Cash Receipts

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
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Problem 5 Basics of Proof of Cash
Data regarding the cash in bank for the current year of Launch Attack Company follow:
Jan.31
Feb.28
Cash per Ledger
250,000
290,000
Cash receipts for February
300,000
Unadjusted bank statement
248,100
282,400
Bank Disbursements
269,600
46
Overstatement of customer's checks per books
4,000
3,000
Overstatement of company's checks per books
300
900
Erroneous bank credit
5,000
4,000
Erroneous bank charge
3,200
9,500
Required: Compute for the adjusted balance of the following:
2. Cash Receipts
Transcribed Image Text:Problem 5 Basics of Proof of Cash Data regarding the cash in bank for the current year of Launch Attack Company follow: Jan.31 Feb.28 Cash per Ledger 250,000 290,000 Cash receipts for February 300,000 Unadjusted bank statement 248,100 282,400 Bank Disbursements 269,600 46 Overstatement of customer's checks per books 4,000 3,000 Overstatement of company's checks per books 300 900 Erroneous bank credit 5,000 4,000 Erroneous bank charge 3,200 9,500 Required: Compute for the adjusted balance of the following: 2. Cash Receipts
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