Grass Company provided the following information: Balance per ledger, July 31 Balance per bank statement, July 31 Deposit of July 30 not recorded by bank Debit memo-service charge Credit memo-collection of note by bank for Grass Outstanding checks An analysis of the canceled checks returned with the bank statement revealed the following: * Check for purchase of supplies was drawn for P60,000 but was recorded by Grass Company as P90,000. 750,000 1,240,000 280,000 10,000 300,000 550,000 The manager of Grass Company wrote a check for traveling expenses of P100,000 while out of town. The check was not recorded. Tipoggy What amount of cash in bank should be reported on July 31? 000,008.6 000.788 d 000.088 a. 970,000 b. 270,000 c. 550,000 d. 610,000 Problem 2-19 (IAA) -Saldo Gallant Company showed a cash account balance of P4,500,000 at the month-end. The bank statement did not include a deposit of P230,000 made on the last day of the month. The bank statement showed a collection of a note receivable by the bank of P94,000 for the depositor and a customer check for P32,000 returned because it was NSF. don tud pottery. A customer check for P45,000 was recorded by the depositor as P54,000 and a check written for P79,000 was recorded as P97,000. What amount should be reported as cash in bank? SIG a. 4,765,000 b. 4,571,000 c. 4.819,000 d. 4,801,000 000,00 % 8 000.091.8 d 000,045 000,008 S
Grass Company provided the following information: Balance per ledger, July 31 Balance per bank statement, July 31 Deposit of July 30 not recorded by bank Debit memo-service charge Credit memo-collection of note by bank for Grass Outstanding checks An analysis of the canceled checks returned with the bank statement revealed the following: * Check for purchase of supplies was drawn for P60,000 but was recorded by Grass Company as P90,000. 750,000 1,240,000 280,000 10,000 300,000 550,000 The manager of Grass Company wrote a check for traveling expenses of P100,000 while out of town. The check was not recorded. Tipoggy What amount of cash in bank should be reported on July 31? 000,008.6 000.788 d 000.088 a. 970,000 b. 270,000 c. 550,000 d. 610,000 Problem 2-19 (IAA) -Saldo Gallant Company showed a cash account balance of P4,500,000 at the month-end. The bank statement did not include a deposit of P230,000 made on the last day of the month. The bank statement showed a collection of a note receivable by the bank of P94,000 for the depositor and a customer check for P32,000 returned because it was NSF. don tud pottery. A customer check for P45,000 was recorded by the depositor as P54,000 and a check written for P79,000 was recorded as P97,000. What amount should be reported as cash in bank? SIG a. 4,765,000 b. 4,571,000 c. 4.819,000 d. 4,801,000 000,00 % 8 000.091.8 d 000,045 000,008 S
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Answer problems 2-18 and 2-19.
Transcribed Image Text:Problem 2-18 (IAA)
Grass Company provided the following information:
Balance per ledger, July 31
Balance per bank statement, July 31
Deposit of July 30 not recorded by bank
Debit memo-service charge
(AA) 1-sidor
Credit memo-collection of note by bank for Grass
Outstanding checks
*
750,000
1,240,000
280,000
An analysis of the canceled checks returned with the bank
statement revealed the following:
10,000
300,000
550,000
Check for purchase of supplies was drawn for P60,000
but was recorded by Grass Company as P90,000.
a. 970,000
b. 270,000
c. 550,000
d. 610,000
The manager of Grass Company wrote a check for
traveling expenses of P100,000 while out of town. The
check was not recorded.
Tariego
What amount of cash in bank should be reported on July 31?
Problem 2-19 (IAA)
AD FT-Smaldor
Gallant Company showed a cash account balance of P4,500,000
at the month-end.
The bank statement did not include a deposit of P230,000 made
on the last day of the month.
The bank statement showed a collection of a note receivable by
the bank of P94,000 for the depositor and a customer check for
P32,000 returned because it was NSF.on tudottw.
A customer check for P45,000 was recorded by the depositor as
P54,000 and a check written for P79,000 was recorded as
P97,000.
What amount should be reported as cash in bank?
a. 4,765,000
b. 4,571,000
c. 4.819,000
d. 4,801,000
000,000 &#
000,045
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