Question
Bank Reconciliation Components Identify the requested amount in each of the following situations: a. Munsing Companys May 31 bank reconciliation shows deposits in transit of
Bank Reconciliation Components Identify the requested amount in each of the following situations:
a. Munsing Companys May 31 bank reconciliation shows deposits in transit of $1400. The general ledger Cash in Bank account shows total cash receipts during June of $57300. The June bank statement shows total cash deposits (and no credit memos) of $55900. What amount of deposits in transit should appear in the June 30 bank reconciliation? b. Sandusky Companys August 31 bank reconciliation shows outstanding checks of $2,100. The general ledger Cash in Bank account shows total cash disbursements (all by check) during September of $50,300. The September bank statement shows checks clearing the bank in the amount of $49,200. What amount of outstanding checks should appear in the September 30 bank reconciliation? c. Fremont Corporations March 31 bank reconciliation shows deposits in transit of $800. The general ledger Cash in Bank account shows total cash receipts during April of $38,000. The April bank statement shows total cash deposits of $37,100 (including $1,300 from the collection of a note; the note collection has not yet been recorded by Fremont). What amount of deposits in transit should appear in the April 30 bank reconciliation?
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