The August bank statement and cash T account for Martha

#2716
The August bank statement and cash T- account for Martha Company follow:No deposits were
in transit and no checks were outstanding at the end of July.Required:1. Identify and list the
deposits in transit at the end of August.2. Identify and list the outstanding checks at the end of
August.3. Prepare a bank reconciliation for August.4. Give any journal entries that the company
should make as a result of the bank reconciliation.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 $ 100 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 August 31
balance sheet?View Solution:
The August bank statement and cash T account for Martha

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