Homework Help is Here – Start Your Trial Now!
Business
Accounting
Problem 3. A Company provide the following bank reconciliation on May 31: Balance per bank statement Deposits outstanding Checks outstanding 2,100,000 300,000 (80,000) Correct cash balance 2,320,000 Balance per book Bank service charge Correct cash balance 2,322,000 (2,000). 2,320,000 Data for the month of June: Checks recorded Deposits recorded Collection by Bank (400,000 note Bank 2,360,000 1,800,000 Book 2,400,000 1,900,000 Plus interest ) 420,000

Problem 3. A Company provide the following bank reconciliation on May 31: Balance per bank statement Deposits outstanding Checks outstanding 2,100,000 300,000 (80,000) Correct cash balance 2,320,000 Balance per book Bank service charge Correct cash balance 2,322,000 (2,000). 2,320,000 Data for the month of June: Checks recorded Deposits recorded Collection by Bank (400,000 note Bank 2,360,000 1,800,000 Book 2,400,000 1,900,000 Plus interest ) 420,000

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 21E
See similar textbooks
icon
Related questions
Question

p.3a - What is the amount of deposits in transit on June 30?

Problem 3. A Company provide the fllowing bank reconciliation on May 31: Balance per bank statement Deposits outstanding Checks outstanding 2,100,000 300,000 (80,000) Correct cash balance 2,320,000 Balance per book Bank service charge Correct cash balance 2,322,000 (2,000) 2,320,000 Data for the month of June: Book 2,400,000 1,900,000 Bank Checks recorded 2,360,000 1,800,000 Deposits recorded Collection by Bank (400,000 note Plus Interest ) 420,000 NSF check returned with June 30 Balances 10,000 1,830,000 1,810,000
Transcribed Image Text:Problem 3. A Company provide the fllowing bank reconciliation on May 31: Balance per bank statement Deposits outstanding Checks outstanding 2,100,000 300,000 (80,000) Correct cash balance 2,320,000 Balance per book Bank service charge Correct cash balance 2,322,000 (2,000) 2,320,000 Data for the month of June: Book 2,400,000 1,900,000 Bank Checks recorded 2,360,000 1,800,000 Deposits recorded Collection by Bank (400,000 note Plus Interest ) 420,000 NSF check returned with June 30 Balances 10,000 1,830,000 1,810,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS