Concord Plastics Company deposits all receipts and makes all payments by check. The following information is available
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- Concord Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records:
MARCH 31 BANK RECONCILIATION | ||
Balance per bank | $59,360 | |
Add: Deposits in transit | $4,704 | |
Deduct: Outstanding checks | ($8512)
| |
Balance per books | 55, 552
| |
Month of April Results | ||
Per Bank | Per Books | |
Balance April 30 | $62,720 | $61600 |
April deposits | $26,880 | $31360 |
April checks | $24,864 | $22,400 |
April note collected (not included in April deposits) | $6,720 | -0- |
April bank service charge | $69 | -0- |
April NSF check of a customer returned by the bank (recorded by bank as a charge) | $2,395 | -0- |
Calculate the amount of April 30:
Deposits in transit $
Outstanding checks $
Calculate the April 30 adjusted cash balance (show all work).
Adjusted cash balance $
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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