Brown Corporation shows its cash account balance of P525,000 before reconciliation. The bank statement does not include a deposit of P6,350 made on the last day of the month The bank statement shows a collection by the bank of P3,200 and a customer's check far P4,157 was returned because it was NSF.A check written for P480 was recorded as P840, and customer's check for P5,250 was recorded on the books as P7,250. 11. What should be the correct cash balance? a. 522, 403 b. 523, 253 c. 532, 403 d. 523, 353 12. Adjusting Entry to correct incorrectentry for check issued included a. Debit to Cash of 360
Brown Corporation shows its cash account balance of P525,000 before reconciliation. The bank statement does not include a deposit of P6,350 made on the last day of the month The bank statement shows a collection by the bank of P3,200 and a customer's check far P4,157 was returned because it was NSF.A check written for P480 was recorded as P840, and customer's check for P5,250 was recorded on the books as P7,250. 11. What should be the correct cash balance? a. 522, 403 b. 523, 253 c. 532, 403 d. 523, 353 12. Adjusting Entry to correct incorrectentry for check issued included a. Debit to Cash of 360
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:For nos. 11 to 13:
Brown Corporation shows its cash account balance of P525,000 before reconcliation. The
bank statement does not include a deposit of P6,350 made on the last day of the month
The bank statement shows a collection by the bank of P3,200 and a customer's check fr
P4,157 was returned because it was NSF. A check written for P480 was recorded as PB40,
and customer's check for P5,250 was recorded on the books as P7,250.
11. What should be the correct cash balance?
a. 522, 403
b. 523, 253
C. 532, 403
d. 523, 353
12. Adjusting Entry to correct incorrect entry for check issued included
a. Debit to Cash of 360
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