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    Proof of Cash-1

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    Ella Malit
    Evergreen Company is preparing its March 31 bank reconciliation using data from its February 28 reconciliation and March transactions. The February deposit in transit was $1,700 and outstanding checks were $3,900. The March 31 balance per books was $59,400, which was $20,000 lower than the bank balance due to a $1,500 check erroneously included in the bank balance. The deposit in transit on March 31 was $3,100.

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    Proof of Cash-1

    Uploaded by

    Ella Malit
    1K views7 pages
    Evergreen Company is preparing its March 31 bank reconciliation using data from its February 28 reconciliation and March transactions. The February deposit in transit was $1,700 and outstanding checks were $3,900. The March 31 balance per books was $59,400, which was $20,000 lower than the bank balance due to a $1,500 check erroneously included in the bank balance. The deposit in transit on March 31 was $3,100.

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    Evergreen Company is preparing its March 31 bank reconciliation using data from its February 28 reconciliation and March transactions. The February deposit in transit was $1,700 and outstanding checks were $3,900. The March 31 balance per books was $59,400, which was $20,000 lower than the bank balance due to a $1,500 check erroneously included in the bank balance. The deposit in transit on March 31 was $3,100.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1K views7 pages

    Proof of Cash-1

    Uploaded by

    Ella Malit
    Evergreen Company is preparing its March 31 bank reconciliation using data from its February 28 reconciliation and March transactions. The February deposit in transit was $1,700 and outstanding checks were $3,900. The March 31 balance per books was $59,400, which was $20,000 lower than the bank balance due to a $1,500 check erroneously included in the bank balance. The deposit in transit on March 31 was $3,100.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 7

    Proof of Cash

    • Evergreen Company is preparing its March 31 bank reconciliation. The


    following data are available for the February 28 bank reconciliation:
    Deposit in transit 1,700
    Outstanding checks 3,900

    March data: Per bank Per book


    Balance, February 28 74,140 71,940
    March deposit reflected 47,600 49,000
    March checks reflected 61,700* 61,000
    Note collected (including 200 interest) 20,000
    Service charge 120 _ ______
    Balance, March 31 79,920 59,400

    *Erroneously includes a check by Ever Company for 1,500. How much were the
    deposit in transit at March 31?
    • Ans. 3,100
    • Richmond Company had the following bank reconciliation at March 31, 2019:
    Balance per bank statement 3/31/19 46,500
    Add: Deposit in transit 10,300
    Total 56,800
    Less: Outstanding checks 12,600
    Balance per book 3/31/19 44,200
    Data per bank statement for the month of April 2019 follow:
    Deposit in transit 58,400
    Disbursements 49,700

    All reconciliation items on March 31 were cleared through the bank in April.
    Outstanding checks at April 30 totaled 7,500. How much is the amount of cash
    disbursements per book in April?
    • Ans. 44,600
    • In reconciling the Cash in bank of Inner Company with the bank statement balance
    for the month of November 2019, the following data are summarized:
    Book debits for November, including
    October CM for note collected 60,000 800,000
    Book credits for November, including NSF of 20,000
    and service charge of 800 for October 620,000
    Bank credits for Nov., including CM for Nov. of 100,000
    and Oct. deposit in transit for 80,000 700,000
    Bank debits for Nov., including Oct. outstanding checks
    of 170,000 and Nov. service charge of 200 600,000

    How much is the deposit in transit for the month of November?


    • Ans. 220,000

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