What is the amount of the deposit in transit?
A) $5,856.
B) $9,513.
C) $3,067.
D) $3,083.

Question

Quizplus · Accepted Answer

The amount of the deposit in transit can be calculated by subtracting the ending balance according to the bank statement ($62,321) from the adjusted balance per books ($65,388) and adding any outstanding checks ($600 and $4,421) and then subtracting any deposits in transit. Solving this equation results in $3,067 as the deposit in transit.

What Is the Amount of the Deposit in Transit