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