Need immediate help with this accounting question! The December bank statement and cash T-account for Stewart Company followWithdrawal1sOtherBalance$48,00047,50040,50040,38067,830DepositsDateDec.2-Cheque4-ChequeB-Cheque11-Cheque13-Cheque17-Cheque23-cheque26-Cheque28-Cheque30-Cheque,30-NSF*31-Cheque31-Interest earned31-Service, charge7,000120558$28,00053,93089,87088,97886,77088,77088,47086,82086,87886,72036,0002,20017,00019,0001,658150NSF cheque from J Left a customer,+ Cash (A)Cheques written duringDecember:Dec, 1Balance48,000Depositsbec,11236028,00036,00019,00013,0005007,0001205501,90012,0002,20015017,0003,5001,65031Dec.31Balanceక6, 478There were no deposits In translt or outstanding cheques at November 30.Required:1. Identify and list the deposits In transit at the end of December.December 11December 23December 30December 312. Identify and list the outstanding cheques at the end of December.Outstanding.cheques 1Outstanding cheques 2熊

Solution 1: Deposits in transit: December 31 = 13,000

Answered: withdrawals Balance $48,000 47,500…

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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The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance Dec. 1 $ 45,600 6 $ 7,600 38,000 11 530 $ 27,000 64,470 17 12,900 51,570 23 35,000 86,570 26 530 86,040 30 17,800 18,000 NSF* $ 280 85,960 31 Interest earned 60 86,020 31 Service charge 130 85,890 * NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 45,600 Deposits Checks written during December: Dec. 11 27,000 7,600 23 35,000 530 30 18,000 12,900 31 12,000 530 130 17,800 4,500 Dec. 31 Balance 93,610 There were no deposits in transit or outstanding checks at November 30. How would i enter this data in the bank reconcilliation table
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance Dec. 1 $ 45,600 6 $ 7,600 38,000 11 530 $ 27,000 64,470 17 12,900 51,570 23 35,000 86,570 26 530 86,040 30 17,800 18,000 NSF* $ 280 85,960 31 Interest earned 60 86,020 31 Service charge 130 85,890 * NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 45,600 Deposits Checks written during December: Dec. 11 27,000 7,600 23 35,000 530 30 18,000 12,900 31 12,000 530 130 17,800 4,500 Dec. 31 Balance 93,610 There were no deposits in transit or outstanding checks at November 30. How would i make the following journal entries?? -Record the interest of $60 received from the bank. -Record…
16. Ludwig Company showed the following current assets as year-end: Cash 3,200,000 Accounts Receivable 2,500,000 Inventory 2,000.000 Total Current Assets Z000.000 Cash on hand, including customer postdated check P100,000 and 10U P50,000 500,000 Cash in bank per bank statement (outstanding Check at year-end P200,000) 2.000.000 3,200,000 Total cash What total amount should be reported as current assets? a. 7,700,000 b. 7,450,000 c. 7,400,000 d. 7,500,000
Requlred Informetion [The following information applies to the questions displayed below.] 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 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUI
[The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance $ 48,000 40, 380 67,830 53,930 ৪9,938 ৪৪, 978 88,470 88,520 88,370 Dec. 1 $ 7,620 550 $28,000 13,900 11 17 23 36, 800 26 960 NSF Interest earned 30 19, eee $300 5e 19, 200 31 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 48, e00 28,e00 36, e00 19,e09 13, еев Checks written during December: 7,620 550 13,900 960 23 30 31 150 19, 200 4,500 Dec. 31 Balance 97,120 There 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 total amount of Cash and Cash Equivalents should be reported on the…
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 57,600 December 6 $ 7,700 49,900 December 11 630 $ 28,000 77,270 December 17 17,900 59,370 December 23 37,000 96,370 December 26 630 95,740 December 30 24,800 19,000 NSF* $ 380 89,560 December 31 Interest earned 90 89,650 December 31 Service charge 230 89,420 * NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 57,600 Deposits Checks written during December: December 11 28,000 7,700 December 23 37,000 630 December 30 19,000 17,900 December 31 14,000 630 230 24,800 5,700 December 31 Balance 98,010 There were no deposits in transit or outstanding checks at November 30. PA5-3 (Algo) Part 4 Prepare any journal entries that the company should…
