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Ankors Inc. shows the following information in its cash records...

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Ankors Inc shows the following information in its cash records:

June 30th 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 July information:

Per Bank Per Books
Balance July 31 27,995 28,855
July Deposits 10,784 13,889
July Checks 11,600 10,080
Note collected (not in deposits) 3,000 -0-
Service Charge 35 -0-
NSF check returned by bank 900

a. Calculate July 31 Deposits in transit
b. Calculate July 31 outstanding checks
c. Calculate the July 31 adjusted cash balance and record all necessary journal entries.

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Question A
13889 - (10784-2100) = 5205

Question B
10080 - ...

Solution Summary

The expert shoes information in its cash records for Ankors Inc.