Bank debit memorandum: $18,700 Balance, August 1 71,300 Safety deposit box fee 75 August deposits Checks cleared in August 68.628 Service charge 100 21,292 Bank credit memorandum: Balance, August 31 .. 95 Interest earned A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,000; receipts $74,300; disbursements $73,520; and balance, August 31, $19,780. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,850 and outstanding checks of $4,550. 1 involving a company check drawn in August: A check for $400 to addition, you determine that there was an error August was journalized and posted for $40. creditor on account that cleared the bank (a) Your answer correct. Determine deposits transit. Deposits in transit 7850 SHOW ANSWER SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TEXT VIDEO: APPIED SKILLS Attempts: 1 of 5 used (b) Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks TEXT VIDEO: APPLIED SKILLS LINK Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER (5 Question 2 Kingbird, Inc.'s bank statement from Main Street Bank at August 31, 20177, gives the following information Balance, August 1 $18,780 Bank debit memorandum: 71,380 65 August deposits Safety deposit box fee Checks cleared in August 68,638 Service charge 90 Bank credit memorandum: 21,452 Balance, August 31 85 Interest earned als tt th t iai t for d 0 dt t there was a ro involving a company check drawn in Auqust: A check for $400 to a creditor on account that cleared the bank August was journalized and posted for $40. Determine deposits in transit. Deposits in transit LINK T TEXT VIDEO: APPLIED SKILLS Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks LTNK TEXT VIDEO: APPLLIED SKILLS Prepare a bank reconciliation at August 31. (List items that increase balance as per bank & books first.) KINGBIRD, INC. Bank Reconciliation : . LINK TO TEXT adjusting entr Journalize th s to be made by Kingbird, Inc. at August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Date Account Titles and Explanation Debit Aug. 31 (To record Interest earned) Aug. 31 (To correct eror in recording check. Aug. 31 To recard service charge and sefety deorsit ox fee) vw aus LINK TO TEXT SAVE FOR LATER SUBMIT ANSWER Question Attempts: 0 of used