Official Receipt Date Official Receipt No. Customer Amount 5/2/2016 4171 Carl 4,000 5/8/2016 4172 Vince 2,000 5/9/2016 4173 Ryan 8,900 5/25/2016 4174 Fatima 7,800 5/26/2016 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 following deposits made: Deposit Date Amount 5/3/2016 4,000 5/9/2016 2,000 5/10/2016 8,900 5/26/2016 7,800 5/26/2016 3,200 Instruction: Compute for the deposit in transit or undeposited collection as of end of April 2016.

Official Receipt Date Official Receipt No. Customer Amount 5/2/2016 4171 Carl 4,000 5/8/2016 4172 Vince 2,000 5/9/2016 4173 Ryan 8,900 5/25/2016 4174 Fatima 7,800 5/26/2016 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 following deposits made: Deposit Date Amount 5/3/2016 4,000 5/9/2016 2,000 5/10/2016 8,900 5/26/2016 7,800 5/26/2016 3,200 Instruction: Compute for the deposit in transit or undeposited collection as of end of April 2016.

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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