ML company prepared the following bank reconciliation on December 31: Balance per bank statement 3,800,000 Add: Deposit in transit 135,000 Checkbook printing charge 15,000 Error made by ML in recording check issued in December 50,000 NSF check 100,000 300,000 Total 4,100,000 Less: Outstanding check 150,000 Note collected by bank including P30,000 interest 230,000 380,000 Balance per book P3,720,000 The entity had cash on hand P300,000 and petty cash fund P15,000 on December 31. What total amount of cash should be reported at year-end?
ML company prepared the following bank reconciliation on December 31:
Balance per bank statement 3,800,000
Add: Deposit in transit 135,000
Checkbook printing charge 15,000
Error made by ML in recording check
issued in December 50,000
NSF check 100,000 300,000
Total 4,100,000
Less: Outstanding check 150,000
Note collected by bank including
P30,000 interest 230,000 380,000
Balance per book P3,720,000
The entity had cash on hand P300,000 and petty cash fund P15,000 on December 31.
What total amount of cash should be reported at year-end?
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