Problem 3-13 (AICPA Adapted) Opaque Company prepared the following bank reconciliation on March 31: Balance per bank statement, March 31 Deposit in transit 4,650,000 1,000,000 Total Outstanding checks Balance per book, March 31 5,650,000 (1,250,000) 4,400,000 Data per bank statement for the month of April follow: Deposits Disbursements 6,000,000 5,000,000 All reconciliation items on March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. 1. What is the adjusted cash in bank on April 30? a. 5,650,000 b. 7,150,000 c. 4,650,000 d. 6,400,000 2. What is the cash balance per ledger on April 30? а. 6,400,000 b. 5,650,000 c. 4,900,000 d. 4,650,000 3 What is the amount of cash receipts per book in April? а. 5,000,000 b. 6,500,000 c. 7,500,000 d. 5,500,000 4. 'What is the amount of cash disbursements per book in April? a. 5.000,000

Problem 3-13 (AICPA Adapted) Opaque Company prepared the following bank reconciliation on March 31: Balance per bank statement, March 31 Deposit in transit 4,650,000 1,000,000 Total Outstanding checks Balance per book, March 31 5,650,000 (1,250,000) 4,400,000 Data per bank statement for the month of April follow: Deposits Disbursements 6,000,000 5,000,000 All reconciliation items on March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. 1. What is the adjusted cash in bank on April 30? a. 5,650,000 b. 7,150,000 c. 4,650,000 d. 6,400,000 2. What is the cash balance per ledger on April 30? а. 6,400,000 b. 5,650,000 c. 4,900,000 d. 4,650,000 3 What is the amount of cash receipts per book in April? а. 5,000,000 b. 6,500,000 c. 7,500,000 d. 5,500,000 4. 'What is the amount of cash disbursements per book in April? a. 5.000,000

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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