The document provides financial information from Marlon Company's cash account audit as of December 31, 2021. It lists cash balances, outstanding checks, deposits in transit, collections and payments for November and December. The cash receipts book was underfooted by P8,500 in December and the bank erroneously charged the company P11,250 which was corrected in January 2022.
The document provides financial information from Marlon Company's cash account audit as of December 31, 2021. It lists cash balances, outstanding checks, deposits in transit, collections and payments for November and December. The cash receipts book was underfooted by P8,500 in December and the bank erroneously charged the company P11,250 which was corrected in January 2022.
The document provides financial information from Marlon Company's cash account audit as of December 31, 2021. It lists cash balances, outstanding checks, deposits in transit, collections and payments for November and December. The cash receipts book was underfooted by P8,500 in December and the bank erroneously charged the company P11,250 which was corrected in January 2022.
The following information was obtained in connection with the audit of
Marlon Company's cash account as of December 31, 2021:
Outstanding checks, 11/30/21 P 53, 250
Outstanding checks, 12/31/21 37, 500 Deposit in transit, 11/30/21 50, 000 Cash balance per general ledger 12/31/21 112, 500 Actual company collections from its customers during December 438, 500 Company checks paid by bank in December 375, 000 Bank service charges recorded on company books in December 9, 500 Bank service charges per December bank statement 10, 500 Deposits credited by bank during December 433, 500 November bank service charges recorded on company books in December 5, 750
The cash receipts book of December is under footed by P8,500.
The bank erroneously charged the company's account for a P11,250 check of another depositor. This bank error was corrected in January 2022.
How much is the deposit in transit on December 31, 2021?