Problem 3: Tamia Company provided following information on December 31, 2023: Cash in bank per book Cash in bank per bank statement Deposit in transit Outstanding checks, including certified check of P200,000 Note collected by bank for Tamia, including interest of P100,000 Service charge for December DAIF checks of customers returned by bank Error in recording a check issued. Correct amount is 100,000 but recorded at 200,000 6,720,000 7,500,000 1,200,000 1,500,000 1,100,000 20,000 500,000 100,000 1,500,000 200,000 50,000 Deposit in another bank closed by BSP Currency and coins on hand Petty cash fund 5. What is the total cash in bank as of December 31, 2023? 6. What is the total "cash" to be reported as current asset on December 31, 2023?

Problem 3: Tamia Company provided following information on December 31, 2023: Cash in bank per book Cash in bank per bank statement Deposit in transit Outstanding checks, including certified check of P200,000 Note collected by bank for Tamia, including interest of P100,000 Service charge for December DAIF checks of customers returned by bank Error in recording a check issued. Correct amount is 100,000 but recorded at 200,000 6,720,000 7,500,000 1,200,000 1,500,000 1,100,000 20,000 500,000 100,000 1,500,000 200,000 50,000 Deposit in another bank closed by BSP Currency and coins on hand Petty cash fund 5. What is the total cash in bank as of December 31, 2023? 6. What is the total "cash" to be reported as current asset on December 31, 2023?

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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Part ii. Prepare the journal entries resulting from the bank reconciliation
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