Balance per bank P2,225,000 Deposit in transit P1,500,000 Outstanding check P 425,000 Bank service charge for the month of December P 25,000 Customer's check returned by bank marked NSF P 250,000 Customer's note collected by bank Face, P1,000,000; Interest P100,000; Collection fee, P25,000 P1,075,000 What is the cash in bank to be shown in the December 31, 2010 statement of financial position? Answer: 3,300,000

Balance per bank P2,225,000 Deposit in transit P1,500,000 Outstanding check P 425,000 Bank service charge for the month of December P 25,000 Customer's check returned by bank marked NSF P 250,000 Customer's note collected by bank Face, P1,000,000; Interest P100,000; Collection fee, P25,000 P1,075,000 What is the cash in bank to be shown in the December 31, 2010 statement of financial position? Answer: 3,300,000

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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Adjusted cash balance?
What is the adjustment balance of cash in bank of Mickey Mouse Corporation in December 2020?
What is the cash balance per bank on June 30?
Proof of Cash Problems 1. Lazer Company 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: The month Deposits, including P200,000 note collected for Lazer Disbursements, including P140,000 NSF customer check And P10,000 service charge P3,000,000 400,000 What is the cash balance per book on July 31? What is the amount of cash receipts per book in July ? What is the amount of cash disbursements per book in July? 3,400,000 (900,000) P2,500,000 P9,000,000 7,000,000 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.
Choices are: a. 3,550,000 b. 3,660,000 c. 3,610,000 d. 3,655,000 Question: What amount was reported as unadjusted cash in bank balance per book? Show solution and explanation
The ending bank statement balance at November 30 is $6,850. The bank statement shows a service charge of $85, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2,350 and outstanding checks are $1,535. The balance per books at November 30 is $7,600. What is the adjusted bank balance at November 30? A. $8,415 B. $6,915 C. $6,850 D. $7,665
Subject:- accounting
What is the cash balance per books at November 30, 2021?
Review the information below: Cash balance per bank is $7,338. Bank service charge $40 Cash balance per book is $7,374 Deposits in transit $2,710 EFT $2,026 Outstanding checks $688 What is the adjusted balance for bank and books after reconciliation? $10,050 $10,048 $9,360 $9,400
Is this correct in preparing for a proof of cash?