Aljon Co. had the following bank reconciliation on June 30: Balance per bank statement, June 30 3,000,000 Deposit in transit 400,000 Total 3,400,000 Outstanding checks (900,000) Balance per book, June 30 2,500,000 The bank statement for the month of July showed the following: Deposits, including P200,000 note collected for Aljon 9,000,000 Disbursements, including P140,000 NSF customer check And P10,000 service charge All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in transit amounte P1,000,000 on July 31. 7,000,000 1. What is adjusted cash in bank on July 31? 2. What is the cash balance per book on July 31? 3. What is the amount of cash receipts per book in July? 4. What is the amount of cash disbursements per book in July?
Aljon Co. had the following bank reconciliation on June 30: Balance per bank statement, June 30 3,000,000 Deposit in transit 400,000 Total 3,400,000 Outstanding checks (900,000) Balance per book, June 30 2,500,000 The bank statement for the month of July showed the following: Deposits, including P200,000 note collected for Aljon 9,000,000 Disbursements, including P140,000 NSF customer check And P10,000 service charge All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in transit amounte P1,000,000 on July 31. 7,000,000 1. What is adjusted cash in bank on July 31? 2. What is the cash balance per book on July 31? 3. What is the amount of cash receipts per book in July? 4. What is the amount of cash disbursements per book in July?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:PROBLEM #7
Aljon Co. had the following bank reconciliation on June 30:
Balance per bank statement, June 30
Deposit in transit
Total
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 Aljon
Disbursements, including P140,000 NSF customer check
And P10,000 service charge
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.
3,000,000
400,000
3,400,000
(900,000)
2,500,000
9,000,000
7,000,000
1. What is adjusted cash in bank on July 31?
2. What is the cash balance per book on July 31?
3.
What is the amount of cash receipts per book in July?
4. What is the amount of cash disbursements per book in July?
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