Information is the same for questions A-C

During September, Zibar Corporation records checks totaling $60,616 and deposits totaling $61,590. The September 1 balance per the companys records is $7,931. The August 31 bank reconciliation shows deposits in transit totaling $14,411 and outstanding checks totaling $30,064.

The September 30 bank statement from TriNational Bank of Elkville shows the following summary of activity in the bank account:

$23,584 Balance, September 1

$75,018 Deposits and other credits

$58,634 Checks and other charges

$39,968 Balance, September 30

Summary figures above include any relevant effects of the following:

• The bank posted a $8,964 deposit twice. Zibar made and recorded only one deposit for this amount.
• The bank credited Zibars account for $50 interest earned.
• Zibar wrote check 1533 for $3,359 and recorded this check as $3,395 in the books. The bank cleared the check for $3,359.
• The bank charged Zibars account for a $25 check order fee and a $734 NSF.

QUESTIONS:

A)

What is the ending balance per the books on September 30 that should serve as your basis (i.e., starting point) for the book side of the bank reconciliation?

(Hint: This number is not adjusted for any errors on the book side.)

B)

What is the dollar amount of customer deposits (prepared and made by Zibar) included in the $75,018 deposits and other charges in the September bank records?

Hints: (1) This is an intermediary step in computing deposits in transit. (2) You must adjust for a bank error when making this computation, though this may not be the only adjustment.

C)

What is the dollar amount of checks that Zibar would expect to clear the bank if all the checks written by Zibar as of September 30 cleared?

Hints: (1) This is an intermediary step in computing outstanding checks. (2) You must adjust for a book error when making this computation.