ROBLEM 1BABY Corporation provided the following information:Balance per book, August 31 P2,000,000Receipts per book for August 4,400,000Disbursements per book for August 3,600,000Balance per bank, August 31 1,860,000Bank receipts for August 5,000,000Bank disbursements for August 3,940,000August collection of P200,000 recorded by the entity as 20,000August check in payment of account payable for P600,000 recorded by the entity as 60,000Deposit of BABE Corporat
PROBLEM 1
BABY Corporation provided the following information:
Balance per book, August 31 P2,000,000
Receipts per book for August 4,400,000
Disbursements per book for August 3,600,000
Balance per bank, August 31 1,860,000
Bank receipts for August 5,000,000
Bank disbursements for August 3,940,000
August collection of P200,000 recorded by the entity as 20,000
August check in payment of account payable for P600,000 recorded by the entity as 60,000
Deposit of BABE Corporation erroneously credited by bank to BABY Corporation 200,000
August check of BABE Corporation erroneously charged by bank to BABY Corporation 400,000
NSF Check:
July 100,000
August 50,000
Note collected by bank for BABY Corporation:
July 200,000
August 300,000
Deposit in transit:
July 31 600,000
August 31 480,000
Outstanding checks
July 31 100,000
August 31 650,000
Requirement:
Prepare a proof of cash for the month of August.
Step by step
Solved in 2 steps with 1 images
