2. Rose Corporation's checkbook balance on December 31, 2017, was P8,000. In addition, Ro + the following items in safe on December 31: Check payable to Rose Corporation, dated January 2, 2018 not included in December 31 checkbook balance P2,000 Check payable to Rose Corporation, dated December 20, and included in December 31 checkbook balance, but returned by the bank December 30, stamped “NSF". The check was redeposited January 2, 2018, and cleared January 7 Postage stamps received from mail-order customers Check drawn on Rose Corporation's account, payable to vendor, dated and recorded December 31, but not mailed until January 400 150 15, 2018 1,000

2. Rose Corporation's checkbook balance on December 31, 2017, was P8,000. In addition, Ro + the following items in safe on December 31: Check payable to Rose Corporation, dated January 2, 2018 not included in December 31 checkbook balance P2,000 Check payable to Rose Corporation, dated December 20, and included in December 31 checkbook balance, but returned by the bank December 30, stamped “NSF". The check was redeposited January 2, 2018, and cleared January 7 Postage stamps received from mail-order customers Check drawn on Rose Corporation's account, payable to vendor, dated and recorded December 31, but not mailed until January 400 150 15, 2018 1,000

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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H7. What is ABC Company, Inc.'s cash balance as of March 31? Cash balance on depositor's books: $15,000 checks in circulation: $2,500 interest earned on account balance: $15 customer check returned for non-sufficient funds (“NSF”): $100 multiple choice a)$12,500 b)$14,885 c)$14,915 d)$17,385
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None
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