? O ? | ? ezto.mheducation.com/hm.tpx IThe following information applies to the

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? O ? | ? ezto.mheducation.com/hm.tpx IThe following information applies to the questions displayed below The August bank statement and cash T-account for Martha Company follow BANK STATEMENT DateChecks Deposits Aug. 1 Balance $ 17.470 Other 2 S 300 17,170 $12,000 4 400 5 250 9 890 10 310 15 21 400 24 21,000 25 30 800 30 31 29,170 28.770 28,520 27.630 27,320 31,320 30,920 9,920 16.920 16,120 4,000 7,000 Interest earned$2016,140 Service charge 10 16.130 Cash (A) Aug. 1 Balance 17,470 Deposits Checks written 12,000 4.000 7,000 5,000 300 400 250 310 890 290 550 800 Aug. 2 Aug. 1 12 24 31 15 17 21000 O Type here to search

Explanation / Answer

Req 1: Deposit in Transit: $ 5000 Req 2: Outstanding checks: $290 $550 Req 3: Reconciliation Statement Balance as per Bank statement 16130 Balance as per Books 20280 Add: Deposit in transit 5000 Add: Interest earned 20 21130 20300 Less: Oustanding checks 840 Less: Service charges 10 20290 20290 Req 4: Journal entries: Cash account Dr. 20      Interest revenue 20 Misc expense Account Dr. 10      Cash account 10 Req 5: Cash and Cash equivalents: Petty cash balance 100 Cash balance 20290 cash and cash equivalent 20390

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