Jakarta Company provided the following information at month-end: Cash in bank per bank statement P8,000,000 Deposit in transit P1,200,000 Outstanding checks, including a certified check of P200,000 P1,500,000 Amount erroneously credited by the bank to the entity's account P150,000 Note collected by the bank for the entity, including interest of P100,000 P1,100,000 Service charge for the current month P20,000 NSF checks of customers returned by bank P 500,000 Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book P100,000. Other related information: Saving deposit in other bank closed by BSP P1,000,000 Currency and coins on hand P900,000 Petty cash fund P50,000 Requirement: How much is the adjusted cash in bank at month-end?
Jakarta Company provided the following information at month-end:
Cash in bank per bank statement P8,000,000
Deposit in transit P1,200,000
Outstanding checks, including a certified check of P200,000 P1,500,000
Amount erroneously credited by the bank to the entity's account P150,000
Note collected by the bank for the entity, including interest of P100,000 P1,100,000
Service charge for the current month P20,000
NSF checks of customers returned by bank P 500,000
Error in recording a check in the book.
The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book P100,000.
Other related information:
Saving deposit in other bank closed by BSP P1,000,000
Currency and coins on hand P900,000
Petty cash fund P50,000
Requirement:
How much is the adjusted cash in bank at month-end?
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