The following information has been extracted from the cash records of Wheeler Ltd and shows four independent situations. Assume there were no direct bank debits or credits on the bank statement and that all outstanding deposits and unpresented cheques in one month appeared on the bank statement in the following month. 1. The total of outstanding deposits on the 30 April bank reconciliation statement was $1875. During May, the company made deposits of $40 200 to its bank account but the bank statement showed that only $39 840 was deposited during the month. 2. The total of unpresented cheques on the 30 April bank reconciliation statement was $1440. During May, the total of cheques issued was $29 175 but the bank statement showed that only $27 720 in cheques were presented during the month. 3. During July, deposits recorded on the bank statement totalled $46 200, but deposits according to the company's records were $43 950 and outstanding deposits at 31 July were $4125.

The following information has been extracted from the cash records of Wheeler Ltd and shows four independent situations. Assume there were no direct bank debits or credits on the bank statement and that all outstanding deposits and unpresented cheques in one month appeared on the bank statement in the following month. 1. The total of outstanding deposits on the 30 April bank reconciliation statement was $1875. During May, the company made deposits of $40 200 to its bank account but the bank statement showed that only $39 840 was deposited during the month. 2. The total of unpresented cheques on the 30 April bank reconciliation statement was $1440. During May, the total of cheques issued was $29 175 but the bank statement showed that only $27 720 in cheques were presented during the month. 3. During July, deposits recorded on the bank statement totalled $46 200, but deposits according to the company's records were $43 950 and outstanding deposits at 31 July were $4125.

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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