Question
1. The June 30 bank reconciliation indicated that deposits in transit total $2,000. During July, the general ledger account Cash shows deposits of $14,750, but
| 1. | The June 30 bank reconciliation indicated that deposits in transit total $2,000. During July, the general ledger account Cash shows deposits of $14,750, but the bank statement indicates that $15,820 in deposits were received during the month. | |
| 2. | In August, deposits per bank statement totalled $22,500 and deposits per books were $22,900. What were the deposits in transit at July 31 and at August 31? |
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
