The company has an unadjusted book balance of P200,000.00. It has a deposit in transit worth P56,000.00 and outstanding check worth P12,000.00. The bank statement received from the bank shows that the interest income worth P37,000.00 was credited and the service charge of P19,000.00 was deducted. 1. How much is the unadjusted bank balance and how much is the adjusted balance for the period?
The company has an unadjusted book balance of P200,000.00. It has a deposit in transit worth P56,000.00 and outstanding check worth P12,000.00. The bank statement received from the bank shows that the interest income worth P37,000.00 was credited and the service charge of P19,000.00 was deducted. 1. How much is the unadjusted bank balance and how much is the adjusted balance for the period?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The company has an unadjusted book balance of P200,000.00. It has a deposit in transit worth P56,000.00 and outstanding check worth P12,000.00. The bank statement received from the bank shows that the interest income worth P37,000.00 was credited and the service charge of P19,000.00 was deducted.
1. How much is the unadjusted bank balance and how much is the adjusted balance for the period?
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