Solution-Find total amount of cash and cash equivalents

Find total amount of cash and cash equivalents

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Reference no: EM133073052

The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized) are below.

Martin Company's bank reconciliation at the end of April showed a cash balance of $17,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May.

BANK STATEMENT
	Checks		Deposits
Balance, May 1
May 2			$ 7,000
May 5	#301	$ 10,000
May 7	#302	5,600
May 8			9,000
May 14	#303	480
May 17
May 22
May 27	#304	4,400
May 31
Balance, May 31

Other		Balance
		$ 17,900
		24,900
		14,900
		9,300
		18,300
		17,820
Interest earned	$ 110	17,930
NSF check	260	17,670
		13,270
Service charge	70	13,200
		13,200

Cash (A)
Debit			Credit
May 1	Balance	17,900
May 1		7,000	10,000	#301	May 2
May 7		9,000	5,600	#302	May 4
May 29		5,600	480	#303	May 11
			4,400	#304	May 23
			1,100	#305	May 29
May 31	Balance	17,920

Required:

If the company also has $60 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of May?

Reference no: EM133073052

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Find total amount of cash and cash equivalents

Reference no: EM133073052

Reference no: EM133073052

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