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PA5-3 Identifying Outstanding Checks and Deposits in Transit and preparing a Bank Reconciliation and Journal...

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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: Checks Date Dec. 1 BANK STATEMENT Deposits Other 11 17 23 26 30 31 31 $ 7,700 630 $28,000 17,900 37,000 630 24,800 19,000 Balance $ 57,600 49,900 77,270 59,370 96,370 95,740 89,560 89,650 89,420 NSP: Interest earned Service charge $380 90 230 NSF check from J. Left, a customer. Dec. 1 Balance Deposits Dec. 11 23 30 31 Cash (A) 57,600 Checks written during December 28,000 7,700 37,000 630 19.000 17,900 14,000 630 230 24,800 5,700 98,010 Dec. 31 Balance There were no deposits in transit or outstanding checks at November 30, There were no deposits in transit or outstanding checks at November 30. PA5-3 Part 1 and 2 Required: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $37,000 $19,000 $14,000 2. Identify and list the outstanding checks at the end of December. (Select all that apply.) $7,700 $630 $17,900 $630 $230 $24,800 $5,700

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