The December bank statement and cash T-account for Stewart Company follow:BANK STATEMENTDateChecks DepositsOtherBalance$ 48, 00040, 38067,83053,930৪9,93888,97088,47088,52088,370Dec. 1$ 7,620550 $28,00013,9006.11172336, e00269603019, 20019,000NSF*$30031Interest earned5031Service charge150NSF check from J. Left, a customer.Cash (A)Dec. 1 BalanceDepositsDec. 112348, 00028, e0e36, eeeChecks written during December:7,6205503013,90096019, e003113,e0015019, 2004,500Dec. 31 Balance97,120There were no deposits in transit or outstanding checks at November 30.3. Prepare a bank reconciliation for December.STEWART COMPANYBank ReconciliationAt December 31Bank StatementCompany's BooksEnding Balance Per Bank StatementEnding Balance Per Cash AccountAdditions:Additions:Deductions:Deductions:Up-to-Date Cash BalanceUp-to-Date Cash Balance

A bank reconciliation must be completed at least on a monthly basis to ensure that there are…

The December bank statement and cash T-account for Stewart Company follow. BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 89,930 88,970 88,470 88,520 88, 370 Date Other Dec. 1 $ 7,620 55e $28, 000 13,90e 11 17 23 36, eee 26 960 30 19, 200 19, 000 NSF $300 Interest earned Service charge 31 se 31 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, eee Deposits 28, 0ee 36, eee 19,000 13,000 Checks written during December: 7,620 5se 13,900 960 Dec. 11 23 30 31 15e 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Bank Statement Company's Books Ending Balance Per Bank Statement Ending Balance Per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance

The December bank statement and cash T-account for Stewart Company follow. BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 89,930 88,970 88,470 88,520 88, 370 Date Other Dec. 1 $ 7,620 55e $28, 000 13,90e 11 17 23 36, eee 26 960 30 19, 200 19, 000 NSF $300 Interest earned Service charge 31 se 31 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, eee Deposits 28, 0ee 36, eee 19,000 13,000 Checks written during December: 7,620 5se 13,900 960 Dec. 11 23 30 31 15e 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Bank Statement Company's Books Ending Balance Per Bank Statement Ending Balance Per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance

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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Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,320 Deposits during June $ 18,600 25,920 Checks cleared during June $ 19,700 6,220 Bank service charges $ 31 6,189 Balance, June 30 6,189 Cash (A) Debit Credit June 1 Balance 7,320 June Deposits 20,200 20,000 Checks written June June 30 Balance 7,520 E5-5 (Algo) Part 1 Required:1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June.
Required information Skip to question [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 August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…
The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 20 Ceria 265 31 Baiti 325 31 Balance c/d 1,682 2,502 Dec 1 Balance b/d 1,900 10 Luna 304 19 Wilson 261 29 Cikmah 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox:Standing Order 94 2,064 31 Rina:Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020