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In preparing its August 31, 2020 bank reconciliation, Jade Company has available the following information:   Balance per bank statement, 8/31/2020 — P180,500 Deposit in transit,8/31/2020 — P32,500 Return of costumer's NSF check, 8/31/2020 — P6,000 Outstanding checks, 8/31/2020 — P27,500 Bank service charges for August — P1,000   At August 31, 2020, Jade Company's correct cash balance is? (with solution) a. P192,500 b. P185,500 c. P179,500 d. P178,500

In preparing its August 31, 2020 bank reconciliation, Jade Company has available the following information:   Balance per bank statement, 8/31/2020 — P180,500 Deposit in transit,8/31/2020 — P32,500 Return of costumer's NSF check, 8/31/2020 — P6,000 Outstanding checks, 8/31/2020 — P27,500 Bank service charges for August — P1,000   At August 31, 2020, Jade Company's correct cash balance is? (with solution) a. P192,500 b. P185,500 c. P179,500 d. P178,500

FINANCIAL ACCOUNTING
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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MC37

In preparing its August 31, 2020 bank reconciliation, Jade Company has available the following information:

 

Balance per bank statement, 8/31/2020 — P180,500

Deposit in transit,8/31/2020 — P32,500

Return of costumer's NSF check, 8/31/2020 — P6,000

Outstanding checks, 8/31/2020 — P27,500

Bank service charges for August — P1,000

 

At August 31, 2020, Jade Company's correct cash balance is? (with solution)

a. P192,500

b. P185,500

c. P179,500

d. P178,500

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