Homework Help is Here – Start Your Trial Now!
Business
Accounting
"ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance?

"ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5PB
See similar textbooks
icon
Related questions
Question
"ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance?
Transcribed Image Text:"ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS