(TCO F) Daniels Company deposits all receipts and makes all payments by check.

TCO G) In your audit of Garza Company, you find that a physical inventory on December 31, 2010
February 12, 2020
(TCO B) Adjusting entries: Retained Earnings at 1/1/1X was $0 and at 12/31/1X
February 12, 2020

(TCO F) Daniels Company deposits all receipts and makes all payments by check. The following information is

available from the cash records.

MARCH 31

BANK RECONCILIATIONBalance 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

$24,355

April deposits

8,864

13,889

April checks

13,100

14,080

April note collected 

3,000

-0-

(not included in April deposits)

April bank service charge 

35

-0-

April NSF check of

a customer returned by the bank

(recorded by bank as a charge)

 900

-0-

Instructions

Calculate the amount of the April 30

(1) deposits in transit; and

(2) outstanding checks.

Show all your work for potential partial credit. (Points : 25)

 
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