Which of the following checks illustrate deposits/transfers in transit at December 31, 2003? a. 101 and 202

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Which of the following checks illustrate deposits/transfers in transit at December 31, 2003?

a. 101 and 202

b. 101 and 303

c. 202 and 404

d. 303 and 404

The following information was taken from the bank transfer schedule prepared during the audit of Fox Co.’s financial statements for the year ended December 31, 2003. Assume all checks are dated and issued on December 30, 2003.

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Auditing Concepts For A Changing Environment With IDEA Software

ISBN: 9780324180237

4th Edition

Authors: Larry E. Rittenberg, Bradley J. Schwieger

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Question Posted: May 08, 2024 03:01 AM

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Which of the following checks illustrate deposits/transfers in transit at December 31, 2003? a. 101 and 202

Question:

BANK ACCOUNTS DISBURSEMENT RECEIPT DATE DATE Check Per Per Per Per No. From To Books Bank Books Bank 101 National Federal Dec. 30 Jan. 4 Dec. 30 Jan. 3 202 County State Jan. 3 Jan. 2 Dec. 30 303 Federal State Dec. 31 Jan. 3 Jan. 2 404 State County Jan. 2 Jan. 2 Jan. 2 Dec. 31 Jan. 2 Dec. 31

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Auditing Concepts For A Changing Environment With IDEA Software

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