Answer the following questions as of year-end (12/31):

Is cash on the books overstated, understated, or properly stated?

Is cash in the bank overstated, understated, or properly stated?

Would any overstatement or understatement be observed when reconciling the bank cash balance to the book cash balance?

Bank Accounts Date Disbursed Check Numbe 2001 2002 6734 3580 2008 2009 4005 From City Bank City Bank 1st City Portland City Bank City Bank 3rd National To 3rd National Portland City Bank 3rd National 3rd National Portland City Bank Amount 60,000 80,000 42,000 75,000 44,000 67,000 33,000 Books 12/28 12/28 1/3 1/2 12/31 Bank 12/31 1/3 12/31 1/4 1/5 12/31 1/4 Date Deposited Books 12/28 12/31 12/31 12/30 12/31 Bank 12/28 12/31 12/31 12/30 1/3 12/31 1/5 12/31 1/5