Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $35,160 Add: Deposits in transit 4,200 Deduct: Outstanding cheques (3,200) Balance per books $36,160 The month of April Results Per Bank Per Books Balance April 30 $38,000 $42,140 April deposits recorded 11,200 17,300 April cheques recorded 12,010 11,320 Items on bank statement but not in books: Note collected by bank 5,500 -0- Bank service charge 50 -0- Customer's NSF cheque returned by the bank 1,800 -0- Required Calculate the amount of the April 30: Deposits in transit Outstanding cheques What is the April 30 adjusted cash balance? Show all work.
Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $35,160 Add: Deposits in transit 4,200 Deduct: Outstanding cheques (3,200) Balance per books $36,160 The month of April Results Per Bank Per Books Balance April 30 $38,000 $42,140 April deposits recorded 11,200 17,300 April cheques recorded 12,010 11,320 Items on bank statement but not in books: Note collected by bank 5,500 -0- Bank service charge 50 -0- Customer's NSF cheque returned by the bank 1,800 -0- Required Calculate the amount of the April 30: Deposits in transit Outstanding cheques What is the April 30 adjusted cash balance? Show all work.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
Related questions
Question
Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information is available from the cash records:
MARCH 31 BANK RECONCILIATION
|
Balance per bank |
$35,160 |
|
Add: Deposits in transit |
4,200 |
|
Deduct: Outstanding cheques |
(3,200) |
|
Balance per books |
$36,160 |
The month of April Results
|
|
Per Bank |
Per Books |
|
Balance April 30 |
$38,000 |
$42,140 |
|
April deposits recorded |
11,200 |
17,300 |
|
April cheques recorded |
12,010 |
11,320 |
|
Items on bank statement but not in books: |
|
|
|
Note collected by bank |
5,500 |
-0- |
|
Bank service charge |
50 |
-0- |
|
Customer's NSF cheque returned by the bank |
1,800 |
-0- |
Required
- Calculate the amount of the April 30:
- Deposits in transit
- Outstanding cheques
- What is the April 30 adjusted cash balance? Show all work.
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