43. The following bank reconciliation is presented for the Melon Co. for the month of November 2019: P360,800 Balance per bank statement, 11/30/19 Add: Deposit in transit Erroneous bank charges Subtotal P83,000 30,000 113,000 Less: Outstanding checks Balance per books, 11/30/19 P473,800 156,400 P317,400 Data for the month of December 2019 follows: Per bank: December deposits/credits December charges/debits Balance, December 31, 2019 P522,000 448,400 434,400 All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P50,000 in checks were outstanding as of December 31, 2019. What is che amount of cash receipts per books in December 2019? A. P409,000 B. P439,000 C. P492,000 D. P635,000

43. The following bank reconciliation is presented for the Melon Co. for the month of November 2019: P360,800 Balance per bank statement, 11/30/19 Add: Deposit in transit Erroneous bank charges Subtotal P83,000 30,000 113,000 Less: Outstanding checks Balance per books, 11/30/19 P473,800 156,400 P317,400 Data for the month of December 2019 follows: Per bank: December deposits/credits December charges/debits Balance, December 31, 2019 P522,000 448,400 434,400 All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P50,000 in checks were outstanding as of December 31, 2019. What is che amount of cash receipts per books in December 2019? A. P409,000 B. P439,000 C. P492,000 D. P635,000

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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These data pertain to St. Luke Company as of December 31, 2020: Bank service charge not recorded by St. Luke Bank statement, December 31 Checks outstanding (including certified check of P20,000) Customer note collected by bank for St. Luke Deposit in transit Error made by the bank in recording check issued by St. Lucas Error made by the company in recording check that cleared the bank in December (check was drawn in December for P30,000 but recorded at P80,000) Technically defective checks of customers returned by bank 20,000 4,000,000 500,000 150,000 300,000 40.000 50,000 200,000 What is the cash balance per ledger on December 31, 2020? A. 3,980,000 B. 3,880,000 C. 3,860,000 D. 3,800,000
vaibhav subject-Accounting
6, 7, A bank reconciliation for October 31 follows. Bank statement balance Add: Deposit in transit Deduct: Outstanding checks Adjusted bank balance View transaction list < 1 2 Note: Enter debits before credits. Date October 31 Bank Reconciliation October 31 Journal entry worksheet Cash $ 6,482 3 291 6,773 79 $ 6,694 Prepare the necessary journal entries based on the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Book balance Add: 4 Collection of a note Interest earned Deduct: NSF check Bank service charges Adjusted book balance Record the $400 collection of a note receivable by the bank on our behalf. Saved General Journal $ 400 64 Debit 63 61 $ 6,354 Credit 464 6,818 124 $6,694
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Using the following accounts: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks prepare the two correcting journal entries: DR [ Select ] ["Cash", "Bank Service Charges", "Interest Income", "Bank Errors", "Interest Expense"] [ Select ] ["$300", "$852", "$30", "$569", "$1,020"] CR [ Select ] ["Bank Errors", "Interest Income", "Bank Service Charges", "Interest Expense", "Cash"] [ Select ] ["$30", "$852", "$569", "$300", "$1,030"] and DR…
13.In preparing its bank reconciliation for the month of February, ABC Company has made available the following information:Balance per bank statement, February 28 P18,025Deposit in transit, February 28, P3,125Outstanding checks, February 28, P2,875Check erroneously deducted by bank from James' account, P125Bank service charges for February, P25What is the corrected cash balance at February 28? 18,125 18,150 18,275 18,400
Please give me correct option
The bank reconciliation for Widgets Inc. included the following items: $30 bank service charge; NSF check of $275; bank error of $30; EFT collection from a customer for $2,335. Based on the information, Widgets Inc. will adjust cash by what amount? O $1,480 O $2,030 O $2,000 O $2,060
Part ii. Prepare the journal entries resulting from the bank reconciliation
PROBLEM NO. 2 Shown below is the bank reconciliation for ABC Company for November 2020: Balance per bank, Nov. 30, 2020 Add: Deposits in transit Total Less: Outstanding checks P150,000 24,000 174,000 P28,000 10.000 Bank credit recorded in error 38,000 P136,000 Cash balance per books, Nov. 30, 2020 The bank statement for December 2020 contains the following data: P110,000 Total deposits Total charges, including an NSF check of P8,000 and a service charge of P400 96,000 All outstanding checks on November 30, 2020, including the bank credit, were cleared in the bank in December 2020. There were outstanding checks of P30,000 and deposits in transit of P38,000 on December 31, 2020. Questions: Based on the above, answer the following: A. How much is the cash balance per bank on December 31, 2020? B. How much is the cash balance per books on December 31, 2020? C. The adjusted cash in bank balance as of December 31, 2020?
Based on the following information, what amount would be subtracted from the bank statement side of the bank reconciliation? ATM withdrawal $31; Outstanding checks $135; Interest $4; Deposit in-transit $87.Multiple Choice $139 $166 $87 $135 $31
How can I get the answer of this?
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