Bank reconciliation 2 On Oct. 31, 20x1, Dark Co.'s cash balance per records is P7,540, while the balance per bank statement is P.510. The following information is determined: A The bank statement reflects a P7N0 deposit that is not yet recorded in the books. The deposit pertains to a collection of note receivable with a principal balance of 700; the difference represents the interest on the note. b The bank statement also reflects a P25 withdrawal representing service charges for the month e Dark Co emoneously recorded a check drawn for P140 as NI0. The check, which is payment for an account payable, cleared the bank at the correct amount. d. Dark Co. erroneously recorded a P910 collection of an account receivable as P190. The bank statement reflects the correct amount of deposit APLS00 check deposit on Oct. 31 is not yet reflected in the bank statement. The following checks drawn by Dark Co. are not yet Presented to the bank for payment Check 7 075 for P325 Check 0 for P100, and Check 094 for P700 Repuirets onciliation for the month of October.

Bank reconciliation 2 On Oct. 31, 20x1, Dark Co.'s cash balance per records is P7,540, while the balance per bank statement is P.510. The following information is determined: A The bank statement reflects a P7N0 deposit that is not yet recorded in the books. The deposit pertains to a collection of note receivable with a principal balance of 700; the difference represents the interest on the note. b The bank statement also reflects a P25 withdrawal representing service charges for the month e Dark Co emoneously recorded a check drawn for P140 as NI0. The check, which is payment for an account payable, cleared the bank at the correct amount. d. Dark Co. erroneously recorded a P910 collection of an account receivable as P190. The bank statement reflects the correct amount of deposit APLS00 check deposit on Oct. 31 is not yet reflected in the bank statement. The following checks drawn by Dark Co. are not yet Presented to the bank for payment Check 7 075 for P325 Check 0 for P100, and Check 094 for P700 Repuirets onciliation for the month of October.

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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