Mojo Plastics Company deposits all receipts and makes all payments by check. - 13584

Solution Posted by
yousafbhutta

yousafbhutta

Rating : (28)C
Solution Detail
Price: $5.00
  • From: Business,
  • Posted on: Thu 30 Aug, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

 

Bank reconciliation.
Mojo 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

$26,746

Add: Deposits in transit

2,100

 

Deduct: Outstanding checks

  (3,800)

 

Balance per books

$25,046

 

 

Month of April Results

 

 

 

 

 

 

Per Bank

Per Books

 

Balance April 30

 

$27,995

$27,355

April deposits

 

11,784

13,889

April checks

 

11,100

10,080

 

April note collected (not included in April deposits)

 

3,000

-0-

April bank service charge

 

35

-0-

April NSF check of a customer returned by the bank

 

 

 

 

 

(recorded by bank as a charge)

900

-0-


Instructions

(a)

Calculate the amount of the April 30:

 

 

1.

Deposits in transit

 

2.

Outstanding checks

 

(b)

What is the April 30 adjusted cash balance? Show all work.

 

Solution Description

 

If you will give me A+++ rating with your nice words in it

Attachments
Bank reconcilation.docx
Bank reconcilat...