Riverbed Corp, deposits all recelpts intact and makes all payments by cheque. The followinginformation is avalable from the cash records: Question 15 of 16 Unknown environment'tabular' (a) Determine the amount of deposits in transit and outstanding cheques at May 31.Keep in mind the time lag between deposits and Determine the amount of deposits in transitand outstanding cheques at May 31. Keep in mind the time lag between deposits andcheques being recorded in the books and when they are recorded by the bank. Deposits intransit: May 31 $2430Outstanding cheques, May 31 $1410Attempts: 0 of 1 used B. Preparea May 31 bank reconciliation showing balance per bank statement and balance per booksand correct cash balance. (List items that increase balance as per bank & books first.)RiverbedCorp.Bank Reconciliation May 31Balance per bank statement. May 31 VAddLessVDeposits intransitOutstanding chequesCorrect cash balance, May 31YVV1, 4108, 7552, 4309,775$$Balance per books, May 31AddVCollection of noteLeSSBank service chargeVNSF cheque9,0501,090540325i (365) Correct cash balance, May 31 Vi9, 775

The process of performing a bank reconciliation involves comparing the company's internal financial…

Answered: Riverbed Corp, deposits all recelpts…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On March 20, Novak's petty cash fund of $118 is replenished when the fund contains $20 in cash and receipts for postage $47, supplies $19, and travel expense $32. Prepare the journal entry to record the replenishment of the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Mar. 20 Debit Credit
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Calculate the amount of cash and cash equivalents if bank balance is OMR 50, Post-dated cheques are OMR 35, Cash in hand is OMR 75, Advance granted to employees is OMR 85, stationery on hand is OMR 36: OMR 125 OMR 175 OMR 161 OMR 260 Which one of the following statements related to the control of cash disbursement is true? ull lis isI O TOSHIBA PRISC F11 F12 ADHSAS
The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS Cash Debit P 208,700 20,350 27,950 109,350 92,700 53,000 16,850 CASH PAYMENTS Check No. 4113 Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 4114 10 4115 16 4116 22 4117 29 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 9 12 17 22 23 92,700 543,750 Less: Checks and other debits: P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 Apr. 7 13 14 15 18 21 26 30 50,000 30 1,000 Service charge 335,300 P 304,000 Ending balance
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