ework Saved PA5-3 (Algo) Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries [LO 5-4, LO 5-5) The following information applies to the questions displayed below.) The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other December 1 December 6 $ 7,630 December 11 560 $ 28,000 December 17 14,400 December 23 36,000 December 26 560 December 30 19,900 19,000 NSF' December 31 Interest earned December 31 Service charge NSF check from J. Left, a customer. Balance $ 49,200 41,570 69,010 54, 610 90,610 90,050 88,840 88, 895 88, 735 $ 310 55 160 Cash (A) Credit Debit Balance December 1 49,200 Deposits December 11 December 23 December 30 December 31 28,000 36,000 19,000 13.000 Checks written during December: 7,630 560 14,400 560 Prey 1 2 3 4 of 10 !!! Next > apter 5 Homework Seved Help Chucks BANK STATEMENT Deposits Other 1 Date December 1 December 6 December 11 December 17 December 23 December 26 December 30 December 31 December 31 $ 7.630 560 14,400 $ 28,000 36,000 Balance $ 49,200 41,570 59,010 54,610 90,610 90,050 88,840 88, 895 88,735 Tot 4 560 19, 900 19,000 NSE Interest oarned Service charge $ 310 55 160 NSF check from J. Left, a customer. Cash (A) Credit Debit Balance December 1 49,200 Deposits December 11 December 23 December 30 December 31 28,000 36,000 19,000 13,000 Checks written during December 7,630 560 14,400 560 160 19,900 4.650 December 31 Balance 97,340 There were no deposits in transit or outstanding checks at November 30, Prey 1 CSO 2 3 4 of 10 Next > M amiddleware252F Homework Seved Help Save & E PA5-3 (Algo) Part 1 and 2 Required: 1. Identify and list the deposits in transit at the end of December. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) ? $28.000 2 $36,000 2 $19.000 $13,000 2. Identify and list the outstanding checks at the end of December (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect) 1 Prev 4 2 3 of 10 Next > sle M - 5 Homework ved Help Lave & ER Required information $13,000 2. Identify and list the outstanding checks at the end of December. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) ? $7,630 $560 $14,400 2 $160 19,900 2 $4,650 Prev Next > 1 2 3 4 of 10 Sign Out UCH 2 PA5-3 (Algo) Part 3 Check my won 3. Prepare a bank reconciliation for December 2 or 4 Bank Statement Ending Balance Per Bank Statement Additions: STEWART COMPANY Bank Reconciliation Al December 31 Company's Books Ending Balance Per Cash Account Additions: 0 0 0 Deductions: Deductions: 0 M Sign Out Help Lars Ex Required information Check -- Ending Balance Per Bank Statement Additions: Ending Balance Per Cash Account Additions: 0 Deductions: 0 0 Deductions: 0 Up-to-Date Cash Balance $ 0 Up to Date Cash Balance $ 0 0 M Help Save PA5-3 (Algo) Part 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet M Required information DE Record the service charges of $160 deducted by the bank. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal 3 Required information AB DE f4 Record the return of the J. Left check of $310 due to insufficient funds. Note: Enter debits before credits. Transaction General Journal Debit Crec 3 Record entry Clear entry View ge Required information A B E Record the checks outstanding at the end of the month. Note: Enter debits before credits. Transaction General Journal 4 Debit Credit Record entry Clear entry View general journal Required information Record the deposits in transit at the end of the month. Note: Enter debits before credits. General Journal Debit Credit Transaction 5 View general journa Clear entry Record entry 4 of 10 Help Save & Ches 19,900 4,650 December 31 Balance 97,340 There were no deposits in transit or outstanding checks at November 30, PA5-3 (Algo) Part 5 and 6 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $310 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 December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents M