8. Lazer Company had following bank reconciliation on June 30: Balance per bank statement, June 30 Deposit in transit Total 3,000,000 400,000 3,400,000 ( 900,000) 2,500,000 Outstanding checks Balance per book, June 30 The bank statement for the month of July showed the following: Deposits, including P200,000 note collected for Lazer 9,000,000 Disbursements, including P140,000 NSF customer check and P10,000 service charge 7,000,00 All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31. 1. What is the adjusted cash in bank on July 31? a. 2,500,000 b. 5,400,000 c. 2,900,000 d. 5,000,000 2. What is the cash balance per book on July 31? a. 5,400,000 b. 5,350,000 c. 5,550,000 d. 4,500,000 5. What is the amount of cash receipts per book in July? a. 9,400,000 b. 9,600,000 c. 8,600,000 17 | P age SAINT COLUMBAN COLLEGI Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799/2151800 | Fax No: 2141290 | Website: www.sccpag.edu ph | E-mail: sccpc1957@gmail.com d. 9,800,000 6. What is the amount of cash disbursements per book in July? a. 6,550,000 b. 6,700,000 c. 7,300,000 d. 6,850,000
8. Lazer Company had following bank reconciliation on June 30: Balance per bank statement, June 30 Deposit in transit Total 3,000,000 400,000 3,400,000 ( 900,000) 2,500,000 Outstanding checks Balance per book, June 30 The bank statement for the month of July showed the following: Deposits, including P200,000 note collected for Lazer 9,000,000 Disbursements, including P140,000 NSF customer check and P10,000 service charge 7,000,00 All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31. 1. What is the adjusted cash in bank on July 31? a. 2,500,000 b. 5,400,000 c. 2,900,000 d. 5,000,000 2. What is the cash balance per book on July 31? a. 5,400,000 b. 5,350,000 c. 5,550,000 d. 4,500,000 5. What is the amount of cash receipts per book in July? a. 9,400,000 b. 9,600,000 c. 8,600,000 17 | P age SAINT COLUMBAN COLLEGI Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799/2151800 | Fax No: 2141290 | Website: www.sccpag.edu ph | E-mail: sccpc1957@gmail.com d. 9,800,000 6. What is the amount of cash disbursements per book in July? a. 6,550,000 b. 6,700,000 c. 7,300,000 d. 6,850,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:8. Lazer Company had following bank reconciliation on June 30:
Balance per bank statement, June 30
Deposit in transit
Total
3,000,000
400,000
3,400,000
|( 900,000)
2,500,000
Outstanding checks
Balance per book, June 30
The bank statement for the month of July showed the following:
Deposits, including P200,000 note collected for
Lazer
9,000,000
Disbursements, including P140,000 NSF customer check and P10,000 service
charge
7,000,00
All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled
P600,000 and the deposit in transit amounted to P1,000,000 on July 31.
1. What is the adjusted cash in bank on July 31?
a. 2,500,000
b. 5,400,000
c. 2,900,000
d. 5,000,000
2. What is the cash balance per book on July 31?
a. 5,400,000
b. 5,350,000
c. 5,550,000
d. 4,500,000
5. What is the amount of cash receipts per book in July?
a. 9,400,000
b. 9,600,000
c. 8,600,000
17 | P age
SAINT COLUMBAN COLLEGE
Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City
Tel Nos: 2151799 /2151800 | Fax No: 2141290 | Website: www.sccpag.edu.ph | E-mail: sccpc1957@gmail.com
d. 9,800,000
6. What is the amount of cash disbursements per book in July?
a. 6,550,000
b. 6,700,000
c. 7,300,000
d. 6,850,000
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