Benson Plastics Company deposits all receipts and makes all payments by check. The following information is available
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Question:
March 31 Bank Reconciliation
Balance per bank - $26,746
Add: Deposits in transit - $2,100
Deduct: Outstanding checks - $3,800
Balance per books - $25,046
Month of April Results
Per Bank | Per Books | |
---|---|---|
Balance April 30 | $27,995 | $27,335 |
April deposits | 11,784 | 13,889 |
April checks | 11,100 | 10,080 |
April note collected (not included in April deposts) | 3,000 | 0 |
April bank service charge | 35 | 0 |
April NSF check of a customer returned by the bank (recorded by bank as a charge) | 900 | 0 |
Instructions
a. Calculate the amount of the April 30:
1. Deposits in transit
2. Outstanding checks
b. What is the April 30 adjusted cash balance? Show all work
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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