Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help with all parts, thanks! The cash records of Grouper Company show the following four situations. 1. The Jine 30 bank reconcifiation indicated thut

Please help with all parts, thanks!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The cash records of Grouper Company show the following four situations. 1. The Jine 30 bank reconcifiation indicated thut deposits in transit totad $2,180. Dut ine fuly the generat ledger account Cain shows deposits of $23,760, but the bank statement indicates that only $23540 in deposits were recelved during the month. 2. The June 30 bankreconcilistion also reported outstanding checiss of \$1,320. During the month of July, Crouper Compuny books show that $25,940 of checks were issued. The bank statrment thowed that $24,740 of shecks clearsd the bank in Juf. 3. In Suptember, deposits per the bunk stuement totaied 540,170 , deposits per books were 538170 , and dedosis in tranut at September:30 were $2.970. 4. In 5 eptember, enth dibursements per books were 536,620 , chechs dearing the bank were 537,570 , and outstanding checks at September 30 were $3,270. Thece were no bank debit or credit memoranda Noerrors were made by either the bank or Ginuper Company Answer the following questions In situation (1), what were the deposits in transit at July 31? Deposits in transit at July 31 Insituation (2), what were the outstandine checks at July 31? Outstanding checks at Juty 31 s In situation (3), what were the deposits in transit at August 31? Deposits in transit at August 31$ Attempts: 0 of 3 used In situation (4), what were the outstanding checks at August 31 ? Outstanding checks at August 31 $ eTextbook and Media Attempts: 0 of 3 used

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

Introductory Accounting A Measurement Approach For Managers

Authors: Daniel P. Tinkelman

1st Edition

9781138956216

More Books

Students also viewed these Accounting questions