Calculate the amount of the April 30:1. Deposits in transit $ 2. Outstanding checks $ ## Sheridan Plastics Company Cash Records### March 31 Bank Reconciliation- **Balance per bank:** $60,420- **Add: Deposits in transit:** $4,788- **Deduct: Outstanding checks:** $(8,664)- **Balance per books:** $56,544---### Month of April Results#### Balance Comparison- **Balance April 30:** - **Per Bank:** $63,840 - **Per Books:** $62,700#### April Transactions- **April deposits:** - **Per Bank:** $27,360 - **Per Books:** $31,920- **April checks:** - **Per Bank:** $25,308 - **Per Books:** $22,800- **April note collected (not included in April deposits):** - **Per Bank:** $6,840 - **Per Books:** $-0-- **April bank service charge:** - **Per Bank:** $73 - **Per Books:** $-0-- **April NSF check of a customer returned by the bank (recorded by the bank as a charge):** - **Per Bank:** $2,435 - **Per Books:** $-0-

Deposit in transit means checks deposited by the company in bank but has not been deposited in the…

Answered: Calculate the amount of the April 30:…

Business

Accounting

Calculate the amount of the April 30: 1. Deposits in transit $ 2. Outstanding checks $

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Calculate the amount of the April 30:

1.		Deposits in transit		$
2.		Outstanding checks		$

## Sheridan Plastics Company Cash Records

### March 31 Bank Reconciliation

- **Balance per bank:** $60,420
- **Add: Deposits in transit:** $4,788
- **Deduct: Outstanding checks:** $(8,664)
- **Balance per books:** $56,544

---

### Month of April Results

#### Balance Comparison
- **Balance April 30:**
- **Per Bank:** $63,840
- **Per Books:** $62,700

#### April Transactions
- **April deposits:**
- **Per Bank:** $27,360
- **Per Books:** $31,920

- **April checks:**
- **Per Bank:** $25,308
- **Per Books:** $22,800

- **April note collected (not included in April deposits):**
- **Per Bank:** $6,840
- **Per Books:** $-0-

- **April bank service charge:**
- **Per Bank:** $73
- **Per Books:** $-0-

- **April NSF check of a customer returned by the bank (recorded by the bank as a charge):**
- **Per Bank:** $2,435
- **Per Books:** $-0-

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