ADVANCED FINANCIAL ACCOUNTING IA
ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 14, Problem 14.4.1E
To determine

Introduction:Foreign corrupt practices act of 1977 was passed to curb corruption practices in U.S based companies. The FCPA has two major sections: Part I prohibits foreign bribes and Part II requires publicly held companies to maintain an adequate system of internal control and accurate records.

To choose:The correct option.

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Burson Enterprises' May 31 bank reconciliation shows deposits in transit of $850. The general ledger Cash in Bank account shows total cash receipts during June of $48,500. The June bank statement shows total cash deposits of $44,300 (including $1,500 from the collection of a note; the note collection has not yet been recorded by Burson). What amount of deposits in transit should appear in the June 30 bank reconciliation?
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