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 57,600 December 6 $ 7,700 49,900 December 11 630 $ 28,000 77,270 December 17 17,900 59,370 December 23 37,000 96,370 December 26 630 95,740 December 30 24,800 19,000 NSF* $ 380 89,560 December 31 Interest earned 90 89,650 December 31 Service charge 230 89,420 * NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 57,600 Deposits Checks written during December: December 11 28,000 7,700 December 23 37,000 630 December 30 19,000 17,900 December 31 14,000 630 230 24,800 5,700 December 31 Balance 98,010 There were no deposits in transit or outstanding checks at November 30. PA5-3 (Algo) Part 3 Prepare a bank reconciliation for December.
[The following information applies to the questions displayed below.]The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance Dec. 1 $ 45,600 6 $ 7,600 38,000 11 530 $ 27,000 64,470 17 12,900 51,570 23 35,000 86,570 26 530 86,040 30 17,800 18,000 NSF* $ 280 85,960 31 Interest earned 60 86,020 31 Service charge 130 85,890 * NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 45,600 Deposits Checks written during December: Dec. 11 27,000 7,600 23 35,000 530 30 18,000 12,900 31 12,000 530 130 17,800 4,500 Dec. 31 Balance 93,610 There were no deposits in transit or outstanding checks at November 30. After the reconciliation journal…
bank statement Date Check No. Debits Credits Balance Nov. 1 10,000.00 Nov. 4 339 34,000.00 44,000.00 Nov. 9 134 17,000.00 27,000.00 Nov. 12 135 13,000.00 14,000.00| Nov. 13 Cash 16,000.00 30,000.00 Nov. 16 136 8,000.00 22,000.00| Nov. 21 234 52,000.00 74,000.00 Nov. 22 784 19,000.00 93,000.00 Nov. 29 137 7,600.00 85,400.00| Nov. 30 846 23,500.00 108,900.00 144,500.00 45,600.00 roup Activities Bank statement Period covered: Nov. 1, 2021 to Nov. 30, 2021 Date Check No. Debits Credits Balance Nov. 1 10,000.00 Nov. 5 339 34,000.00 44,000.00 Nov. 6 389 78,000.00 122,000.00 Nov. 13 Cash 16,000.00 138,000.00 Nov. 16 135 13,000.00 125,000.00 Nov. 18 984 33,000.00 158,000.00 Nov. 19 136 8,000.00 150,000.00 Nov. 21 234 25,000.00 175,000.00 Nov. 22 784 19,000.00 194,000.00| Nov. 25 0784 (NSF) 19,000.00 175,000.00 Nov. 28 (DM) 2,000.00 173,000.00 Nov. 30 137 7,600.00 165,400.00 Required: Prepare the November bank reconciliation. Assume the error is committed by XYZ Co.
What is the adjusted cash in bank on December 31? 8,200,000 9,050,000 8,970,000 9,150,000 What is the cash in bank per ledger on December 31? 8,990,000 8,270,000 8,560,000 8,660,000 for fc479f51-46ab-41af-b134-12bc9f4c0777.png How much from the list above should be presented as part of noncurrent assets 4,000,000 1,000,000 4,900,000 5,500,000
Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 36,000 December 6 $ 7,520 28,480 55,030 December 11 450 $ 27,000 December 17 8,900 46,130 December 23 34,000 80,130 December 26 450 79,680 December 30 12,200 18,000 NSF* $ 200 85,280 December 31 Interest earned 20 85,300 December 31 Service charge 50 85,250 NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 36,000 Checks written during Deposits December: December 11 27,000 7,520 December 23 34,000 450 December 30 18,000 8,900 December 31 11,000 450 50 12,200 5,700 December 31 Balance 90,730 There were no deposits in transit or outstanding checks at November 30.
Balance of cash in bank account 1,300,000Balance of bank statement 1,200,000Outstanding checks, August 31:Number 555 10,000761 55,000762 40,000763 25,000764 65,000765 70,000Receipts of August 31, deposited September 1 275,000The bank statement showed the following charges:a. Service charge for August 5,000b. NSF check received from a customer 85,000The cashier-bookkeeper had misappropriated 30,000 and an additional 10,000 by charging sales discounts and crediting accounts receivable.The stub for check number 765 and the invoice relating thereto show that it was for 50,000. The check was recorded incorrectly in the cash disbursements journal as 70,000. The check was drawn in payment of an account payable.Payment has been stopped on check number 555 which was drawn in payment of an account payable. The payee cannot be located.Required:a. Prepare a bank reconciliation on August 31 using the adjusted balance method.b. Prepare adjusting entries in the Susan Company book on August 31

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