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:…

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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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Hills Company's June 30 bank statement and the June ledger account for cash BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 June June 30 Debit Balance Deposits Balance E5-5 (Static) Part 1 $ 19,100 Cash (A) 6,800 19,000 6,400 Deposits $ 18,000 Credit 19,400 Checks written Other $ 30 June Balance $ 7,200 25,200 6,100 6,070 6,070 Required: 1. Prepare a bank reconciliation A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $700. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June
Q.17. The check register for Bellam Furniture showed a balance of $3,511.91. Checks were written for $2,593.02 and $72.80. A deposit was made for $6,982.22. Compute the new balance shown in the check register.
Based on the information in the worksheet, Calculate: February Deposits in Transit: Date Amount February Outstanding Checks: Check # Amount
Use the following information to complete the check stub. Amount Total from Date To For Deposits Other of this Check previous Stub $136; $100 cash Mar. 8, 2014 Plumber Septic $1848.57 $6097.43 $1457.12 withdrawal Amount $ To Plumber For Septic Total Deposits This Check Other (+ or -) Balance $
i.2
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
Madison Company's cash ledger reports the following for the month ending March 31. Date Amount No. Date Amount Deposits: 3/4 $ 1,400 Checks: 541 3/2 $ 5,700 3/11 1,700 542 3/8 700 3/18 3,700 543 3/12 3,000 3/25 3,500 544 3/19 1,500 Cash receipts: 3/26-3/31 2,100 545 3/27 700 $ 12,400 546 3/28 800 547 3/30 1,200 Balance on March 1 $ 6,100 $ 13,600 Receipts 12,400 Disbursements (13,600 ) Balance on March 31 $ 4,900 Information from March's bank statement and company records reveal the following additional information: The ending cash balance recorded in the bank statement is $6,970. Cash receipts of $2,100 from 3/26–3/31 are outstanding. Checks 545 and 547 are outstanding. The deposit on 3/11 included a customer's check for $410 that did not clear the bank (NSF check). Check 543 was written…
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Cash (A) Debit June 1 Checks $ 19,900 Deposits Other $ 18,800 Credit Balance 7,360 June Deposits 20,600 20,200 Checks written June June 30 Balance 7,760 $31 Balance $ 7,360 26,160 6,260 6,229 6,229 1. In addition to the balance in its bank account, Hills Company also has $420 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30?
2. DETAILS rise BRECMBC9 4.11.TB.011. On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. O $29.95 O $943.80 O $1,003.70 $1,108.88
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