9-6. Listed below are eight interbank cash transfers for SPF Co., indicated by the letters a through h, for late December 2018 and early January 2019. Disbursing Bank (Month/Day) Receiving Bank (Month/Day) Per Bank Per Books Атоunt Per Books 12/29 Per Bank 12/29 1/02 1/04 P104,000 32,000 48,000 88,000 12/29 12/29 a. 12/31 12/30 12/30 12/31 12/31 b. 1/02 1/02 с. 1/02 12/31 d. 1/04
9-6. Listed below are eight interbank cash transfers for SPF Co., indicated by the letters a through h, for late December 2018 and early January 2019. Disbursing Bank (Month/Day) Receiving Bank (Month/Day) Per Bank Per Books Атоunt Per Books 12/29 Per Bank 12/29 1/02 1/04 P104,000 32,000 48,000 88,000 12/29 12/29 a. 12/31 12/30 12/30 12/31 12/31 b. 1/02 1/02 с. 1/02 12/31 d. 1/04
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please complete the table. Answer what is asked. Thank you.
Transcribed Image Text:9-6.
Listed below are eight interbank cash transfers for SPF Co., indicated by
the letters a through h, for late December 2018 and early January 2019.
Disbursing Bank
(Month/Day)
Receiving Bank
(Month/Day)
Per Bank
Per Books
Per Bank
Per Books
Атоunt
12/29
12/29
12/29
12/29
P104,000
32,000
48,000
88,000
a.
12/30
12/31
12/31
1/02
b.
1/02
12/30
1/04
1/02
с.
d.
1/04
12/31
1/02
12/31
Transcribed Image Text:Disbursing Bank
(Month/Day)
Receiving Bank
(Month/Day)
Per Books
1/01
12/31
1/02
1/03
Атоunt
31,200
152,000
84,000
20,000
Per Books
1/01
Per Bank
1/03
Per Bank
e.
1/04
f.
1/02
1/01
12/31
1/03
1/02
12/31
g.
h.
12/31
1/03
12/30
For each of transfers a through h (1) indicate whether cash is understated,
overstated, or correct as a result; and (2) provide a brief example of what
could cause the situation. Answer in a form such as the one illustrated
here.
Understated,
Overstated, or
Transfer
Example
The transfer was recorded in the
a check written on the
Correct
a.
Correct
Book entries:
accounting records as
disbursing bank on December 29 and a corresponding
cash receipt recorded to receiving bank on that date.
Bank entries: The check was taken to the receiving
bank on December 29 and deposited. The accounts
are both in the same bank, and accordingly the
transaction was recorded in both accounts as of that
date.
b.
h.
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