The following information is made available to you: Outstanding checks, end of the month Deposits in transit, end of the month Bank credit memo for note collected Bank service charges DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) Cash per general ledger, end of month Cash per bank statement, end of month Total receipts per books Total charges by bank 1. 2. 3. 4. January 2016 P65,000 54,500 123,500 3,250 25,000 (92,250) 13,500 February 2016 P43,000 44,700 98,800 4,650 19,000 82,800 156,250 805,350 647,700 837,000 598,000 What is the adjusted cash balance as of February 28, 2016? What is the adjusted amount of cash receipts during February? What is the adjusted amount of total disbursements during February? What is the adjusted cash balance as of January 31, 2016?

The following information is made available to you: Outstanding checks, end of the month Deposits in transit, end of the month Bank credit memo for note collected Bank service charges DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) Cash per general ledger, end of month Cash per bank statement, end of month Total receipts per books Total charges by bank 1. 2. 3. 4. January 2016 P65,000 54,500 123,500 3,250 25,000 (92,250) 13,500 February 2016 P43,000 44,700 98,800 4,650 19,000 82,800 156,250 805,350 647,700 837,000 598,000 What is the adjusted cash balance as of February 28, 2016? What is the adjusted amount of cash receipts during February? What is the adjusted amount of total disbursements during February? What is the adjusted cash balance as of January 31, 2016?

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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