10. Laconic Company received the bank statement for the month of April which included the following information: Bank service charge for April 15,000 Check deposited by Laconic during April was not collectible and has been marked "NSF" by the bank and returmed 40,000 Deposits made but not yet recorded by bank 130,000 Checks written and mailed but not yet recorded by bank 100,000 The entity found a customer check for P35,000 payable to the entity that had not yet been deposited and had not been recorded. The general ledger showed a bank account balance of P920,000

10. Laconic Company received the bank statement for the month of April which included the following information: Bank service charge for April 15,000 Check deposited by Laconic during April was not collectible and has been marked "NSF" by the bank and returmed 40,000 Deposits made but not yet recorded by bank 130,000 Checks written and mailed but not yet recorded by bank 100,000 The entity found a customer check for P35,000 payable to the entity that had not yet been deposited and had not been recorded. The general ledger showed a bank account balance of P920,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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What amount should be reported as cash in bank at year-end?
10. Laconic Company received the bank statement for the month of April which
included the following information:
Bank service charge for April
15,000
Check deposited by Laconic during April was not collectible
and has been marked "NSF" by the bank and returned
40,000
Deposits made but not yet recorded by bank
130,000
Checks written and mailed but not yet recorded by bank
100,000
The entity found a customer check for P35,000 payable to the entity that had not
yet been deposited and had not been recorded.
The general ledger showed a bank account balance of P920.000
20
What amount should be reported as adjusted cash in bank on April 30?
10:18 AM
P Type here to search
w
4») ENG
1/29/2021

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