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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 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank 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?

"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 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank 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?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
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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 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank 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?
Transcribed Image Text:"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 age Balance per bank Deposits in transit Outstanding checks •Balance April 30 • April deposits BANK RECONCILIATION $187,222 $14,700 $26,600 The month of April Results Per Bank Per Books $195,965 $201,985 $75,488 $97,223 $81,200 $70,560 $21,000 $0 $245 $0 $6,300 $0 • April checks . April note collected (not included in April deposits) •April bank service charge •April NSF check of a customer returned by the bank 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?
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