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forsale [732]
3 years ago
9

The cash records of Oriole Company show the following. For July: 1. The June 30 bank reconciliation indicated that deposits in t

ransit total $690. During July, the general ledger account Cash shows deposits of $17,970, but the bank statement indicates that only $15,770 in deposits were received during the month. 2. The June 30 bank reconciliation also reported outstanding checks of $930. During the month of July, Oriole Company books show that $19,160 of checks were issued, yet the bank statement showed that $16,800 of checks cleared the bank in July. For September: 3. In September, deposits per bank statement totaled $26,750, deposits per books were $26,340, and deposits in transit at September 30 were $2,810. 4. In September, cash disbursements per books were $23,030, checks clearing the bank were $24,370, and outstanding checks at September 30 were $2,44
Business
1 answer:
inysia [295]3 years ago
8 0

Explanation:

a.  Deposit in Transit at July 31 = Deposit in Transit, June 30 + Deposit as per Cash Book – Deposits as per Bank Book

= $690 + $17,970 - $15,770

= $2,890

b.  Outstanding Checks at July 31 = Outstanding Checks at June 30 + Checks issued as per Cash Book – Checks cleared as per Bank Book

= $930 + $19,160 - $16,800

= $3,290

c.  Deposits in Transit at August 31 = Deposits as per Bank Statement – Deposits as pr Books + Deposits in Transit, September 30

= $26,750 - $26,340 + $2,810

= $3,220

d.  Outstanding Checks at August 31 = Checks cleared by Bank – Cash Disbursements as per Books + Outstanding Checks, September 30

= $24,370 - $23,030 + $2,440

= $3,780

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