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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

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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Answer problems 2-12 and 2-13.
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
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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