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1. Identify and list the deposits in transit at the end of December. (Select all that apply.) 2. Identify and list the outstanding checks at the end of December. (Select all that apply.) 3. Prepare a bank reconciliation for December. 4. Prepare any journal entries that the company should make as a result of the bank reconciliation.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 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 $230 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?

PA5-3 Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries [LO 5-4, LO 5-5] [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 Dec. 1 Other Balance 539,600 39,170 33,230 33,140 59,660 2 $ 430 4 5.940 90 480 $27,000 58,080 13 1580 17 8,500 49,580 23 25 34,000 83,555 26 28 1500 30 12,100 18,000 NSF 31 1090 31 830 82,725 81,225 5230 86,895 35 85,840 80 85,760 Interest earned Service charge NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 39,600 Checks written during December: Dec. 11 23 30 31 27000 34,000 18,000 11,000 430 5,940 90 480 1,580 8,500 1,500 25 830 80 12,100 5,250 Dec. 31 Balance 91.705 There were no deposits in transit or outstanding checks at November 30

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