The cash records of George Company show the following: 1. In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits in transit at September 30 were $4,900. 2. In September, cash disbursements per books were $35,600; checks clearing the bank were $38,900; and outstanding checks at September 30 were $3,000. There were no bank debit or credit memoranda and no errors were made by either the bank or George Company. (a) What were the deposits in transit at August 31? Deposits in transit at August 31 $
The cash records of George Company show the following: 1. In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits in transit at September 30 were $4,900. 2. In September, cash disbursements per books were $35,600; checks clearing the bank were $38,900; and outstanding checks at September 30 were $3,000. There were no bank debit or credit memoranda and no errors were made by either the bank or George Company. (a) What were the deposits in transit at August 31? Deposits in transit at August 31 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The cash records of George Company show the following:
There were no bank debit or credit memoranda and no errors were made by either the bank or George Company.
| 1. | In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits in transit at September 30 were $4,900. | |
| 2. | In September, cash disbursements per books were $35,600; checks clearing the bank were $38,900; and outstanding checks at September 30 were $3,000. |
There were no bank debit or credit memoranda and no errors were made by either the bank or George Company.
(a)
What were the deposits in transit at August 31?
| Deposits in transit at August 31 | $ |
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