theProblem 3-9 (PHILCPA Adapted)Humanizer Company provided the following information:2,600,000300,000( 100,000)31Balance per bank statement- May 31Deposits outstandingChecks outstanding0000Correct bank balance- May 312,800,0002,810,000Balance per book-May 31Bank service charge10,000)0000Correct book balance - May 312,800,00000June data are as follows:BankBook2,200,000. 2,500,0001,800,000Checks recordedDeposits recordedService charges recorded1,600,00050,000Note collected by bank, P500,000 plus interest 550,000NSF check returned with June 30 statement 100,0002,400,00000Balances2,100,00000001. What is the amount of outstanding checks on June 30?a. 300,000b. 400,000c. 200,000d. 100,000ted2. What is the amount of deposits in transit on June 30?a. 300,000b. 100,000c. 200,000d. 500,000с.3. What is the adjusted cash in bank on June 30?a. 2,500,000b. 2,400,000c. 2,100,000d. 2,800,000888

Bank reconciliation is performed to match the bank statements with the books and compute the correct…

Humanizer Company provided the following information: Balance per bank statement- May 31 Deposits outstanding Checks outstanding 2,600,000 300,000 (100,000) Correct bank balance- May 31 2,800,000 Balance per book-May 31 Bank service charge 2,810,000 10,000) Correct book balance- May 31 2,800,000 June data are as follows: Bank Book 2,500,000 1,800,000 2,200,000 1,600,000 50,000 Note collected by bank, P500,000 plus interest 550,000 NSF check returned with June 30 statement 100,000 2,400,000 Checks recorded Deposits recorded Service charges recorded Balances 2,100,000 1. What is the amount of outstanding checks on June 30? a. 300,000 b. 400,000 c. 200,000 d. 100,000 2. What is the amount of deposits in transit on June 30? a. 300,000 b. 100,000 c. 200,000 d. 500,000 3. What is the adjusted cash in bank on June 30? a. 2,500,000 b. 2,400,000 c. 2,100,000 d. 2,800,000

Humanizer Company provided the following information: Balance per bank statement- May 31 Deposits outstanding Checks outstanding 2,600,000 300,000 (100,000) Correct bank balance- May 31 2,800,000 Balance per book-May 31 Bank service charge 2,810,000 10,000) Correct book balance- May 31 2,800,000 June data are as follows: Bank Book 2,500,000 1,800,000 2,200,000 1,600,000 50,000 Note collected by bank, P500,000 plus interest 550,000 NSF check returned with June 30 statement 100,000 2,400,000 Checks recorded Deposits recorded Service charges recorded Balances 2,100,000 1. What is the amount of outstanding checks on June 30? a. 300,000 b. 400,000 c. 200,000 d. 100,000 2. What is the amount of deposits in transit on June 30? a. 300,000 b. 100,000 c. 200,000 d. 500,000 3. What is the adjusted cash in bank on June 30? a. 2,500,000 b. 2,400,000 c. 2,100,000 d. 2,800,000

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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