The following cash transactions occurred during the month of May: 青 Collection from customers: P50,000 in cash and P150,000 in checks. Payments for various expenses, P20,000 in cash and P10,000 in checks. Deposits to the bank P10,000 in cash, P100,000 in checks. What was the balance of the cash in bank account? O P140,000 P240,000 P100,000 O P110,000

The following cash transactions occurred during the month of May: 青 Collection from customers: P50,000 in cash and P150,000 in checks. Payments for various expenses, P20,000 in cash and P10,000 in checks. Deposits to the bank P10,000 in cash, P100,000 in checks. What was the balance of the cash in bank account? O P140,000 P240,000 P100,000 O P110,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
On December 10, you receive your bank statement showing a balance of $2,981.97. Your checkbook shows a balance of $2,782.86. Outstanding checks are $387.86 and $175.56. The account earned $122.85. Deposits in transit amount to $479.16, and there is a service charge of $8.00. Calculate the reconciled balance. O $199.11 $2,668.01 $2,897.71 O $4,024.55
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.
On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. $29.95 $943.80 O $1,003.70 O $1,108.88
BMI Inc's March 31 bank statement balance was $70,000. As of March 31, outstanding checks total $22,000 and deposits in transit total $15,000 and a bank service charge of $150. Assuming there are no other reconciling items, what was the March 31 cash balance on Trane's book? A.$77,00 B.$63,000 C.$70,000 D.$107,000
QuestionSteinert Company has the following items at year-end:Cash in bank £52,500Petty cash 850Commercial paper with maturity of 2 months 7,200Postdated checks 3,100What amount Steinert should report as cash and cash equivalents?
H7. What is ABC Company, Inc.'s cash balance as of March 31? Cash balance on depositor's books: $15,000 checks in circulation: $2,500 interest earned on account balance: $15 customer check returned for non-sufficient funds (“NSF”): $100 multiple choice a)$12,500 b)$14,885 c)$14,915 d)$17,385
A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading. hello, i am working on a Cash Book and did this as the entry for the statement above. would that be correct? if so can you explain how? cashbook DATE ACCOUNT TITLE DEBIT DATE ACCOUNT TITLE CREDIT 30-November-10 Accounts receivable $25000
Given the following information, determine the adjusted cash balance per books from the following information: a. Balance per books as of June 30, $8,600. b. Outstanding checks, $820. с NSF check returned with bank statement, $130. d. Deposit mailed the afternoon of June 30, $300. e Check printing charges, $30. Interest earned on checking account, $12. Adjusted cash balance per books $
MDB Company provided the following data pertaining to the cash transactions and bank account for the month of May: Cash balance per accounting record Cash balance per bank statement Bank service charge Bank Debit Memo Php 1,719,000 3,195,000 10,000 5,000 685,000 500,000 810,000 Outstanding checks Deposits made on May 30 and not yet reflected in the bank statement Collections made by the bank from a customer promissory note, the principal amount of Php800,000 with interest Check No. 1234 issued to a supplier entered in the accounting record as P210,000 but deducted in the bank statement at an erroneous amount of Customer check returned by the bank marked as NSF. No entry has been made to record the returned check 21,000 77,000 What is the adjusted cash in bank?
The following extract from the cash book of John for the month of January shows thecompany’s bank transactions:RM RM01 Jan Balance b/f 600 18 Jan Ali 14513 Jan Uno 224 28 Jan PBA 7231 Jan Latif 186 30 Jan TNB 10931 Jan Balance c/f 6841,010 1,010The company’s bank statement for the same period is as follows: Debit (RM) Credit (RM) Balance (RM)01 Jan Balance 63503 Jan Halim 35 60013 Jan Uno 224 82423 Jan Ali 145 67931 Jan Standing order 30 649Required:a. Prepare a corrected cash book using the information given above. b. Draw up a bank reconciliation statement.
What the answer for 2 and 4?