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  • Accounting For Cash

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    Reiner Jan Alcantara
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    ABC Company reconciled its bank account as of March 31st, showing a balance per bank of $26,746 with $2,100 in deposits in transit and $3,800 in outstanding checks, bringing the balance per books to $25,046. The company's April bank statement showed a balance of $27,995 with $11,784 in deposits, $11,100 in checks, a $3,000 note collected, and $35 in bank charges, while the balance per books was $27,355 with $13,889 in deposits and $10,080 in checks.

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    ABC Company reconciled its bank account as of March 31st, showing a balance per bank of $26,746 with $2,100 in deposits in transit and $3,800 in outstanding checks, bringing the balance per books to $25,046. The company's April bank statement showed a balance of $27,995 with $11,784 in deposits, $11,100 in checks, a $3,000 note collected, and $35 in bank charges, while the balance per books was $27,355 with $13,889 in deposits and $10,080 in checks.

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    Download as PPTX, PDF, TXT or read online from Scribd
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    15 views26 pages

    Accounting For Cash

    Uploaded by

    Reiner Jan Alcantara
    ABC Company reconciled its bank account as of March 31st, showing a balance per bank of $26,746 with $2,100 in deposits in transit and $3,800 in outstanding checks, bringing the balance per books to $25,046. The company's April bank statement showed a balance of $27,995 with $11,784 in deposits, $11,100 in checks, a $3,000 note collected, and $35 in bank charges, while the balance per books was $27,355 with $13,889 in deposits and $10,080 in checks.

    Copyright:

    © All Rights Reserved
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    of 26

     ABC Company deposits all receipts and makes all payments by check.

    k. 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-

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