Chapter4 .pdf - 1 Assignment Print View Award 1 out of 1.00 point Below are several amounts reported at the end of the year Currency located at the

Chapter4 .pdf - 1 Assignment Print View Award 1 out of 1.00...

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9/15/2019 Assignment Print View ; 2/3 1. Award: 1 out of 1.00 point Below are several amounts reported at the end of the year. Currency located at the company $ 825 Supplies 2,300 Short-term investments that mature within three months 1,725 Accounts receivable 2,600 Balance in savings account 7,600 Checks received from customers but not yet deposited 425 Prepaid rent 1,225 Coins located at the company 110 Equipment 8,500 Balance in checking account 5,300 Required: Calculate the amount of cash to report in the balance sheet. Currency located at the company $ 825 Short-term investments that mature within three months 1,725 Coins located at the company 110 Checks received from customers but not yet deposited 425 Balance in checking account 5,300 Balance in savings account 7,600 Total cash $ 15,985 Hint #1 References Worksheet Difficulty: 1 Easy Learning Objective: 04-03 Define cash and cash equivalents. Hints
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9/15/2019 Assignment Print View ; 3/3 Below are several amounts reported at the end of the year. Currency located at the company $ 825 Supplies 2,300 Short-term investments that mature within three months 1,725 Accounts receivable 2,600 Balance in savings account 7,600 Checks received from customers but not yet deposited 425 Prepaid rent 1,225 Coins located at the company 110 Equipment 8,500 Balance in checking account 5,300 Required: Calculate the amount of cash to report in the balance sheet. $ Currency located at the company 825 Short-term investments that mature within three months 1,725 Balance in savings account 7,600 Checks received from customers but not yet deposited 425 Coins located at the company 110 Balance in checking account 5,300 Total cash $ 15,985 F Explanation: No further explanation details are available for this problem.
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9/15/2019 Assignment Print View ; 2/3 2. Award: 1 out of 1.00 point Spielberg Company's general ledger shows a checking account balance of $22,930 on July 31, 2021. The July cash receipts of $1,845, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $51. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,420. The bank statement shows a balance of $22,454 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) SPIELBERG COMPANY Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per Bank Statement $ 22,454 Per General Ledger $ 22,930 Deposits Outstanding 1,845 Checks Outstanding (1,420) Service Fees (51) Bank Balance per Reconciliation $ 22,879 Company Balance per Reconciliation $ 22,879 2. Record the necessary entry(ies) to adjust the balance for cash.
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