Core Company provided the following data for the purpose of reconciling the cash balance per book with the cash balance per bank statement on December 31: Balance per book Balance per bank statement elle Anad Outstanding checks, including certified check of P100,000 Deposit in transit December NSF checks, of which P50,000 had been redeposited and cleared on December 27 Erroneous credit to Core's account, representing proceeds of loan granted to another company Proceeds of note collected by bank for Core, net of service charge of P20,000 a. 1,500,000 b. 1,400,000 c. 1,800,000 d. 1,450,000 850,000 2,000,000 500,000 200,000 no se bateq 150,000 b3dyum What amount should be reported as cash in bank at year-end? 300,000 750,000
Core Company provided the following data for the purpose of reconciling the cash balance per book with the cash balance per bank statement on December 31: Balance per book Balance per bank statement elle Anad Outstanding checks, including certified check of P100,000 Deposit in transit December NSF checks, of which P50,000 had been redeposited and cleared on December 27 Erroneous credit to Core's account, representing proceeds of loan granted to another company Proceeds of note collected by bank for Core, net of service charge of P20,000 a. 1,500,000 b. 1,400,000 c. 1,800,000 d. 1,450,000 850,000 2,000,000 500,000 200,000 no se bateq 150,000 b3dyum What amount should be reported as cash in bank at year-end? 300,000 750,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Answer problem 2-13

Transcribed Image Text:Problem 2-12 (AICPA Adapted)
inah
In preparing the bank reconciliation for the month of August,
Apex Company provided the following information:
Balance per bank statement
Deposit in transit
Return of customer check for insufficient fund
Outstanding checks
Bank service charge for August
000.378
What amount should be reported as adjusted cash in bank?
a. 1,855,000
b. 1,795,000
c. 1,785,000
d. 1,755,000
Problem 2-13 (IAA)
Core Company provided the following data for the purpose
of reconciling the cash balance per book with the cash balance
per bank statement on December 31:
Balance per book
Balance per bank statement 0 2001. Ins
Outstanding checks, including certified check of P100,000
Deposit in transit
December NSF checks, of which P50,000 had
been redeposited and cleared on December 27
Erroneous credit to Core's account, representing
proceeds of loan granted to another company
Proceeds of note collected by bank for Core,
net of service charge of P20,000
1003
a. 1,500,000
b. 1,400,000
1,805,000
325,000
60,000
275,000
10,000
c. 1,800,000
d. 1,450,000
betoger
850,000
2,000,000
500,000
200,000
150,000
What amount should be reported as cash in bank
at year-end?
300,000
750,000
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