Chapter 4 Homework Submit your answers in CANVAS before it is due Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Use the following to answer questions 1-4 Cash or Cash Equivalent? (Yesor No)_ 1 Inventory for sale to a customer 2 90 day Certificates of Deposit 3 Postage stamps 4 Checks Use the following to answer questions S-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or the company balance 1. Added to bank statement balance 2. Subtracted from bank statement balance 4. Subtracted from company cash balance Company error, wrote check for $690 but recorded it as $960 5 Checks outstanding 7 Bank error, cleared the same deposit twice 8 NSF check Use the following to answer questions 9-11 On August 31st, the general ledger of TAR shows a balance for cash of $40,000. Cash receipts yet to be deposited into the checking account total $12,500, while checks written by TAR but not yet processed by the bank total $31,A50. The not reflect a NSF check of $450, a service fee of $20 and interest earned on the checking account of $i and a note collected by the bank of $1,100; however, these amounts are included in the balance of cash of $59,581 reported by the bank as of the end of August. Answer the following based on the process of doing the bank reconciliation: 9. s 10.S asDetermine the total amount that is used to reconcile the Bank balance (include"- "if needed: Determine the total amount that is used to reconcile the Company cash balance (include" " if needed) What is the balance in the company's cash account after the reconciliation? compan's Cash Accoun aax s+atement balance ACL efore reconcliaton NSF Cnuck reconciliation 40,00 ng s outstandinc 1,45 0 ceconcitotion a1oso Aftr retoncilian Chapter 4 Spring 2018 Page 4-8