The August bank statement and cash T-account for Martha Company follow: Date August 1 August 2 August 3 August 4 August 5 August 9 August 10 August 15 August 21 August 24 August 25 August 30 August 30 August 31 August 1 Balance Deposits August 2 August 12 August 24 August 31 August 31 Balance Checks $ 440 540 390 1, 170 450 540 25, 600 910 Debit CP5-3 (Algo) Part 5 and 6 BANK STATEMENT Deposits $ 14, 100 4, 700 5. Balance in Cash Accounts 6. Total Amount of Cash and Cash Equivalents 8, 050 Interest earned. Service charge Cash (A) 20, 480 14, 100 4,700 8, 050 5, 700 Other 21, 800 Checks written 440 540 390 450 1, 170 430 760 910 540 25, 600 $30 10 Balance. Credit No deposits were in transit and no checks were outstanding at the end of July. $ 20, 480 20, 040 34, 140 33, 600 33, 210 32, 040 31, 590 36, 290 35, 750 10, 150 18, 200 August 1 August 2 August 3 17, 290 17, 320 17, 310 August 4 August 5 August 15 August 17 August 18 August 19. August 23 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 $170 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?
The August bank statement and cash T-account for Martha Company follow: Date August 1 August 2 August 3 August 4 August 5 August 9 August 10 August 15 August 21 August 24 August 25 August 30 August 30 August 31 August 1 Balance Deposits August 2 August 12 August 24 August 31 August 31 Balance Checks $ 440 540 390 1, 170 450 540 25, 600 910 Debit CP5-3 (Algo) Part 5 and 6 BANK STATEMENT Deposits $ 14, 100 4, 700 5. Balance in Cash Accounts 6. Total Amount of Cash and Cash Equivalents 8, 050 Interest earned. Service charge Cash (A) 20, 480 14, 100 4,700 8, 050 5, 700 Other 21, 800 Checks written 440 540 390 450 1, 170 430 760 910 540 25, 600 $30 10 Balance. Credit No deposits were in transit and no checks were outstanding at the end of July. $ 20, 480 20, 040 34, 140 33, 600 33, 210 32, 040 31, 590 36, 290 35, 750 10, 150 18, 200 August 1 August 2 August 3 17, 290 17, 320 17, 310 August 4 August 5 August 15 August 17 August 18 August 19. August 23 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 $170 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Reconciliation and Journal Entries [LO 5-4, LO 5-5]
[The following information applies to the questions displayed below.]
The August bank statement and cash T-account for Martha Company follow:
Date
August 1
August 2
August 3
August 4
August 5
August 9
August 10
August 15
August 21
August 24
August 25
August 30
August 30
August 31
August 1 Balance
Deposits
August 2
August 12
August 24
August 31
August 31 Balance
Checks
$440
540
390
1, 170
450
540
25, 600
910
Debit
CP5-3 (Algo) Part 5 and 6
BANK STATEMENT
Deposits
$14, 100.
4,700
5. Balance in Cash Accounts
6. Total Amount of Cash and Cash Equivalents
8, 050
Interest earned
Service charge
Cash (A)
20, 480
14, 100
4,700
8, 050
5, 700
Other
21, 800
Checks written
440
540
390
450
1, 170
430
760
910
540
25, 600
$ 30
10
Balance
Credit
No deposits were in transit and no checks were outstanding at the end of July.
$ 20, 480
20, 040
34, 140
33, 600
33, 210
32, 040
31, 590
36, 290
35, 750
10, 150
18, 200
17, 290
17, 320
17, 310
August 1
August 2
August 3
August 4
August 5
August 15
August 17
August 18
August 19
August 23
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 $170 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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1bc1a8ad-8e23-4cba-93cb-9ef3ca0e13a9%2Fdb8be86c-1709-4043-a4fb-57ea09177ad4%2Fjvrwbfq_processed.png&w=3840&q=75)
Transcribed Image Text:Reconciliation and Journal Entries [LO 5-4, LO 5-5]
[The following information applies to the questions displayed below.]
The August bank statement and cash T-account for Martha Company follow:
Date
August 1
August 2
August 3
August 4
August 5
August 9
August 10
August 15
August 21
August 24
August 25
August 30
August 30
August 31
August 1 Balance
Deposits
August 2
August 12
August 24
August 31
August 31 Balance
Checks
$440
540
390
1, 170
450
540
25, 600
910
Debit
CP5-3 (Algo) Part 5 and 6
BANK STATEMENT
Deposits
$14, 100.
4,700
5. Balance in Cash Accounts
6. Total Amount of Cash and Cash Equivalents
8, 050
Interest earned
Service charge
Cash (A)
20, 480
14, 100
4,700
8, 050
5, 700
Other
21, 800
Checks written
440
540
390
450
1, 170
430
760
910
540
25, 600
$ 30
10
Balance
Credit
No deposits were in transit and no checks were outstanding at the end of July.
$ 20, 480
20, 040
34, 140
33, 600
33, 210
32, 040
31, 590
36, 290
35, 750
10, 150
18, 200
17, 290
17, 320
17, 310
August 1
August 2
August 3
August 4
August 5
August 15
August 17
August 18
August 19
August 23
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 $170 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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