Sternum Company's bank statement for the month of March included the following information: Ending balance, March 31 - P 28,046 Bank service charge for March - 130 Interest paid by bank to Sternum for March - 107 In company the bank statement to its own cash records, Sternum found the following: Deposits made but not yet recorded by the bank - P 3,689 Checks written and mailed but not yet recorded by the bank - 6,530 In addition, Sternum discovered that it had erroneously recorded a check for P46 that should hve been recorded for P64. What is Sternum's correct Cash balance at March 31? a. P 25,205 b. P 28,046 c. P 28,069 d. P 28,406
Sternum Company's bank statement for the month of March included the following information: Ending balance, March 31 - P 28,046 Bank service charge for March - 130 Interest paid by bank to Sternum for March - 107 In company the bank statement to its own cash records, Sternum found the following: Deposits made but not yet recorded by the bank - P 3,689 Checks written and mailed but not yet recorded by the bank - 6,530 In addition, Sternum discovered that it had erroneously recorded a check for P46 that should hve been recorded for P64. What is Sternum's correct Cash balance at March 31? a. P 25,205 b. P 28,046 c. P 28,069 d. P 28,406
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Sternum Company's bank statement for the month of March included the following information:
Ending balance, March 31 - P 28,046
Bank service charge for March - 130
Interest paid by bank to Sternum for March - 107
In company the bank statement to its own cash records, Sternum found the following:
Deposits made but not yet recorded by the bank - P 3,689
Checks written and mailed but not yet recorded by the bank - 6,530
In addition, Sternum discovered that it had erroneously recorded a check for P46 that should hve been recorded for P64. What is Sternum's correct Cash balance at March 31?
a. P 25,205
b. P 28,046
c. P 28,069
d. P 28,406
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education