Identify the requested amount in each of the following situations: a. Munster Company's May 31 bank reconciliation
Question:
Identify the requested amount in each of the following situations:
a. Munster Company's May 31 bank reconciliation shows deposits in transit of \(\$ 1,400\). The general ledger Cash in Bank account shows total cash receipts during June of \(\$ 55,600\). The June bank statement shows total cash deposits of \(\$ 54,300\) (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation?
b. Sanders Company's August 31 bank reconciliation shows outstanding checks of \(\$ 1,850\). The general ledger Cash in Bank account shows total cash disbursements (all by check) during September of \(\$ 49,800\). The September bank statement shows \(\$ 49,200\) of checks clearing the bank. What amount of outstanding checks should appear in the September 30 bank reconciliation?
c. Burkle Corporation's March 31 bank reconciliation shows deposits in transit of \(\$ 700\). The general ledger Cash in Bank account shows total cash receipts during April of \(\$ 41,000\). The April bank statement shows total cash deposits of \(\$ 37,100\) (including \(\$ 1,000\) from the collection of a note; the note collection has not yet been recorded by Sanders). What amount of deposits in transit should appear in the April 30 bank reconciliation?
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