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Problem - Bank Reconciliation Components - Identify the requested amount in each of the following situations:
a. Munster Company's May 31 bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation?
b. Sanders Company's August 31 bank reconciliation shows outstanding checks of $1 ,850. The general ledger Cash in Bank account shows total cash disbursements (all by check) during September of $49,800. The September bank statement shows $49,200 of checks clearing the bank. What amount of outstanding checks should appear in the September 30 bank reconciliation?
c. Burkle Corporation's March 31 bank reconciliation shows deposits in transit of $700. The general ledger Cash in Bank account shows total cash receipts during April of $41,000. The April bank statement shows total cash deposits of $37,100 (including $1,000 from the collection of a note; the note collection has not yet been recorded by Fremont). What amount of deposits in transit should appear in the April 30 bank reconciliation?
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