Question
The following information was included in the bank reconciliation of GCQ Company on December 31, 2020: Total recorded company receipts for December P850,000 Credit memo
The following information was included in the bank reconciliation of GCQ Company on December 31, 2020:
Total recorded company receipts for December P850,000
Credit memo for November recorded in December 60,000
Credit memo for December not yet recorded 80,000
Erroneous receipt by the company during December,
no correction was made until the following year 50,000
Erroneous bank disbursement in December corrected by bank in December 18,000
Total receipts per bank in December 900,000
Deposit in transit - 12/31/2020 100,000
Book receipt for P90,000 in December recorded by the company as 9,000
What is the total deposit in transit for November 30, 2020?
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
