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CPA Company provided the following information: Reconciling items: Undeposited collections Outstanding checks Customer's notes collected by bank Bank service charges Erroneous bank debits Erroneous bank credits NSF checks not redeposited Customers check deposited December 10, 30-Nov 31-Dec 200,000 120,000 80,000 60,000 100,000 120,000 2,000 3,000 10,000 20,000 40,000 5,000 30,000 7,000

CPA Company provided the following information: Reconciling items: Undeposited collections Outstanding checks Customer's notes collected by bank Bank service charges Erroneous bank debits Erroneous bank credits NSF checks not redeposited Customers check deposited December 10, 30-Nov 31-Dec 200,000 120,000 80,000 60,000 100,000 120,000 2,000 3,000 10,000 20,000 40,000 5,000 30,000 7,000

FINANCIAL ACCOUNTING
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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CPA Company provided the following information: Reconciling items: Undeposited collections Outstanding checks Customer's notes collected by bank Bank service charges Erroneous bank debits 30-Nov 31-Dec 200,000 120,000 80,000 60,000 100,000 120,000 2,000 3,000 10,000 20,000 Erroneous bank credits 40,000 30,000 7,000 NSF checks not redeposited Customers check deposited December 10, returned by bank on December 16 marked NSF, and redeposited immediately; no entry made on books for return or redeposit 5,000 10,000 Unadjusted balances: Вooks ? 90,000 Bank 230,000 ? Bank Вooks December Transactions: Receipts Disbursements 420,000 270,000 500,000 407,000 How much is the adjusted Bank /Book receipts as of December 31, 2021?
Transcribed Image Text:CPA Company provided the following information: Reconciling items: Undeposited collections Outstanding checks Customer's notes collected by bank Bank service charges Erroneous bank debits 30-Nov 31-Dec 200,000 120,000 80,000 60,000 100,000 120,000 2,000 3,000 10,000 20,000 Erroneous bank credits 40,000 30,000 7,000 NSF checks not redeposited Customers check deposited December 10, returned by bank on December 16 marked NSF, and redeposited immediately; no entry made on books for return or redeposit 5,000 10,000 Unadjusted balances: Вooks ? 90,000 Bank 230,000 ? Bank Вooks December Transactions: Receipts Disbursements 420,000 270,000 500,000 407,000 How much is the adjusted Bank /Book receipts as of December 31, 2021?
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