Problem 2The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000.1. How much is the adjusted cash balance?2. How much is the unadjusted book balance? MapsProblem 2The company received the bank statement for the month with an unad-justed balance of P544,000. It includes a debit memo worth P29,000 anda credit memo for P100,000. The company observed that there is a depositin transit worth P20,000 and outstanding checks amounting to P34,000.1. How much is the adjusted cash balance?2. How much is the unadjusted book balance?

Ideally cash balance as per cash book and bank balance as per bank statement should tally or…

Problem 2 The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?

Problem 2 The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?

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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