Problem I Jane Company provided the following information at month-end: Cash in bank per bank statement Deposit in transit Outstanding checks, including certified check of P200,000 Amount erroneously credited by bank to Jane's account Note collected by bank for Jane Company, including interest of P100,000 Service charge for the current month NSF checks of customers returned by bank Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book Saving deposit in other bank closed by BSP Currency and coins on hand Petty cash fund 8,000,000 1,200,000 1,500,000 150,000 1,100,000 20,000 500,000 100,000 1,000,000 900,000 50,000

Problem I Jane Company provided the following information at month-end: Cash in bank per bank statement Deposit in transit Outstanding checks, including certified check of P200,000 Amount erroneously credited by bank to Jane's account Note collected by bank for Jane Company, including interest of P100,000 Service charge for the current month NSF checks of customers returned by bank Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book Saving deposit in other bank closed by BSP Currency and coins on hand Petty cash fund 8,000,000 1,200,000 1,500,000 150,000 1,100,000 20,000 500,000 100,000 1,000,000 900,000 50,000

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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Singleako Company has the following data for the Month of December. November 30 December 31 Cash in bank Account Statement 2,032,000 3,160,000 Bank Statement 1,890,000 2,900,000 Bank Debits 1,080,000 Bank Credits ? Book Debits ? Book Credits 1,440,000 Outstanding Checks Deposit in Transit Check erroneously charged by the bank against Entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by the entity when Placed with bank for collection 180,000 592,000 80,000 498,000 40,000 50,000 2,000 4,000 (Note is actually collected by the bank in subsequent Month and credited by bank to entity's account in same Month) 200,000 300,000 Required: Prepare four-column reconciliation showing the adjusted balances. Prepare adjusting entry/ies.
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Want Answer
A customer in a bank has made a balance withdrawal transaction in the last 30 days. In the last 28 days, the customer routinely made cash withdrawals of $100000. In the last two days, this customer made a withdrawal amounting to$7500000 and $5000000. Based on the transaction data, which value is the most appropriate to describe the central tendency of the distribution of customer cash withdrawal data? a) $510000 b) $100000 c) $275000 d) $426000