1. The cash receipts journal of Malaya Merchandising refie for the month of April 2019. Amount Official Receipt Official Receipt Customer Name Date No. 4,000 4171 Carl 5/2/2019 2,000 4172 Vince 5/8/2019 8,900 5/9/2019 4173 Ryan 7,800 5/25/2019 4174 Fatima 3,200 5/26/2019 4175 Cherry It is the policy of the company to deposit collection within the following day from the date of collection. The bank statement for April 2016 revealed following deposits made: Deposit Date 5/3/2019 Amount 4,000 2,000 8,900 7,800 3,200 5/9/2019 5/10/2019 5/26/2019 5/26/2019 Required: Compute for the deposit in transit or undeposited collection as of end of April 2019.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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As per the bank statement received by Tope, the following checks were presented and paid by the bank:

| Check No | Payee | Amount  |
|----------|-------|---------|
| 1256     | Jane  | 2,000   |
| 1259     | Kathy | 870     |
| 1260     | Perry | 1,200   |

**Required**: Identify outstanding checks as of the end of May 2019.

**Graph or Diagram Explanation**:  
The left side of the image features a partial diagram or graph, but it is unclear and partially cut off, making it difficult to describe accurately. No further details can be extracted from this section.
Transcribed Image Text:As per the bank statement received by Tope, the following checks were presented and paid by the bank: | Check No | Payee | Amount | |----------|-------|---------| | 1256 | Jane | 2,000 | | 1259 | Kathy | 870 | | 1260 | Perry | 1,200 | **Required**: Identify outstanding checks as of the end of May 2019. **Graph or Diagram Explanation**: The left side of the image features a partial diagram or graph, but it is unclear and partially cut off, making it difficult to describe accurately. No further details can be extracted from this section.
**What's More**

**Activity 3.1 Compute Me**

1. The cash receipts journal of Malaya Merchandising reflected the following collections for the month of April 2019:

| Official Date | Receipt No. | Customer Name | Amount |
|---------------|-------------|---------------|--------|
| 5/2/2019      | 4171        | Carl          | 4,000  |
| 5/8/2019      | 4172        | Vince         | 2,000  |
| 5/9/2019      | 4173        | Ryan          | 8,900  |
| 5/25/2019     | 4174        | Fatima        | 7,800  |
| 5/26/2019     | 4175        | Cherry        | 3,200  |

It is the policy of the company to deposit collection within the following day from the date of collection.

The bank statement for April 2016 revealed the following deposits made:

| Deposit Date | Amount |
|--------------|--------|
| 5/3/2019     | 4,000  |
| 5/9/2019     | 2,000  |
| 5/10/2019    | 8,900  |
| 5/26/2019    | 7,800  |
| 5/26/2019    | 3,200  |

**Required:** Compute for the deposit in transit or undeposited collection as of end of April 2019.

2. For the month of May 2019, Tope Company issued the following checks as recorded in its Cash Disbursement Journal:

| Check Date | Check No | Payee  | Amount |
|------------|----------|--------|--------|
| 5/2/2019   | 1256     | Jane   | 2,000  |
| 5/10/2019  | 1257     | May    | 300    |
| 5/15/2019  | 1528     | Nicole | 4,500  |
| 5/18/2019  | 1259     | Kathy  | 8,700  |
| 5/30/2019  | 1260     | Perry  | 1,200  |
Transcribed Image Text:**What's More** **Activity 3.1 Compute Me** 1. The cash receipts journal of Malaya Merchandising reflected the following collections for the month of April 2019: | Official Date | Receipt No. | Customer Name | Amount | |---------------|-------------|---------------|--------| | 5/2/2019 | 4171 | Carl | 4,000 | | 5/8/2019 | 4172 | Vince | 2,000 | | 5/9/2019 | 4173 | Ryan | 8,900 | | 5/25/2019 | 4174 | Fatima | 7,800 | | 5/26/2019 | 4175 | Cherry | 3,200 | It is the policy of the company to deposit collection within the following day from the date of collection. The bank statement for April 2016 revealed the following deposits made: | Deposit Date | Amount | |--------------|--------| | 5/3/2019 | 4,000 | | 5/9/2019 | 2,000 | | 5/10/2019 | 8,900 | | 5/26/2019 | 7,800 | | 5/26/2019 | 3,200 | **Required:** Compute for the deposit in transit or undeposited collection as of end of April 2019. 2. For the month of May 2019, Tope Company issued the following checks as recorded in its Cash Disbursement Journal: | Check Date | Check No | Payee | Amount | |------------|----------|--------|--------| | 5/2/2019 | 1256 | Jane | 2,000 | | 5/10/2019 | 1257 | May | 300 | | 5/15/2019 | 1528 | Nicole | 4,500 | | 5/18/2019 | 1259 | Kathy | 8,700 | | 5/30/2019 | 1260 | Perry | 1,200 |
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