6. What is the balance per bank on July 31? a. 700,000 b. 550,000 c. 800,000 d. 950,000 7. What amount should be reported as cash in bank on July 31? a. 650,000 b. 920,000 c. 380,000 d. 970,000 8. What is the cash in bank balance per ledger on July 31?
Pearl Company maintains a checking account at the City Bank. The bank
provides a bank statement along with canceled checks on the last day
of each month. The July bank statement included the following
information:
Balance July 1 550,000
Deposits 1,800,000
Checks processed 1,400,000
Service charge 30,000
NSF check 120,000
Monthly loan payment deducted by bank from account 100,000
Deposits outstanding totaled P100,000 and all checks written by the
depositor were processed by the bank except for check of P150,000.
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A P200,000 July deposit from a credit customer was recorded as P20,000
debit cash and credit
A check correctly recorded by the entity as P30,000 disbursement was
incorrectly processed by the bank as P300,000 disbursement.
6. What is the balance per bank on July 31?
a. 700,000
b. 550,000
c. 800,000
d. 950,000
7. What amount should be reported as cash in bank on July 31?
a. 650,000
b. 920,000
c. 380,000
d. 970,000
8. What is the cash in bank balance per ledger on July 31?
a. 1,350,000
b. 1,170,000
c. 990,000
d. 890,000
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