Based on the information in the worksheet, Calculate:February Deposits in Transit:Date AmountFebruary Outstanding Checks:Check # Amount Bank of the UniverseCustomer: Goldman Sochs CompanyPartial Bank SatementNew York, N.Y.For Month of February 2020Balance -January 31, 2020Add: DepositsLess: Checks paidBalance-February 28, 202020,00026,42311,88434,5391,2751,7202,7503,5001,4801,15911,884Deposits1-Feb5,1482,9351,0876,2503,4684,2903,24526,423Checks7-Feb #2592-Feb11-Feb #2553-Feb21-Feb #26210-Feb22-Feb #26116-Feb28-Feb #26323-Feb28-Feb #25828-FebTotal Checks PaidTotal DepositsCalculate:February Deposits in TransitDateFebruary Outstanding ChecksCheck # AmountAmount Goldman Sochs CompanyJanuary Bank Reconciliation:Deposits in Transit30-JanOutstanding Checks:1,6501,7202,4105,7805,1482,9355-Jan #25231-Jan29-Jan #25530-Jan #257Total8,083TotalFebruary Cash Receipts JournalFebruary Cash Disbursements JournalChecks:Deposits:2-Feb1-Feb #2581,0876,2503,4684,2908,1003,2455,21031,6501,1591,2751,9953,5002,7501,4801,56013,7199-Feb5-Feb #25916-Feb12-Feb #26023-Feb16-Feb #26127-Feb20-Feb #26228-Feb27-Feb #26328-Feb28-Feb #264TotalTotalBank of the UniverseCustomer: Goldman Sochs CompanyNew York, N.Y.Partial Bank SatementFor Month of February 2020Balance -January 31, 2020Add: DepositsLess: Checks paidBalance-February 28, 202020,00026,42311,88434,539Deposits1-FebChecks5,1482,9351,0876,2503,4684,2903,24526,4237-Feb #2591,2751,7202,7503,5001,4801,15911,8842-Feb11-Feb #2553-Feb21-Feb #26210-Feb22-Feb #26128-Feb #26328-Feb #25816-Feb23-Feb28-FebTotal Checks PaidTotal Deposits

Answered: Based on the information in the…

Based on the information in the worksheet, Calculate: February Deposits in Transit: Date Amount February Outstanding Checks: Check # Amount

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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