Jungkook Inc. had the following bank reconciliation at March 31, 2020: Balance per bank statement, 3/31/20- P37,200 Deposit in transit- P10,300 Outstanding checks- P12,600 Balance per books, 3/31/20- P34,900 Data per bank for the month of April 2020 follow: Deposits- P46,700 Disbursements P49,700 All reconciling items at March 31, 2020 cleared the bank in April. Outstanding checks at April 30, 2020 totaled P6,000. There were no deposits in transit at April 30, 2020. What is the cash balance per books at April 30, 2020?

Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Answered: Jungkook Inc. had the following bank…

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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Jungkook Inc. had the following bank reconciliation at March 31, 2020:

Balance per bank statement, 3/31/20- P37,200

Deposit in transit- P10,300

Outstanding checks- P12,600

Balance per books, 3/31/20- P34,900

Data per bank for the month of April 2020 follow:

Deposits- P46,700

Disbursements P49,700

All reconciling items at March 31, 2020 cleared the bank in April. Outstanding checks at April 30, 2020 totaled P6,000. There were no deposits in transit at April 30, 2020. What is the cash balance per books at April 30, 2020?

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