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PA$5-3($Algo$)$ Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries $[$LO $5-4,$ LO $5-5]$

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$[$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 $1$ $ $58,800$

December $6$ $ $7,71051,090$

December $11640$ $ $28,00078,450$

December $1718,40060,050$

December $2337,00097,050$

December $2664096,410$

December $3025,50019,000$ NSF$*$ $ $39089,520$

December $31$ Interest earned $9589,615$

December $31$ Service charge $24089,375$

$*$ NSF check from J$.$ Left, a customer.

Cash $($A$)$

Debit Credit

December $1$ Balance $58,800$

Deposits Checks written during December:

December $1128,0007,710$

December $2337,000640$

December $3019,00018,400$

December $3114,000640$

$240$

$25,500$

$5,850$

December $31$ Balance $97,820$

There were no deposits in transit or outstanding checks at November $30.$

PA$5-3($Algo$)$ Part $1$ and $2$

Required:

Identify and list the deposits in transit at the end of December. $($You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.$)$

check all that apply $1$

$$28,000$

$$37,000$unanswered

$$19,000$unanswered

$$14,000$unanswered

Identify and list the outstanding checks at the end of December. $($You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.$)$

check all that apply $2$

$$7,710$unanswered

$$640$unanswered

$$18,400$unanswered

$$240$unanswered

$$25,500$unanswered

$$5,850$Required:

Identify and list the deposits in transit at the end of December. $($You may select more than one answer. Single click the box with

the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the

box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.$)$

$$28,000$

$?$ $$37,000$

$?$ $$19,000$

$?$ $$14,000$

Identify and list the outstanding checks at the end of December. $($You may select more than one answer. Single click the box with

the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the

box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.$)$

$?$ $$7,710$

$?$ $$640$

$(?)$ $$18,400$

$?$ $$25,500$

$?$ $$5,850$

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