Question

***PLEASE ANSWER QUESTION AGAIN (SOMEONE ELSE)- FIRST ONE WAS ANSWERED INCORRECTLY

The cash records of Jasmin Company show the following four situations:

1) The June 30 bank reconciliation indicated that deposits in transit total $2,110. During July the general ledger account Cash shows deposits of $23,620, but the bank statement indicates that only $23,400 in deposits were received during the month.

2) The June 30 bank reconciliation also reported outstanding checks of $1,250. During the month of July, Jasmin Company books show that $25,800 of checks were issued. The bank statement showed that $24,600 of checks cleared the bank in July.

3) In September, deposits per the bank statement totaled $40,100, deposits per books were $38,100, and deposits in transit at September 30 were $2,900.

4) In September, cash disbursements per books were $36,550, checks clearing the bank were $37,500, and outstanding checks at September 30 were $3,200.

There were no bank debit or credit memoranda. No errors were made by either the bank or Jasmin Company.

Answer the following questions

(a) In situation 1, what were the deposits in transit at July 31?

(b) In situation 2, what were the outstanding checks at July 31?

(c) In situation 3, what were the deposits in transit at August 31?

(d) In situation 4, what were the outstanding checks at August 31?

Use for answer (fill in the blanks)

(a) Deposits in transit:

Deposits per books in July........................

Less: Deposits per bank in July..................

Deposits in transit, June 30................

July receipts deposited in July.......................

Deposits in transit, July 30..............................

(b) Outstandidng checks

Checks per books in July................................

Less: Checks clearing bank in July................

Outstanding checks, June 30............

July checks cleared in July...........................

Outstanding checks, July 31.......................

(c) Deposits in transit

Deposits per bank statement in September..............

Add: deposits in transit, September 30.....................

Total deposits to be accounted for.............................

Less: Deposits per books.........................................

Deposits in transit, August 31..................................

(d) Outstanding checks

Checks clearing bank in September........

Add: Outstanding checks, September 30.........

Total checks to be accounted for...................

Less: Cash disbursements per books..............

Outstanding checks, August 31..............

Answer 1

(a)	Deposits in transit:
	Deposits per books in July		23620
	Less: Deposits per bank in July	23400
	Deposits in transit, June 30	-2110
	July receipts deposited in July		21290
	Deposits in transit, July 30		2330
(b)	Outstanding checks:
	Checks per books in July		25800
	Less: Checks clearing bank in July	24600
	Outstanding checks, June 30	-1250
	July checks cleared in July		23350
	Outstanding checks, July 31		2450
(c)	Deposits in transit:
	Deposits per bank statement in September		40100
	Add: Deposits in transit, September 30		2900
	Total deposits to be accounted for		43000
	Less: Deposits per books		38100
	Deposits in transit, August 31		4900
(d)	Outstanding checks:
	Checks clearing bank in September		37500
	Add: Outstanding checks, September 30		3200
	Total checks to be accounted for		40700
	Less: Cash disbursements per books		36550
	Outstanding checks, August 31		4150