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  • The August 2014 Bank Statement For Martha Company and The PDF

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    The document discusses Martha Company's August 2014 bank statement and ledger accounts for cash. It includes details of outstanding cheques at the end of July, deposits in transit at the end of July, and asks questions about computing deposits and cheques in transit at August 31, preparing a bank reconciliation at August 31, any necessary journal entries, cash account balances after entries are posted, and the amount of cash to report on the statement of financial position at August 31.

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    The document discusses Martha Company's August 2014 bank statement and ledger accounts for cash. It includes details of outstanding cheques at the end of July, deposits in transit at the end of July, and asks questions about computing deposits and cheques in transit at August 31, preparing a bank reconciliation at August 31, any necessary journal entries, cash account balances after entries are posted, and the amount of cash to report on the statement of financial position at August 31.

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    12 views1 page

    The August 2014 Bank Statement For Martha Company and The PDF

    Uploaded by

    Let's Talk With Hassan
    The document discusses Martha Company's August 2014 bank statement and ledger accounts for cash. It includes details of outstanding cheques at the end of July, deposits in transit at the end of July, and asks questions about computing deposits and cheques in transit at August 31, preparing a bank reconciliation at August 31, any necessary journal entries, cash account balances after entries are posted, and the amount of cash to report on the statement of financial position at August 31.

    Copyright:

    © All Rights Reserved
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    The August 2014 bank statement for Martha Company and

    the #977
    The August 2014 bank statement for Martha Company and the August 2014 ledger accounts for
    cash follow:Outstanding cheques at the end of July were for $ 250, $ 400, and $ 300. No
    deposits were in transit at the end of July. Required:1. Compute the amount of deposits in
    transit at August 31, 2014. 2. Compute the amount of outstanding cheques at August 31, 2014.
    3. Prepare a bank reconciliation at August 31, 2014. 4. Prepare any journal entries that the
    company should make as a result of the bank reconciliation. Why are they necessary? 5. After
    the reconciliation journal entries are posted, what balances would be reflected in the cash
    accounts in the ledger? 6. What total amount of cash should be reported on the August 31,
    2014, statement of financial position?View Solution:
    The August 2014 bank statement for Martha Company and the

    ANSWER
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