The cash records of the Kilimanjaro Ltd show the following:
1. The 30 June bank reconciliation indicated that deposits in transit totalled $390. During July the general ledger account, Cash shows deposits of $9,700, but the bank statement indicates that only $9,540 in deposits were received during the month.
2. The 30 June bank reconciliation also reported outstanding cheques of $800. During the month of July, Kilimanjaro's books show that $11,170 of cheques were issued, yet the bank statement showed that $11,500 of cheques cleared the bank in July.
There were no bank debit or credit memoranda and no errors were made by either the bank or Kilimanjaro Ltd.
Answer the following questions:
(a) What were the outstanding deposits (deposits in transit) at 31 July?
(b) What were the outstanding cheques at 31 July?

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The Answer of The cash records of the Kilimanjaro Ltd show the following:
1. The 30 June bank reconciliation indicated that deposits in transit totalled $390. During July the general ledger account, Cash shows deposits of $9,700, but the bank statement indicates that only $9,540 in deposits were received during the month.
2. The 30 June bank reconciliation also reported outstanding cheques of $800. During the month of July, Kilimanjaro's books show that $11,170 of cheques were issued, yet the bank statement showed that $11,500 of cheques cleared the bank in July.
There were no bank debit or credit memoranda and no errors were made by either the bank or Kilimanjaro Ltd.
Answer the following questions:
(a) What were the outstanding deposits (deposits in transit) at 31 July?
(b) What were the outstanding cheques at 31 July?

The Cash Records of the Kilimanjaro Ltd Show the Following