Problem 3-9 (PHILCPA Adapted) Humanizer Company provided the following information: Balance per bank statement - May 31 Deposits outstanding Checks outstanding 2,600,000 300,000 100,000) Correct bank balance - May 31 2,800,000 Balance per book-May 31 Bank service charge 2,810,000 10,000) Correct book balance - May 31 2,800,000 June data are as follows: Bank Вook Checks recorded 2,500,000 1,800,000 2,200,000 1,600,000 50,000 Note collected by bank, P500,000 plus interest 550,000 NSF check returned with June 30 statement 100,000 2,400,000 Deposits recorded Service charges recorded Balances 2,100,000 1. What is the amount of outstanding checks on June 30? а. 300,000 b. 400,000 c. 200,000 d. 100,000 2. What is the amount of deposits in transit on June 30? a. 300,000 b. 100,000 c. 200,000 d. 500,000 3. What is the adjusted cash in bank on June 30? a. 2,500,000 b. 2,400,000 c. 2,100,000 d. 2,800,000
Problem 3-9 (PHILCPA Adapted) Humanizer Company provided the following information: Balance per bank statement - May 31 Deposits outstanding Checks outstanding 2,600,000 300,000 100,000) Correct bank balance - May 31 2,800,000 Balance per book-May 31 Bank service charge 2,810,000 10,000) Correct book balance - May 31 2,800,000 June data are as follows: Bank Вook Checks recorded 2,500,000 1,800,000 2,200,000 1,600,000 50,000 Note collected by bank, P500,000 plus interest 550,000 NSF check returned with June 30 statement 100,000 2,400,000 Deposits recorded Service charges recorded Balances 2,100,000 1. What is the amount of outstanding checks on June 30? а. 300,000 b. 400,000 c. 200,000 d. 100,000 2. What is the amount of deposits in transit on June 30? a. 300,000 b. 100,000 c. 200,000 d. 500,000 3. What is the adjusted cash in bank on June 30? a. 2,500,000 b. 2,400,000 c. 2,100,000 d. 2,800,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Problem 3-9 (PHILCPA Adapted)
Humanizer Company provided the following information:
Balance per bank statement - May 31
Deposits outstanding
Checks outstanding
2,600,000
300,000
100,000)
Correct bank balance -May 31
2,800,000
Balance per book - May 31
Bank service charge
2,810,000
10,000)
Correct book balance - May 31
2,800,000
June data are as follows:
Bank
Вook
Checks recorded
Deposits recorded
Service charges recorded
Note collected by bank, P500,000 plus interest 550,000
NSF check returned with June 30 statement 100,000
Balances
2,200,000
1,600,000
50,000
2,500,000
1,800,000
2,400,000
2,100,000
1. What is the amount of outstanding checks on June 30?
а. 300,000
b. 400,000
с. 200,000
d. 100,000
2. What is the amount of deposits in transit on June 30?
а. 300,000
b. 100,000
с. 200,000
d. 500,000
3. What is the adjusted cash in bank on June 30?
а. 2,500,000
b. 2,400,000
с. 2,100,000
d. 2,800,000
103
cs](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47ba8ab8-8ee9-4c19-9b13-480b1c70a3ff%2F321a5070-7150-405e-aa82-6ab3c4172821%2Frjq4kx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 3-9 (PHILCPA Adapted)
Humanizer Company provided the following information:
Balance per bank statement - May 31
Deposits outstanding
Checks outstanding
2,600,000
300,000
100,000)
Correct bank balance -May 31
2,800,000
Balance per book - May 31
Bank service charge
2,810,000
10,000)
Correct book balance - May 31
2,800,000
June data are as follows:
Bank
Вook
Checks recorded
Deposits recorded
Service charges recorded
Note collected by bank, P500,000 plus interest 550,000
NSF check returned with June 30 statement 100,000
Balances
2,200,000
1,600,000
50,000
2,500,000
1,800,000
2,400,000
2,100,000
1. What is the amount of outstanding checks on June 30?
а. 300,000
b. 400,000
с. 200,000
d. 100,000
2. What is the amount of deposits in transit on June 30?
а. 300,000
b. 100,000
с. 200,000
d. 500,000
3. What is the adjusted cash in bank on June 30?
а. 2,500,000
b. 2,400,000
с. 2,100,000
d. 2,800,000
103
cs
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