Epsilon Corporation has unadjusted cash in bank balances of P1,000,000 and P900,000 at the beginning
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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
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Q: as of December 31, showed a balance of P71,364. Additional information that might be useful in…
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A:
Q: The following information are available for ABC Corp at Dec 31: Cash in BDO, P100,000 (compensating…
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- "3D Company" has the following balances: Cash in Bank – Saving account at bank of $102,000. Petty cash of $4,000, Post-dated checks of $18,000, Travel advances of $14,000, and Certificates of deposit of $560,000. In “3D Company" statement of financial position, how much should be reported cash and cash equivalent? a. $680,000. b. $138,000. c. $124,000. d. $106,000.Sheridan Company owns the following assets at the balance sheet date: Cash in bank-savings account $5,600 Cash on hand 840 Cash refund due from the Canada Revenue Agency 1,100 Cash in bank-chequing account 6,500 Stale-dated cheques from customers 250 Postdated cheques from customers 500 60-day treasury bill 10,000 What amount should be reported as cash and cash equivalents in the balance sheet? Cash and cash equivalents A IThe following details are found in the incomplete bank reconciliation statement of Phillip Company for the month ended September 30, 2021: Notes payable charged by the bank- 150,000 Service Charge- 35,000 Deposits in Transit- 250,000 Outstanding Checks- 350,000 Balance per bank statement- 325,000 Deposit erroneously recorded by Phillip as 37,500 instead of 57,800 What is the reconciled cash to be reported by Phillip Company?
- RM Inc. had the following bank reconciliation on August 31, 2021: Balance per bank statement, 8/31 Add: Deposits in transit P5,400,000 600,000 6,000,000 1,350,000 P4,650,000 Less: Outstanding checks Balance per books, 8/31 Data per bank for the month of September 2021 follow: Deposits (including P300,000 note collected for RM) Disbursements (including P210,000 NSF check and P15,000 service charge) P13,500,000 10,500,000 All reconciling items on August 31, 2021 cleared the bank in September. Outstanding checks on September 30 totaled P900,000. There deposits in transit amounted to P1,500,000 on September 30. What is the amount of cash disbursements per book in September?48. The following information pertains to Papaya Company on December 31, 2020: Bank statement balance- P5,000,000; Checkbook balance- P5,600,000; Deposit in transit- P2,000,000; Outstanding checks, including P100,000 certified check- P500,000. In Papaya's December 31, 2020 statement of financial position, cash should be reported at: A. P6,500,000 B. P6,600,000 C. P7,100,000 D. P7,200,000Nn.185. Subject :- ACCOUTN
- Prepare a bank reconciliation statementThe books of Cajardo Service, Inc. disclosed a cash balance of P687,570 on December 31, 2010. The bank statement as of December 31 showed a balance of P547,800. Additional information that might be useful in reconciling the two balances follows: A. Check No. 748 for P30,000 was originally recorded on the books as P45,000. B. A customer's note dated September 25 was discounted on October 12. The note was dishonored on December 29, the note's maturity date. The bank charged Cajardo's account for P142,650, including a protest fee of P2,650. C. The deposit of December 24 was recorded on the books as P28,950 but it was actually a deposit of P27,000. D. Outstanding checks totaled P98,850 as of December 31. E. There was a bank service charge for December of P2,100 not yet recorded on the books. F. Cajardo's account had been charged on December 26 for a customer's NSF check for P12,960. G. Cajardo properly deposited P6,000 on December 3 that was not recorded by the bank. H. Receipts of…The cash account of SWITZER ltd. reported a balance of $2,500 at August 31,2020. Included were the outstanding cheques totalling $900 and on August 31 deposit of $500 that did not appear on the bank statement. The bank statement, which came from HSBC bank, listed on August 31,2020, balance of $3,405. Included in the bank balance was on August 30 collection of $550 on account from a customer who pays the bank directly. The bank statement also shows a $20 service charge, $10 of interest revenue that SWITZER earned on its bank balance and an NSF cheque for $35. Make the company’s journal entries for transactions that arise from the bank reconciliation. Include an explanation with each entry.
- The cash account in Cake Company's ledger on December 31, 2023 showed a balance of P5,250,000 which included the following: Petty cash fund-P50,000 Undeposited receipts, including a postdated customer check of P100,000-P1,400,000 Cash in bank-P1,300,000 Cash in sinking fund-P500,000 Vouchers paid out of collections, not yet recorded-P250,000 IOUS signed by employees-P150,000 What total amount should be reported as cash in the December 31, 2023 statement of financial position?Sunland's Sweet Shop's August 31 bank balance was $11,127. The company's cash balance at August 31 was $10,805. Other information follows: Outstanding cheques were #421 for $157, #485 for $257, #492 for $167, and #494 for $1,157. Cheque #421 was also outstanding on July 31 and was included on July's bank reconciliation. 1. Included with the statement were EFT deposits totalling $1,727 during August in payment of accounts receivable. These deposits have not been recorded by the company. 2. Cheque #490 was correctly written and paid by the bank for $206. The cheque had been issued to pay accounts payable and the company had recorded it as $266. 3. 4. The bank statement showed a cheque #4832 for $787, which did not appear on the company's books. Investigation revealed that the cheque was actually issued by Wally's Water Works and was charged to Sunland's Sweet Shop's account in error. 5. The bank returned an NSF cheque from a customer for $377. The bank statement showed two debit…The bank reconciliation statement shows a debit balance of RM2,470 as per the cash book, unpresented cheque amounting to RM858, and a credit balance of RM1,198 as per the bank statement. What is the amount of the deposits not yet credited ? O RM2,810 O RM2,130 O RM4,526 O RM414