(TCO F) David deposits all receipts and makes all payments by check The followin
ID: 2597943 • Letter: #
Question
(TCO F) David deposits all receipts and makes all payments by check The following intormation is available from the cash records MARCH 31 BANK RECONCILIATION Balance per bank $26,746 2,100 Add Deposits in transt Deduct. Outstanding (3,800) checks Balance per books Month of April ResultsPer Bank Balance April 30 April deposits April checks April note collected (not included in Apni $25,046 $27,995 8,864 12,200 3,000 Per Book $24,355 14,889 16,080 deposits) April bank service charge April NSF check of a 0- 35 900 customer returned by the bank (recorded by bank as a . charge) Instructions Calculate the amount of the April 30 (1) deposits in transit, and (2) outstanding checks Show all your work for potential partial credit HTML EdinExplanation / Answer
Answer 1. Deposit in Transit - April 30 April deposit - Per Books 14,889.00 Less: April Deposits - Per Bank (8,864.00) Balance 6,025.00 Add: Deposits in transit - Mar-31 2,100.00 Deposit in Transit - Apr-30 8,125.00 Answer 2. Outstanding Checks - April-30 April Checks - Per Books 16,080.00 Less: April Checks - Per Bank 12,200.00 Balance 3,880.00 Add: Checks Outstanding - Mar 3,800.00 Checks in Transit - Apr-30 7,680.00
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