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Problem 2. S Company prepared the following bank reconciliation on December 31, 2015: 3,000,000 Balance per bank statement Add: Deposit in transit 195,000 5,000 35,000 110,000 Checkbook printing charge Error made by bank NSF Check 345,000 3,345,000 Total Less: Outstanding check 100,000 Note collected by bank including 15,000 interest 215,000 315,000 Balance per book 3,030,000 The entity had cash on hand P500,000 and petty cash fund P50,000 on December 31, 2015. tWhat-emount-should-be-reported-es-eesh-in-benk-on-December-34-20457 2. What total amount of cash should be reported on December 31, 2015?

Problem 2. S Company prepared the following bank reconciliation on December 31, 2015: 3,000,000 Balance per bank statement Add: Deposit in transit 195,000 5,000 35,000 110,000 Checkbook printing charge Error made by bank NSF Check 345,000 3,345,000 Total Less: Outstanding check 100,000 Note collected by bank including 15,000 interest 215,000 315,000 Balance per book 3,030,000 The entity had cash on hand P500,000 and petty cash fund P50,000 on December 31, 2015. tWhat-emount-should-be-reported-es-eesh-in-benk-on-December-34-20457 2. What total amount of cash should be reported on December 31, 2015?

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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Problem 2. S Company prepared the following bank reconciliation on December 31, 2015: Balance per bank statement Add: Deposit in transit 3,000,000 Checkbook printing charge Error made by bank NSF Check 195,000 5,000 35,000 110,000 345,000 3,345,000 Total Less: Outstanding check Note collected by bank including 15,000 interest 100,000 215,000 315,000 Balance per book 3,030,000 The entity had cash on hand P500,000 and petty cash fund P50,000 on December 31, 2015. What-emount-should-be-reported-es-cash-in-benk-o-December-3t,201452 2. What total amount of cash should be reported on December 31, 2015?
Transcribed Image Text:Problem 2. S Company prepared the following bank reconciliation on December 31, 2015: Balance per bank statement Add: Deposit in transit 3,000,000 Checkbook printing charge Error made by bank NSF Check 195,000 5,000 35,000 110,000 345,000 3,345,000 Total Less: Outstanding check Note collected by bank including 15,000 interest 100,000 215,000 315,000 Balance per book 3,030,000 The entity had cash on hand P500,000 and petty cash fund P50,000 on December 31, 2015. What-emount-should-be-reported-es-cash-in-benk-o-December-3t,201452 2. What total amount of cash should be reported on December 31, 2015?
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