Asummary of the cash account in the ledger for august shows the following: balance, august 1, $16,900; receipts $77,247; disbursements $73,533; and balance, august 31, $20,614. analysis reveals that the only reconciling items on the july 31 bank reconciliation were a deposit in transit for $5,000 and outstanding checks of $4,500. in addition, you determine that there was an error involving a company check drawn in august: a check for $400 to a creditor on account that cleared the bank in august was journalized and posted for $40.
(a) determine deposits in transit.
(b) determine outstanding checks. (hint: you need to correct disbursements for the check error.)

Companies hd and ld are both profitable, and they have the same total assets (ta), total invested capital, sales (s), return on assets (roa), and profit margin (pm). both firms finance using only debt and common equity. however, company hd has the higher total debt to total capital ratio. which of the following statements is correct? a) company hd has a higher assets turnover than company ld. b) company hd has a higher return on equity than company ld. c) none of the other statements are correct because the information provided on the question is not enough. d) company hd has lower total assets turnover than company ld. e) company hd has a lower operating income (ebit) than company ld