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Required information [The following information applies to the questions displayed below.] The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date

Required information

[The following information applies to the questions displayed below.] The August bank statement and cash T-account for Martha Company follow:

BANK STATEMENT

Date Checks Deposits Other Balance
Aug. 1 $ 15,750
2 $ 220 15,530
3 $ 10,800 26,330
4 320 26,010
5 210 25,800
9 730 25,070
10 230 24,840
15 3,600 28,440
21 320 28,120
24 18,500 9,620
25 6,400 16,020
30 720 15,300
30 Interest earned $20 15,320
31 Service charge 10 15,310

Cash (A)
Aug. 1 Balance 15,750
Deposits

Checks written

Aug. 2 10,800 220 Aug. 1
12 3,600 320 2
24 6,400 210 3
31 4,600 230 4
730 5
250 15
430 17
720 18
320 19
18,500 23
Aug. 31 Balance 19,220

No deposits were in transit and no checks were outstanding at the end of July.

  1. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?
  2. If the company also has $80 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 August 31 balance sheet?

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