Timele 102 Qult navigation 1 2 3 - son 4 10 11 12 13 14 15 IT out 19 20 21 20 22 23 24 25 Finish up Steel Cos cash balance according to the general ledger was 513.260 on February 28 2021. Acconto the banks received the balance in cobank account on Foamy was 120. The following cash related transaction for the month ended February 2021 occurred: 1 The last deposit of the month for $1.000, was made as a night depost on February 2r by the company's owner for the services herdered during the month of February 2 One of Steel Cos customers pale account by making an $600 FT 3 The bank subtracted a service charge of $40 from the company's bank account for February Outstanding cheques totaled $1,200 at the end of February 5. The bank deducted $650 from Steel Co. account for payment of loan principal 6 The bank returned a $150 cheque marked NSF that a customer used to pay of the account 7. The bank statement showed that cheque number 004 (which Steel Cohad issued to pay for utilities expense) was recorded by the bank as $785, which is the correct amount for the invoice, while the company incorrectly recorded this chegue as $875 Required: 1 Prepare the bank reconciliation for February 28 2021. 18 marks) 2 What is the amount of cash which Steel Co. should report on its statement of financial position on February 20, 2021211 mark % 2 A- B 1 Timele 102 Qult navigation 1 2 3 - son 4 10 11 12 13 14 15 IT out 19 20 21 20 22 23 24 25 Finish up Steel Cos cash balance according to the general ledger was 513.260 on February 28 2021. Acconto the banks received the balance in cobank account on Foamy was 120. The following cash related transaction for the month ended February 2021 occurred: 1 The last deposit of the month for $1.000, was made as a night depost on February 2r by the company's owner for the services herdered during the month of February 2 One of Steel Cos customers pale account by making an $600 FT 3 The bank subtracted a service charge of $40 from the company's bank account for February Outstanding cheques totaled $1,200 at the end of February 5. The bank deducted $650 from Steel Co. account for payment of loan principal 6 The bank returned a $150 cheque marked NSF that a customer used to pay of the account 7. The bank statement showed that cheque number 004 (which Steel Cohad issued to pay for utilities expense) was recorded by the bank as $785, which is the correct amount for the invoice, while the company incorrectly recorded this chegue as $875 Required: 1 Prepare the bank reconciliation for February 28 2021. 18 marks) 2 What is the amount of cash which Steel Co. should report on its statement of financial position on February 20, 2021211 mark % 2 A- B 1
