just want answer for D only 11.18 Outstanding deposits and unpresented cheques *LO3The 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 andunpresented 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 companymade deposits of $40 200 to its bank account but the bank statement showed that only $39 840 was deposited during themonth.2. The total of unpresented cheques on the 30 April bank reconciliation statement was $1440. During May, the total ofcheques issued was $29 175 but the bank statement showed that only $27 720 in cheques were presented during themonth.3. During July, deposits recorded on the bank statement totalled $46 200, but deposits according to the company's recordswere $43 950 and outstanding deposits at 31 July were $4125.4. In July, cash payments according to Wheeler Ltd's records were $40 800, cheques presented and shown on the bankstatement were $43 000 and unpresented cheques at 31 July were $3960.Requireda. In situation 1, what were the outstanding deposits at 31 May?b. In situation 2, what were the unpresented cheques at 31 May?c. In situation 3, what were the outstanding deposits at 30 June?d. In situation 4, what were the unpresented cheques at 30 June?

solution : calculation of unpresented cheques at 30 june particular amount cheques presented…

were $43 950 and outstanding deposits at 31 July were $4125. 4. In July, cash payments according to Wheeler Ltd's records were $40 800, cheques presented and shown on the bank statement were $43 000 and unpresented cheques at 31 July were $3960. Required a. In situation 1, what were the outstanding deposits at 31 May? b. In situation 2, what were the unpresented cheques at 31 May? c. In situation 3, what were the outstanding deposits at 30 June? d. In situation 4. what were the unpresented cheques at 30 June? In

were $43 950 and outstanding deposits at 31 July were $4125. 4. In July, cash payments according to Wheeler Ltd's records were $40 800, cheques presented and shown on the bank statement were $43 000 and unpresented cheques at 31 July were $3960. Required a. In situation 1, what were the outstanding deposits at 31 May? b. In situation 2, what were the unpresented cheques at 31 May? c. In situation 3, what were the outstanding deposits at 30 June? d. In situation 4. what were the unpresented cheques at 30 June? In

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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