For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,100 and $5,200, respectively. For the same two months, the bank reported deposits totalling $3,900 and $4,500, respectively. Assuming that there were no deposits in transit at the beginning of January, what was the amount of deposits in transit at the end of January and at the end of February? January February Deposit in transit %24 %24

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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How do i calculate the deposit in transit amount?

For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,100 and $5,200, respectively. For the
same two months, the bank reported deposits totalling $3,900 and $4,500, respectively. Assuming that there were no deposits in
transit at the beginning of January, what was the amount of deposits in transit at the end of January and at the end of February?
January
February
Deposit in transit
$
%24
%24
Transcribed Image Text:For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,100 and $5,200, respectively. For the same two months, the bank reported deposits totalling $3,900 and $4,500, respectively. Assuming that there were no deposits in transit at the beginning of January, what was the amount of deposits in transit at the end of January and at the end of February? January February Deposit in transit $ %24 %24
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