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  • 1-24. (VAB, Inc.)

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    Revv Cojuangco
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    This document summarizes the outstanding checks for VAB Inc. between April 30 and May 31. It shows that on April 30 there were $30,000 in outstanding checks. In May, $90,000 in credits and $89,000 in cash disbursements were recorded, for a total of $119,000. During May, $69,500 of checks cleared, leaving $49,500 in outstanding checks on May 31.

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    This document summarizes the outstanding checks for VAB Inc. between April 30 and May 31. It shows that on April 30 there were $30,000 in outstanding checks. In May, $90,000 in credits and $89,000 in cash disbursements were recorded, for a total of $119,000. During May, $69,500 of checks cleared, leaving $49,500 in outstanding checks on May 31.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    17 views1 page

    1-24. (VAB, Inc.)

    Uploaded by

    Revv Cojuangco
    This document summarizes the outstanding checks for VAB Inc. between April 30 and May 31. It shows that on April 30 there were $30,000 in outstanding checks. In May, $90,000 in credits and $89,000 in cash disbursements were recorded, for a total of $119,000. During May, $69,500 of checks cleared, leaving $49,500 in outstanding checks on May 31.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1-24. (VAB, Inc.

    Outstanding checks at April 30 30,000


    Add cash disbursements per books:
    Total credits in all journals during May 90,000
    Less Service charge in April recorded in May (1,000) 89,000
    Total 119,000
    Less checks cleared during May:
    Checks and charges by bank in May 80,000
    Less: May service charge (500)
    NSF check returned as a bank charge in May (10,000) 69,500
    Outstanding checks at May 31 49,500

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