In conducting your audit of Black Company's cash in bank, you noted the following. Checks and charges recorded by bank in June (including a June service change of P 300), P 172,100. Service charge made by bank in May and recorded on the books in June, P 200: Total of credits to cash in a journals during June, P 198,020, Customer's NSF check returned in May and redeposited in June (no entry made on books in either May or June). P 2.500; Outstanding checks at June P80,800 and deposit in transit in June. P 6,000. What were the total outstanding checks at the beginning of June?

In conducting your audit of Black Company's cash in bank, you noted the following. Checks and charges recorded by bank in June (including a June service change of P 300), P 172,100. Service charge made by bank in May and recorded on the books in June, P 200: Total of credits to cash in a journals during June, P 198,020, Customer's NSF check returned in May and redeposited in June (no entry made on books in either May or June). P 2.500; Outstanding checks at June P80,800 and deposit in transit in June. P 6,000. What were the total outstanding checks at the beginning of June?

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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