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What is the amount of outstanding checks on June

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Question - Animalistic Corporation provided the following information:

Balance per bank statement - May 31 2,600,000

Deposits outstanding 300,000

Checks outstanding (100,000)

Correct bank balance - May 31 2,800,000

Balance per book - May 31 2,810,000

Bank service charge (10,000)

Correct book balance - May 31 2,800,000

June data are as follows:

Bank Book

Check recorded 2,200,000 2,500,000

Deposits recorded 1,600,000 1,800,000

Service charges recorded 50,000

Notes collected by bank, P 500,000 plus interest 550,000

NSF check returned with June 30 statement 100,000

Balances 2,400,000 2,100,000

Required -

What is the amount of outstanding checks on June 30?

What is the amount of deposit in transit on June 30?

What is the adjusted cash in bank on June 30?

Reference no: EM132724747

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