adjusting entries on July 31.Problem 3-2 (ACP)Required:600,000a Prepare banBalance per book October 31Receipts per book for November icollection frommcustomer. P100.000 reperded as P10.000)Disbureements per book for November(check for Pao0.000 in parment of accountrecorded as P30.000)Balance per bank statement November 30Deposit in transit October 31Outstanding checks November 30Bank recoipta for November including ansrroneous credit of PI00,000 which should havebeen credited to Beeline CompanyBank diabursements for November includingcheck of Beeline Company, P200,0002,200.000b. Prepare adju1,800,000930,000300,000400,0002,500,0001,970,000Required:Prepare bank reconciliation on October 31 and Novembe30, and adjuating entries on November 30.96

A bank reconciliation statement refers to a summary of the transactions that are used to match or…

Problem 3-2 (ACP) 600,000 Receipts per bok Noveber olecttion from ctomer. P100.000 ded as PI0.000) Daburements ner book for November (check for Pao0.000 is payment faconunt recorded as P30.000 Balance per bankatasement November 30 Deposit in teanait October 31 Balance per book October 31 2.200.00 1,800.00 930,000 300.000 400,000 Otanding heck November 30 Bank recripts for Novemberinclading an erroneous credit of P100.000 which should have been credited to Beeline Company Bank disbursmente for November including check of Beeline Company, P200,000 2,500,000 1,970,000 Required: Prepare bank reconciliation on October 31 and Novembe 30, and adjuating entries on November 30.

Problem 3-2 (ACP) 600,000 Receipts per bok Noveber olecttion from ctomer. P100.000 ded as PI0.000) Daburements ner book for November (check for Pao0.000 is payment faconunt recorded as P30.000 Balance per bankatasement November 30 Deposit in teanait October 31 Balance per book October 31 2.200.00 1,800.00 930,000 300.000 400,000 Otanding heck November 30 Bank recripts for Novemberinclading an erroneous credit of P100.000 which should have been credited to Beeline Company Bank disbursmente for November including check of Beeline Company, P200,000 2,500,000 1,970,000 Required: Prepare bank reconciliation on October 31 and Novembe 30, and adjuating entries on November 30.

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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