Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bank Reconciliation Components Identify the requested amount in each of the following situations: Munsing Company's May 31 bank reconciliation shows deposits in transit of $1400.
Bank Reconciliation Components Identify the requested amount in each of the following situations: Munsing Company's 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? Sandusky Company's 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? Fremont Corporation's 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 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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started