Problem 2-12 (AICPA Adapted)014) In preparing the bank reconciliation for the month of August, Apex Company provided the following information: Balance per bank statement Deposit in transit Return of customer check for insufficient fund Outstanding checks Bank service charge for August 000.ama What amount should be reported as adjusted cash in bank? 1,805,000 325,000 60,000 275,000 10,000
Problem 2-12 (AICPA Adapted)014) In preparing the bank reconciliation for the month of August, Apex Company provided the following information: Balance per bank statement Deposit in transit Return of customer check for insufficient fund Outstanding checks Bank service charge for August 000.ama What amount should be reported as adjusted cash in bank? 1,805,000 325,000 60,000 275,000 10,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Answer problems 2-12 and 2-13.
Transcribed Image Text:Problem 2-12 (AICPA Adapted)
inah
In preparing the bank reconciliation for the month of August,
Apex Company provided the following information:
Balance per bank statement
Deposit in transit
Return of customer check for insufficient fund
Outstanding checks
Bank service charge for August
000.378
What amount should be reported as adjusted cash in bank?
a. 1,855,000
b. 1,795,000
c. 1,785,000
d. 1,755,000
Problem 2-13 (IAA)
Core Company provided the following data for the purpose
of reconciling the cash balance per book with the cash balance
per bank statement on December 31:
Balance per book
Balance per bank statement 0 2001. Ins
Outstanding checks, including certified check of P100,000
Deposit in transit
December NSF checks, of which P50,000 had
been redeposited and cleared on December 27
Erroneous credit to Core's account, representing
proceeds of loan granted to another company
Proceeds of note collected by bank for Core,
net of service charge of P20,000
1003
a. 1,500,000
b. 1,400,000
1,805,000
325,000
60,000
275,000
10,000
c. 1,800,000
d. 1,450,000
betoger
850,000
2,000,000
500,000
200,000
150,000
What amount should be reported as cash in bank
at year-end?
300,000
750,000
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