ABC Company deposits all of its cash receipts and makes all payments by using check. The...
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"ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 BANK RECONCILIATION Balance per bank $133,730 $10,500 Deposits in transit Outstanding checks $19,000 The month of April Results • Balance April 30 Per Bank Per Books $139,975 $144,275 . April deposits $53,920 $69,445 April checks $58,000 $50,400 . April note collected (not included in April deposits) $15,000 50 .. April bank service charge $175 . April NSF check of a customer returned by the bank $4,500 Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance? . 50 50 "ABC" Company deposits all of its cash receipts and makes all payments by using check. The following information is available from the company's cash records: MARCH 31 BANK RECONCILIATION Balance per bank $133,730 $10,500 Deposits in transit Outstanding checks $19,000 The month of April Results • Balance April 30 Per Bank Per Books $139,975 $144,275 . April deposits $53,920 $69,445 April checks $58,000 $50,400 . April note collected (not included in April deposits) $15,000 50 .. April bank service charge $175 . April NSF check of a customer returned by the bank $4,500 Based on the above-given information, answer the following questions: • What is the value of the deposit in transit that must be presented on April's Bank reconciliation? • What is the value of the outstanding checks that must be presented on April's Bank reconciliation? • What is the April 30 adjusted cash balance? . 50 50
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