Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was determined: a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000. b. Credit memo – ₱20,000 c. Debit memo – ₱15,000d. Deposits in transit – ₱75,000 e. Outstanding checks – ₱25,000 f. The disbursements per books are overstated by ₱45,000. g. The bank debits are understated by ₱40,000. How much is the adjusted cash balance per bank?
Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was determined: a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000. b. Credit memo – ₱20,000 c. Debit memo – ₱15,000d. Deposits in transit – ₱75,000 e. Outstanding checks – ₱25,000 f. The disbursements per books are overstated by ₱45,000. g. The bank debits are understated by ₱40,000. How much is the adjusted cash balance per bank?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was
determined:
a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000.
b. Credit memo – ₱20,000
c. Debit memo – ₱15,000d. Deposits in transit – ₱75,000
e. Outstanding checks – ₱25,000
f. The disbursements per books are overstated by ₱45,000.
g. The bank debits are understated by ₱40,000.
How much is the adjusted cash balance per bank?
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