Q1: How much is the unadjusted cash balance per transaction records?Q2: How much is the adjusted cash balance to ne reported on December 31, 2019? Problem 03ASPIRE Corporation was organized and began its operations on January1. 2019. The company failed to mantain a cash book and neds your help in determining its correct cash balance. Its records forthe first year of operations contains the following accounts and balances:Share Capital-ordinaryShare PremiumInventoryLandBuildingEquipmentPL.500,000150,00069,0001.000,000,1400 000367 000Accounts receivableAccounts payableLoan payableSalcsExpenses (including depreciation of400.000)P 165,400389,650500.0006,235 2001.005.150Additional information is as follows:1. Deposits in transit, December 312. Service charge for December3. Outstanding checks, December 314. Bank balance, December 315. The compay's gross profit räte is 30%P 384,6602.000475,000892 000

Cash book is maintained to record the cash receipts and cash disbursement during the period. The…

ASPIRE Corporation was organized and began its operations on January1 2019. The company failed to mantain a cash book and needs your help in determining its correct cash balance. Its records fo the first year of operations contains the following accounts and balances: Share Capital-ordinary Share Premium Land Inventory Building Equipment PL.500,000 150,000 69.000 1,000-000. 1:400 000 367 000 Accounts receivable Accounts payable Loan payable Sales Expenses (including depreciation of 400.000) P165,400 389,650 500.000 6,235 200 1005,150 Additional information is as follows: 1. Deposits in transit, December 31 2. Service charge for December 3. Outstanding checks, December 31 4. Bank balance, December 31 5. The company's gross profit rate is 30% P 384,660 2,000 475,000 892 000

ASPIRE Corporation was organized and began its operations on January1 2019. The company failed to mantain a cash book and needs your help in determining its correct cash balance. Its records fo the first year of operations contains the following accounts and balances: Share Capital-ordinary Share Premium Land Inventory Building Equipment PL.500,000 150,000 69.000 1,000-000. 1:400 000 367 000 Accounts receivable Accounts payable Loan payable Sales Expenses (including depreciation of 400.000) P165,400 389,650 500.000 6,235 200 1005,150 Additional information is as follows: 1. Deposits in transit, December 31 2. Service charge for December 3. Outstanding checks, December 31 4. Bank balance, December 31 5. The company's gross profit rate is 30% P 384,660 2,000 475,000 892 000

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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