How much were the deposit in transit at December 31, 2021? The following information was given under Mickey Mouse Corporation.Mickey Mouse Corporation received the bank statement for the month of December indicatesthat only P35,200 in deposits were received during the month and checks clearing the bank wereP32,700.While on the other hand, at December 31, 2021, cash receipts and cash disbursements pergeneral ledger Cash in Bank account of Mickey Mouse are P40,800 and P30,000, respectively.The November 30, 2021 bank reconciliation showed deposits in transit of P10,700. Outstandingchecks at December 31, 2021 were P5,000.How much were the deposit in transit at December 31, 2021?

Deposit in Transit = Deposit as per books - (Deposit as per Bank - Beginning Balance of Deposit in…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

You invest $5109.15 in a short-term deposit at 5.17% from June 1, 2019 to December 25, 2019. What will be the maturity value of this investment?
Define the following and provide respective examples;Simple interest Compound interestAnnual Percentage Rate – APR -Also, please provide a definition of a perpetuity and its formula
Following is a table for the present value of $1 at compound interest: Year 1 2 3 4 0.893 0.797 0.712 0.636 0.567 Following is a table for the present value of an annuity of $1 at compound interest: Year 5 1 2 3 6% 4 0.943 0.890 0.840 0.792 0.747 6% 0.943 1.833 2.673 10% 3.465 4.212 0.909 0.826 0.751 0.683 0.621 10% 0.909 1.736 12% 2.487 3.170 3.791 12% 0.893 1.690 2.402 3.037 3.605 5 Using the tables provided, the internal rate of return of an investment of $227,460 that would generate an annual cash inflow of $60,000 for the next 5 years a. cannot be determined from the data given b. is 12% O c. is 6% O d. is 10%
What are the annual cash flows (in $) of an annuity for 19 years, which costs $48,783 today, if the discount rate is 7.76 percent? Answer to two decimals.
The present value of an annuity due is determined on the last day of the first annuity period. on the first day of the last annuity period. on the last day of the last annuity period. on the date of the first cash flow in the series.
What is the effective rate (annually compounded rate) of interest corresponding to 9% compounded quarterly? What is the equivalent monthly rate?
Suppose you deposit $1,181.00 into an account 5.00 years from today. Exactly 18.00 years from today the account is worth $1,800.00. What was the account's interest rate?
How much will a registered retirement savings deposit of $23 700.00 be worth in 8 years at 6.54% compounded semiannually? How much of the amount is interest?
Following is a table for the present value of $1 at compound interest: Year 6% 10% 12% 1 0.943 0.909 0.893 2 0.890 0.826 0.797 3 0.840 0.751 0.712 4 0.792 0.683 0.636 5 0.747 0.621 0.567 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 12% 1 0.943 0.909 0.893 2 1.833 1.736 1.690 3 2.673 2.487 2.402 4 3.465 3.170 3.037 5 4.212 3.791 3.605 Using the tables provided, the present value of $6,453 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is
The present value of an ordinary annuity is determined on the last day of the first annuity period. on the first day of the first annuity period. on the last day of the last annuity period. immediately before the first cash flow in the series occurs.
How do you calculate quarterly hour system?
Calculate the present value as at 1 January 2019 of a series of payments of £100 payable on the first day of each month during 2020, 2021 and 2022, assuming an effective rate of interest of 8% per annum. Calculate this in form of Annuities like in Actuarial Science.

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