Accounting Principles, Volume 2: Chapters 13 - 26
Accounting Principles, Volume 2: Chapters 13 - 26
12th Edition
ISBN: 9781118978764
Author: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
Publisher: WILEY
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Chapter 2, Problem 17Q

(a)

To determine

Ledger: The journal entries are posted to ledger accounts and when all the ledgers are prepared, numbering is given to them in order to prepare accounts chart.

To explain: Ledger.

(b).

To determine

To explain: The chart of accounts and its importance.

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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? Help
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Accounting Principles, Volume 2: Chapters 13 - 26

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