Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bank Reconciliation Components Identify the requested amount in each of the following situations: Howell Company's August 31 bank reconciliation shows deposits in transit of $2,

image text in transcribed

Bank Reconciliation Components Identify the requested amount in each of the following situations: Howell Company's August 31 bank reconciliation shows deposits in transit of $2, 400. The general ledger Cash in Bank account shows total cash receipts during September of $91, 200. The September bank statement shows total cash deposits (and no credit memos) of $88,000. What amount of deposits in transit should appear in the September 30 bank reconciliation? Wright Corporation's March 31 bank reconciliation shows deposits in transit of $1, 600. The general ledger Cash in Bank account shows total cash receipts during April of $63, 100. The April bank statement shows total cash deposits of $66, 200 (including $2,000 from the collection of a note; the note collection has not yet been recorded by Wright). What amount of deposits in transit should appear in the April 30 bank reconciliation? Braddock Company's October 31 bank reconciliation shows outstanding checks of $2, 600. The general ledger Cash in Bank account shows total cash disbursements (all by check) during November of $68, 700. The November bank statement shows checks clearing the bank in the amount of $67, 200. What amount of outstanding checks should appear in the November 30 bank reconciliation? $ $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of External Auditing

Authors: Brenda Porter, David Hatherly, Jon Simon

3rd Edition

0470018259, 9780470018255

More Books

Students also viewed these Accounting questions

Question

Who will receive the final evaluation?

Answered: 1 week ago