1. Identify and list the deposits in transit at the end of December. (You may select more than one answer. Single click the box withthe question mark to produce a check mark for a correct answer and double click the box with the question mark to empty thebox for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)$28,000$37,000$19,000$14,0002. Identify and list the outstanding checks at the end of December. (You may select more than one answer. Single click the box withthe question mark to produce a check mark for a correct answer and double click the box with the question mark to empty thebox for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)$7,680$610$16,900$210$23,400$5,400 Required information[The following information applies to the questions displayed below.]The December bank statement and cash T-account for Stewart Company follow:BANK STATEMENTDateChecksDepositsOtherBalanceDecember 1$ 55,200December 6$ 7,68047,520December 11610$ 28,00074,910December 1716,90058,01095,01094,40089,64089,72089,510December 2337,000December 26610December 3023,40019,000NSF*$ 360December 31Interest earned80December 31Service charge210NSF check from J. Left, a customer.Cash (A)DebitCreditDecember 1Balance55,200Checks written duringDepositsDecember:December 1128,0007,68037,00019,00014,000December 23610December 3016,900December 3161021023,4005,400December 31Balance98,390There were no deposits in transit or outstanding checks at November 30.

Bank reconciliation statements (BRS): The corporation keeps a cash book, whereas banks keep a…

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.) O $28,000 I $37,000 I $19,000 O $14,000 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.) O $7,680 O$610 O $16,900 O $210 O$23,400 O $5,400

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.) O $28,000 I $37,000 I $19,000 O $14,000 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.) O $7,680 O$610 O $16,900 O $210 O$23,400 O $5,400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jul 13 The owner, Jen Beck, withdrew $2,000 cash for personal use, Check No. 78. Memorize the transaction for payments every two weeks. Next payment is July 27, 2022. Just tell me in quickbooks where do i record this transaction? bill (enter bills window) credit (enter bills window) bill pmt - check (pay bills window) check (write checks window) invoice (create invoices window) payment (receive payments window) sales receipt (enter sales receipts window) deposit (make deposit window) general journal (make general journal entries window) inventory adjust (adjust quantity/value on hand window) sales tax payment (pay sales tax window) paycheck (pay employees window) liability check (pay payroll liabilities window) transfer (transfer funds between accounts window) credit card charge (enter credit card charges window) credit memo (create credit memos/refunds window) discounts (receive payments window)
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On April 3, Erin Gardner received her bank statement showing a balance of $2,086.93. Her checkbook showed a balance of $1,912.47. Outstanding checks were $234.15, $317.80, $78.10, $132.42, and $212.67. The account earned $20.43. Deposits in transit amount to $814.11, and there is a service charge of $7.00. Use the form below to calculate the reconciled balance. CHECKBOOK BALANCE Add: Interest Earned & Other Credits SUBTOTAL Deduct: Service Charges & Other Debits ADJUSTED CHECKBOOK BALANCE tA ta ta ta tA STATEMENT BALANCE Add: Deposits in Transit SUBTOTAL Deduct: Outstanding Checks LA tA ·SA $ LA ADJUSTED STATEMENT BALANCE $ LA E
prepare a bank reconciliation report.
Lowell Bank reported the following checking account fees: $2 to see a real-live teller, $20 to process a bounced check, and $1 to $3 if you need an original check to prove you paid a bill or made a charitable contribution. This past month you had to transact business through a tellet six times-a total $12 cost to you. Your bank statement shows a $305,33 balance your checkbook shows a $1,009.76 balance. You received $1.10 in interest. An $80115 deposit was not recorded on your statement. The following checks were outstanding: No. 413. $28.30, No. 414, $18.60, and No. 418, $60.72. Prepare your bank reconciliation (Input all amounts as positive values. Round your answers to 2 decimal places) Checkbook balance Add: Interest Subtotal Deduct Teller fee Reconciled balance Y BANK RECONCILIATION $ 1,009 76 Bank balance Add: 1.10 $1,010.86 12.00 $ 998 58 Deposit in transit Subtotal Deduct Outstanding checks (total) Reconciled balance - ** $ 74 $ 305.33 801.15 1,106.48 107,62 998.86
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2. DETAILS rise BRECMBC9 4.11.TB.011. On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. O $29.95 O $943.80 O $1,003.70 $1,108.88
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