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Question # 6 Saturn Company deposits all receipts daily and makes all payments by cheque. The following information is available from the cash records of
Question # 6 Saturn Company deposits all receipts daily and makes all payments by cheque. The following information is available from the cash records of Saturn in the month of April, its first month of operations: Month of April Results Per Bank Per Books $42,000 $42,140 11,200 17.300 12,010 14,320 Balance April 30 April deposits recorded April cheques recorded Items on bank statement but not in books: Note collected by bank. Bank service charge..... Customer's NSF cheque returned by the bank.. 5,500 50 1,800 -0- -0- -0- Instructions a) Calculate the amount of the April 30: 1. Deposits in transit 2. Outstanding cheques. Deposits in transit: Outstanding cheques: b) What is the April 30 adjusted cash balance for Saturn? Show all work
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