Term Project 2.xlsx - Bank Reconciliation As of May 31 ...

Bank
As o
Balance per bank statements
Add
Deposit in transit
Understated collection- bank error
Overstatement of payment -bank error
Less
Outstanding cheques
Overstated collection- bank error
Understated payment- bank error
Adjusted balance as per bank

k Reconciliation
of May 31, 2022
Amount
Amount
$ 6,279.47 Balance Per Books (Unadjusted) $ 4,764.77
Add
EFT Collection by bank
Understated collection- book error
Overstatement of payment -book error
Less
$ 830.00
EFT payment
NSF cheque
Bank Charge
Interest expense
Fees for NSF cheque
Overstated collection book error
Understated payment book error
Adjusted balance as per book

$ 89.70
$ 4,779.17

Genral Journal
Entry # Date Journal Entries Type of Account Dr
1 2-May Booklets Asset $ 2,655.00
HST paid Asset $ 345.15
Prepaid Booklets Asset
Cash (cheque #5) Asset
*Booklets recived and payed on May 2. AJE needed
2 2-May Prepaid Rent Asset $ 6,000.00
Cash (Cheque #6) Asset
*prepaid rent for 100 hours of use between May and
November 2022. AJE needed
3 2-May Prepaid Office Supplies Asset $ 637.50
HST paid $ 82.88
Cash (refund Tanya)
* bought office supplies with personal credit card,
a refund to Tanya is one immediately. AJE needed
4 3-May Website Asset $ 5,600.00
Cash
*AJE needed