Reconciliation of Jazz Company' bank account at May 31 of the current year is: Balance per bank statement 2,600,000 Deposits outstanding Bank service charges 300,000 10,000 Erroneous bank charge 40,000 ( 100,000) ( 60,000) ( 600,000) Outstanding checks Erroneous bank credit CM for collection of note Balance per book P 2,190,000 June data are as follows: Bank Вook Checks recorded P 2,200,000 P 2,500,000 Corrections of erroneous bank credit in May Deposits recorded Correction of erroneous bank charge Service charges recorded CM for collection by bank 60,000 1,600,000 1,800,000 40,000 50,000 550,000 600,000 NSF checks returned with June 30 statement (will be redeposited) 100,000

Reconciliation of Jazz Company' bank account at May 31 of the current year is: Balance per bank statement 2,600,000 Deposits outstanding Bank service charges 300,000 10,000 Erroneous bank charge 40,000 ( 100,000) ( 60,000) ( 600,000) Outstanding checks Erroneous bank credit CM for collection of note Balance per book P 2,190,000 June data are as follows: Bank Вook Checks recorded P 2,200,000 P 2,500,000 Corrections of erroneous bank credit in May Deposits recorded Correction of erroneous bank charge Service charges recorded CM for collection by bank 60,000 1,600,000 1,800,000 40,000 50,000 550,000 600,000 NSF checks returned with June 30 statement (will be redeposited) 100,000

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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The following data maybe few of your considerations to determine the beginning balance of the outstanding checks: total checks issued by the company 1,900,000; total bank debits P1,790,500; bank service charge for the current month P2,500; NSF check returned by the bank for the current month P40,000; Outstanding check at the end of the period is P222,000. Compute the outstanding check beginning of the period.
Use the following data to answer the below question. Required reserve $50 Checkable deposits $500 Savings Deposits $50 Excess reserves $180 Currency held by the public $160 The money multiplier is 1.69 The Fed conducts an open market purchase of $81. What will be the change in the money supply $ 136.89 answer? /Round to 2 decimal places/ What is the change in checkable deposits? 103.85 These are the correct answers and I know that 1.69 * $81 = $136.89, but I don't know how to get the 103.85 change in checkable deposits. Please help
Notes 2022 2021ASSETS Cash on hand 1,404,561 2,529,876Statutory deposits with Central Banks 7,508,221 7,045,773Due from banks 9,178,784 12,425,341Treasury Bills 8,400,605 4,934,664Advances 4 56,829,415 55,515,628Investment securities 5 19,953,780 19,259,501Investment interest receivable 203,693 205,204Investment in associated companies 6 62,603 55,961Premises and equipment 7 3,255,758 3,218,670Right-of-use assets 8 (a) 398,405 477,858Intangible assets 9 1,143,560 1,171,222Pension assets 10 (a) 1,200,717 1,415,216Deferred tax assets 11 (a) 316,556 246,214Taxation recoverable 49,290 72,817Other assets 12 1,071,755 594,950 TOTAL ASSETS 110,977,703 109,168,895 LIABILITIES AND EQUITYLIABILITIES Due to banks 445,410 155,985Customers’ current, savings and deposit accounts 13 87,586,189 86,609,634Other fund raising instruments 14 4,461,931 4,618,554Debt securities in issue 15 1,674,719 1,865,895Lease liabilities 8 (b) 420,088 482,867Pension liability 10 (a) 40 25,356Provision for…
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Correct answer is solution
43. Mars Company provided the following information in relation to the bank account: Balance per bank statement on May 31 6,200,000 Balance per ledger, May 31 3,750,000 Deposit of May 30 not recorded by the bank 1,400,000 Debit Memo-Service Charges 50,000 Credit Memo-collection of notes by the bank for Mars 1,500,000 Outstanding checks ? Check for the purchase of supplies was drawn for 300,000 but was recorded as 200,000. The management wrote a check for traveling expenses of 500,000 while out of town. The check was not recorded. What is the amount…
what am I missing for required A?
These are the answers to the solution manual: 24.P430,000 25.P350,000 26.P11,350 27.P836,350 28. P836,350 Are these really the correct answers? Please show the computation from 24-28 please, thank you!
please step by step solution.
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40-1 Which of the following transactions does the above record belong to ? a) Withdrawing a loan from the bank B) Getting a loan by endorsing the check NS) The endorsement of the received check against the bank loan debt D) Payment of checks received TO) Guaranteeing the received checks