1. Study carefully the balances of the different accounts of Malabo Photocopying Center on December 31, 2020 Cash P 37,500 28.000 Accounts Receivable Notes Receivable 1,000 Furnitures and Fixtures 34.500 Photocopying Equipment 220,000 Accounts Payable 26.500 58.000 Loan Payable Note Payable 3.000 M. Dela Torre, Capital 200.000 5.000 M. Dela Torre, Drawing Service Income 150.000 8.000 32.000 Rent Income Salaries Expense Supplies Expense Utilities Expense 60.000 10.000 Advertising Expense 15.500 Miscellaneous Expense 2.000 Accounts TOTAL Debit Credit >

1. Study carefully the balances of the different accounts of Malabo Photocopying Center on December 31, 2020 Cash P 37,500 28.000 Accounts Receivable Notes Receivable 1,000 Furnitures and Fixtures 34.500 Photocopying Equipment 220,000 Accounts Payable 26.500 58.000 Loan Payable Note Payable 3.000 M. Dela Torre, Capital 200.000 5.000 M. Dela Torre, Drawing Service Income 150.000 8.000 32.000 Rent Income Salaries Expense Supplies Expense Utilities Expense 60.000 10.000 Advertising Expense 15.500 Miscellaneous Expense 2.000 Accounts TOTAL Debit Credit >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

4. The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec Dec 6 Peуpei Balance b/d 1,900 304 230 1 20 Ceria 265 10 Luna 31 Baiti 325 19 Wilson 261 31 Balance c/d 1,682 29 Cikmah 37 2,502 2,502 Bank Statement Date Items Debit Credit Balance 1,900 1,670 Dec 1 Balance 6 Cheque 230 1,974 1,709 13 Luna 304 20 Cheque 265 22 Wilson 30 Tox : Standing Order Rina : Trader's Credit 31 Bank charges 261 1,970 94 2,064 31 102 1,962 72 2,034 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020.
Chris company: balance per bank statement, november 30, 3,600,000; deposit in transit, 800,000; outstanding checks, 1,200,000; bank credit recorded in error, 200,000; data per bank statement for the month of december follow: december deposits, including note collected of p1,000,000 for cancer, 5,500,000; december disbursements, including nsf customer check of p350,000 and service charge p50,000,4,400,000. all items that were outstanding on november 30 cleared through the bank in december including the bank credit. in addition, checks amounting to p500,000 were outstanding and deposits of p700,000 were in transit on december 31. what is the amount of cash receipts per books in december? *
Use the information taken from BM traders to complete the following: 1. the cash book receipts and cash book payments for july 2019
The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 Dec 1 Balance b/d 1,900 20 Ceria 265 10 Luna 304 31 Baiti 325 19 Wilson 261 31 Balance c/d 1,682 29 Cikmah 37 2,502 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox : Standing Order 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required Prepare the bank reconciliation statement as at 31 December
Identify and explain the components of IT Bank's Balance Sheet?
Logan Bruno Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 1 $ 9,369 Deposits during August $32,200 41,569 Note collected for depositor, including $40 interest 1,040 42,609 Checks cleared during August $34,500 8,109 Bank service charges 20 8,089 Balance, August 31 8,089 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 10,050 Disbursements in August 34,903 Receipts during August 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Instructions a. Prepare a bank reconciliation dated…
Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 36,000 December 6 $ 7,520 28,480 55,030 December 11 450 $ 27,000 December 17 8,900 46,130 December 23 34,000 80,130 December 26 450 79,680 December 30 12,200 18,000 NSF* $ 200 85,280 December 31 Interest earned 20 85,300 December 31 Service charge 50 85,250 NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 36,000 Checks written during Deposits December: December 11 27,000 7,520 December 23 34,000 450 December 30 18,000 8,900 December 31 11,000 450 50 12,200 5,700 December 31 Balance 90,730 There were no deposits in transit or outstanding checks at November 30.
You were able to gather the following from the December 31, 2020 trialbalance of PPP COMPANY: Cash on hand P 500,000 Petty cash fund 10,000 BPI current account 1,000,000 Security Bank current account No. 1 1,080,000 Security Bank current account No. 2 (80,000) PNB savings account 1,200,000 PNB current account 500,000 Cash on hand includes the following items: ∙ Customer’s check for 45,000 returned by bank on December 26, 2020 dueto insufficiency of funds but subsequently redeposited and cleared bythe bank on January 8, 2021 ∙ Customer’s check for 25,000 dated January 2, 2021, received inDecember 29, 2020 ∙ Postal money orders received from customers 30,000 The petty cash fund consisted of the following items as of December 31, 2020Currency and coins P 2,000Employees’ vales 1,600Currency in envelope marked “collections for charity 1,200Unreplenished petty cash vouchers 1,300Check drawn by PPP payable to petty cash custodian 4,00010,100 Included among the checks drawn by PPP against…
Jessie has a cash account per general ledger that shows a balance of $78,659 atOctober 31, 2021. Bank statement from Ocean Paradise Bank on that dateshows the following date shows the following balance. 31 October Amount $88,080 Comparison of checking account details with cash account details reveals factsas follows.1. A note receivable of $13,070 was invoiced by the bank for Jessie on the 14thOctober plus $713 interest and the bank has charged $137 on the billing. No interest has been recognized on these notes.2. Check No. 175 the amount of $5,741 was entered in the cash journal as $5,471and Check No. 189 of $2,040 was entered in the cash journal as$2,400. Both checks have been issued to pay for the purchase of supplies.3. The bank has charged Jessie account. for customer unbilled checks amounting to $789 on October 23. 4. Deposit in progress is $7,388 and outstanding check no. 123 on October 28totaling $5,309.5. There was a canceled check issued by Kenny to Leo for $2,079 that was…