Identify what reconciling item of the book or bank the following independent transaction. TRANSACTION RECONCILING ITEM ABC company deposited a check paid by the customer but was returned by the bank due 1. to the issuer's lack of funds. BOOK. P1,800 will be added to the books. ABC Company received P2, 000 from Romel. The bookkeeper recorded 2. the amount as P200. The deposits of ABC Company earned an 3. interest of P200 for the month. 4. The bank charges a fee for its services of P45. ABC Company received cash of P1, 450 on 5. March 31 and was recorded on the company's books. Due to an unforeseen event, the liaison officer was able to deposit the P1, 450 in the bank on April 1. ABC Company issued a check of P30, 000 to a 6. supplier. Supplier not yet deposited to the bank for payment. 7. ABC Company bank statement for the month of March shows that bank charges of P45 have been incorrectly recorded twice by the bank. The bank collected P40, 000 from the 8. BANK customer. P10,000 monthly payment for the PLDT bill directly charge out of the bank account of ABC Company 9. 10. ABC company bank account was deducted a monthly P6, 000 for the payment of its BOOK. company car loan.

Identify what reconciling item of the book or bank the following independent transaction. TRANSACTION RECONCILING ITEM ABC company deposited a check paid by the customer but was returned by the bank due 1. to the issuer's lack of funds. BOOK. P1,800 will be added to the books. ABC Company received P2, 000 from Romel. The bookkeeper recorded 2. the amount as P200. The deposits of ABC Company earned an 3. interest of P200 for the month. 4. The bank charges a fee for its services of P45. ABC Company received cash of P1, 450 on 5. March 31 and was recorded on the company's books. Due to an unforeseen event, the liaison officer was able to deposit the P1, 450 in the bank on April 1. ABC Company issued a check of P30, 000 to a 6. supplier. Supplier not yet deposited to the bank for payment. 7. ABC Company bank statement for the month of March shows that bank charges of P45 have been incorrectly recorded twice by the bank. The bank collected P40, 000 from the 8. BANK customer. P10,000 monthly payment for the PLDT bill directly charge out of the bank account of ABC Company 9. 10. ABC company bank account was deducted a monthly P6, 000 for the payment of its BOOK. company car loan.

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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please provide correct solution of this question
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