Can you assist me get started with this assignment?
Ankors Inc shows the following information in its cash records:
June 30th 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 July information:
Per Bank Per Books
Balance July 31 27,995 28,855
July Deposits 10,784 13,889
July Checks 11,600 10,080
Note collected (not in deposits) 3,000 -0-
Service Charge 35 -0-
NSF check returned by bank 900
Instructions:
Q1. Calculate July 31 Deposits in transit
Q2. Calculate July 31 outstanding checks
Q3. Calculate the July 31 adjusted cash balance and record all necessary journal entries.