Calculate the amounts deposits in transit on may

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Reference no: EM131818788

Northville Paper and Paint deposits all receipts and makes all payments by check. The following information is available from the cash records. 

April 30 

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 May Results

Per Bank

Per Books

Balance May 31

$27,995

$24,355

May deposits

10,000

12,889

May checks

11,100

16,080

May note collected

3,000

-0-

(not included in April deposits)

 

 

May bank service charge

35

-0-

May NSF check of a customer

900

-0-

returned by the bank

 

 

(recorded by bank as a charge)

 

 

Calculate the following amounts.

(1) Deposits in transit on May 31

(2) Outstanding checks on May 31

Reference no: EM131818788

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