Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $26,746 Add: Deposits in transit 2,100 Deduct: Outstanding cheques (3,800) Balance per books $25,046 Month of April Results Per Bank Per Books Balance April 30 $27,995 $27,355 April deposits 11,784 13,889 April cheques 11,100 10,080 April note collected (not included in April deposits) 3,000 0 April bank service charge 35 0 April NSF cheque of a customer returned by the bank (recorded by bank as a charge) 900 0 Required 1. Calculate the following amounts at April 30: a. Deposits in transit b. Outstanding cheques 2. What is the April 30 adjusted cash balance? Show all work.
Emerge Solutions Company deposits all receipts and makes all payments by cheque. The following information is available from the cash records:
MARCH 31 BANK RECONCILIATION
Balance per bank
$26,746
Add: Deposits in transit
2,100
Deduct: Outstanding cheques
(3,800)
Balance per books
$25,046
Month of April Results
Per Bank
Per Books
Balance April 30
$27,995
$27,355
April deposits
11,784
13,889
April cheques
11,100
10,080
April note collected (not included in April deposits)
3,000
0
April bank service charge
35
0
April NSF cheque of a customer returned by the bank (recorded by bank as a charge)
900
0
Required
1. Calculate the following amounts at April 30:
a. Deposits in transit
b. Outstanding cheques
2. What is the April 30 adjusted cash balance? Show all work.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.