Exercise 8-13 The cash records of Dawes Company show the following four situations. For July:...

70.2K

Verified Solution

Question

Finance

image

Exercise 8-13 The cash records of Dawes Company show the following four situations. For July: $15,750, but the bank statement indicates that only $15,600 in deposits were received during the month. 1. The June 30 bank reconciliation indicated that deposits 2. The June 30 bank reconciliation also reported outstanding checks of $680. During the month of July, Dawes Company's books show that $17,200 of checks were issued. The bank statement showed that $16.400 of checks cleared the bank in July transit total $920. During July, the general ledger account Cash shows deposits n September, deposits per the bank statement totaled $25,700, deposits per books were $26,400, and deposits in transit at September 30 were $2,100o. September 30 were $2.100. 4. September, cash disbursements per books were $23,700, checks clearing the bank were $25,000, and outstanding checks There were o bank debit or credit memoranda. No errors were made by either the bank or Dawes Company. (a) In situation (1), what were the deposits in transit at July 31? Deposits in transit at July 31 (b) In situation (2), what were the outstanding checks July 31? Outstanding checks at July 31 c) n situation (3), what were the deposits in transit at August 31? Deposits in transit at August 31 (d) In situation (4), what were the outstanding checks August 31? Qutstanding checks at August 31 Click if you would like to Show Work for this question: Open Show Wark

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students