Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 31 Concord Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31
Question 31 Concord Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $59.360 Add: Deposits in transit 4,704 Deduct: Outstanding checks (8,512) Balance per books $55.552 Month of April Results Balance April 30 April deposits April checks April note collected (not included in April deposits) April bank service charge April NSF check of a customer returned by the bank (recorded by bank as a charge) Per Bank Per Books $62,720 $61,600 29,880 31,360 24,864 22,400 6,720 2,395 Calculate the amount of the April 30: 1. Deposits in transit 2. Outstanding checks Click if you would like to show Work for this question: Open Show Work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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