User Account

All Pages

How much is the deposit in transit on december

Assignment Help Accounting Basics
Reference no: EM133175942

Question - The following information was obtained in connection with the audit of X Co.'s cash account as of December 31, 2016:

Outstanding checks, Nov. 30, 2016 P16,250

Outstanding checks, Dec. 31, 2016 12,500

Deposit in transit, Nov. 30, 2016 12,500

Cash balance per general ledger, Dec. 31, 2016 37,500

Actual company collections from its customers during December 152,500

Company checks paid by bank in December 130,000

Bank service charges recorded on company books in December 2,500

Bank service charges per December bank statement 3,250

Deposits credited by bank during December 145,000

November bank service charges recorded on company books in December 1,500

The cash receipts book of December is underfooted by P2,500.

The bank erroneously charged the company's account for a P3,750 check of another depositor. This bank error was corrected in January 2017.

1. How much is the deposit in transit on December 31, 2016?

2. The total unrecorded bank service charges as of December 31, 2016 is.

3. What is the total book receipts in December?

4. What is the total amount of company checks issued in December?

5. What is the total book disbursements in December?

6. What is the book balance on November 30, 2016?

7. What is the bank balance on November 30, 2016?

8. What is the total bank receipts in December?

9. What is the total bank disbursements in December?

10. What is the bank balance on December 31, 2016?

Reference no: EM133175942

Questions Cloud

Explain the business and personal finances : Through completing this week's reading and activities, how important is it to a small business owner to understand the financial management of their business an
What are the four cycles of a crisis : 1. What are the four cycles of a crisis, as demonstrated on the facts? Is this a crisis and, if so, what type? What should the company do to resolve this allege
What is the role of a customer information record : Describe and discuss the accounting entries that occur at each step of the fulfillment process. What is the role of a customer information record
Dimensions of the product-selling model : To fulfill a problem-solving need, salespeople must often be prepared to communicate effectively with customers who are seeking a cluster of satisfactions (see
How much is the deposit in transit on december : The cash receipts book of December is underfooted by P2,500. How much is the deposit in transit on December 31, 2016
Discuss technology intelligence and technology strategy : 1. Discuss technology intelligence and technology strategy based on your understanding?
What is good to great leadership according to jim collins : What is Good to Great Leadership according to Jim Collins? What are the salient points of his propositions? Please provide the complete solution of this problem
Make the journal entries to record each transaction : Ainsley pays the invoice in full. On July 30, the inventory is sold on account for $30,000. Make the journal entries to record each transaction
Is inspection a quality control : Case: Jolibee has a juicy fried chicken compared to MCd and other rival chicken food chains. In line with the quality control over this:

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd