Question
[The following information applies to the questions displayed below.] The bookkeeper at Tony Company has asked you to prepare a bank reconciliation as of February
[The following information applies to the questions displayed below.]
The bookkeeper at Tony Company has asked you to prepare a bank reconciliation as of February 29. The February bank statement and the February T-account for cash showed the following (summarized):
1. Prepare a bank reconciliation for February.
2. Prepare any journal entries required 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.)
3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?
4. If the company also has $70 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 February?
thank you very much
The bookkeeper at Tony Company has asked you to prepare a bank recondhation as of February 29. The February bank statement and the February T.account for cash showed the following tsummartzedy $51,100 n01 $15.500 8.000 $330 43,270 #102 February 12 a103 7.700 February 10,500 February 19 a104 9300 25,470 February 23 40,020 February 26 a105 6.900 February 27 Interest earned 17o 3.290 February 28 Service charge 40 33,250 Cash Feb. 1 8,000 15,500 Feb. 13 14,550 7.700 Feb. 11 Feb. 17 a104 1,250 Feb. 29 Balance Tony Company's bank reconclaton at the end of January showed no outstanding checks, No deposits were in transit at the end of January, but a deposit was in transit at the end of FebruaryStep by Step Solution
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