The September bank statement and cash Taccount for Terrick C

The September bank statement and cash T-account for Terrick Company follow BANK STATEMENT Intienest eamed 140 NSF check from B. Frank, a customer Cash (A) Sept Balance 3.900 Checks wn during Septomber 8800 22.600 133 310 There were no deposits in transit or outstanding checks at August 31. 7.00 points Required: Identify and list the deposits in transit at the end of September. (Select all that apply) 14 50 ??, 31,00 2 Identify and list the outstanding checks at the end of September. (Select all that apply.) 810 5 480 50

Solution

1. Deposit in transit = $22600 [Recorded 30 sept. in cash book]

2. Outstanding checks = $580 and $6800

3.         Bank reconciliation

less: oustanding check

[580 + 6800]

less: NSF

: service charge

580

45

4.

Ending balance as per bank statement		117605	Ending balance as per cash account		133310
Add: deposit in transit		22600	Add: interest earned		140
less: oustanding check [580 + 6800]		7380	less: NSF : service charge	580 45	625
up to date cash balance		132825	up to date cash balance		132825