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? What is the adjusted cash in bank on July 31? 2.

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? What is the adjusted cash in bank on July 31? 2.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5DQ

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Similar questions

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