[The following information applies to the questions displayed below.]The December bank statement and cash T-account for Stewart Company follow:BANK STATEMENTDateChecks DepositsOtherBalance$ 48,00040, 38067,83053,930৪9,938৪৪, 97888,47088,52088,370Dec. 1$ 7,620550 $28,00013,90011172336, 80026960NSFInterest earned3019, eee$3005e19, 2003131Service charge150NSF check from J. Left, a customer.Cash (A)Dec. 1 BalanceDepositsDec. 1148, e0028,e0036, e0019,e0913, еевChecks written during December:7,62055013,90096023303115019, 2004,500Dec. 31 Balance97,120There were no deposits in transit or outstanding checks at November 30.5. 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 $300 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what totalamount of Cash and Cash Equivalents should be reported on the December 31 balance sheet?5. Balance in Cash Account6. Total Amount of Cash and Cash Equivalents

Cash : Cash is a legal tender that are used as an exchange for goods , debt or service. Sometimes…

[The following information applies to the questions displayed below.) The December bank statement and cash T-account for Stewart Company follow. BANK STATEMENT Other Checks Deposits Balance $ 48,000 48, 38e 67,830 53,930 89,930 88,970 88,470 88,520 88, 370 Date Dec. 1 $ 7,620 5se $28, e0e 13,900 6 11 17 23 36, e00 26 960 30 19, 200 19,e00 NSF $300 31 Interest earned se 31 Service charge 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 23 48,000 Checks written during December: 7,620 55e 28,000 36, e0e 19,000 13, eee 30 13,900 960 31 15e 19, 200 4,5ee Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. . After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? If the company also has $300 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 December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents

[The following information applies to the questions displayed below.) The December bank statement and cash T-account for Stewart Company follow. BANK STATEMENT Other Checks Deposits Balance $ 48,000 48, 38e 67,830 53,930 89,930 88,970 88,470 88,520 88, 370 Date Dec. 1 $ 7,620 5se $28, e0e 13,900 6 11 17 23 36, e00 26 960 30 19, 200 19,e00 NSF $300 31 Interest earned se 31 Service charge 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 23 48,000 Checks written during December: 7,620 55e 28,000 36, e0e 19,000 13, eee 30 13,900 960 31 15e 19, 200 4,5ee Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. . After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? If the company also has $300 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 December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents

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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