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?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...

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