"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?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.4.3P
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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?
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