2. Chris Company presented the following bank reconciliation for the month of November:Balance per bank statement, November 30Add ; Deposit in TransitLess; Outstanding checksBank credit recorded in errorBalance per Book, November 30,1,200,000200,000Data per bank statement for the month of December follow:December deposits, including noteCollected of P1,000,000 for ChrisDecember disbursements, including NSF customerCheck P350,000 and service charge P50,000P3,600,000800,0004,400,0001. What is the adjusted cash in bank on December 31 ?2. What is the cash balance per ledger on December 31 ?1,400,0003,000,0005,500,0004,400,000All items that were outstanding on November 30 cleared through the bankIn December, including the bank credit. In addition, checks amounting toP500,000 were outstanding and deposits of P700,000 were in transit on December 31.3. What is the amount of cash receipts per book in December?4.What is the amount of cash disbursements per book on December31?

The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

2. Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add ; Deposit in Transit Less; Outstanding checks Bank credit recorded in error Balance per Book, November 30, 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note Collected of P1,000,000 for Chris December disbursements, including NSF customer Check P350,000 and service charge P50,000 P3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 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.

2. Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add ; Deposit in Transit Less; Outstanding checks Bank credit recorded in error Balance per Book, November 30, 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note Collected of P1,000,000 for Chris December disbursements, including NSF customer Check P350,000 and service charge P50,000 P3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 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.

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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3. Lim Company prepared the following bank reconciliation on June 30: Balance per bank Deposit in transit Outstanding checks Balance per book P 9,800,000 400,000 (1,400,000) P8,800,000 There wer total deposits of P6,500,000 and charges for disbursements of P9,000,000 For July per bank statement. All reconciliation items on June 30 cleared the bank on July 31. Checks outstanding amounted to P1,000,000 and deposits in transit totaled P1,200,000 On July 31. 1. What is the amount of cash disbursements per book in July? 2. What is the adjusted cash in bank on July 31?
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Company developed the following reconciling information and preparing it's April bank recognition: cash balance per bank for 15400, note receivable collected by Bank 8400, outstanding checks 12,600 deposit in transit 6300; bank service charge 150 NSF check 1680; using the above information determine The cash balance per books before adjustment for the company
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Consolidated Paper has just completed its bank reconciliation for the month of Febrruary 2023 as shown below. Balance per bank....... Add: Deposit in transit......... O Less: Outstanding checks... $16,200 2,600 (900) Balance per books...... Add: Interest earned. Less: Bank service charge.... Add: Error in posting payment of accounts receivable Reconciled balance........ $17,900 customer............ $17,400 200 (100) 2 3 Reconciled balance............... 4 5 a. Prepare the adjusting entry (debits and credits) that is needed as a result of the bank reconciliation. 6 b. What cash balance will Consolidated Paper report on its February 28, 2023 financial statements 7 8 9 0 1 400 $17,900
Saved Help Save & Exit Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $9,500. The bank reconciliation for the month contained the following items: $ 920 Deposits in transit Outstanding checks 720 Interest earned 20 NSF check returned to bank 270 Bank service charge 95 Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice Next > Prev 1 of 10 $9,155. $8,580. $8,900. $9,755. I Submit
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