The following information pertains to Fish Cake Company on December 31, 2021: Bank statement balance- P5,000,000; Checkbook balance- P5,600,000; Deposit in transit- P2,000,000; Outstanding checks, including P100,000 certified check- P500,000. In Fish Cake's December 31, 2021 statement of financial position, cash should be reported at: * O O P7,200,000 O P6,600,000 O P7,100,000 O P6,500,000

The following information pertains to Fish Cake Company on December 31, 2021: Bank statement balance- P5,000,000; Checkbook balance- P5,600,000; Deposit in transit- P2,000,000; Outstanding checks, including P100,000 certified check- P500,000. In Fish Cake's December 31, 2021 statement of financial position, cash should be reported at: * O O P7,200,000 O P6,600,000 O P7,100,000 O P6,500,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter8: Sarbanes-oxley, Internal Control, And Cash

Section: Chapter Questions

Problem 18E

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The following information pertains to Fish Cake Company on December 31, 2021: Bank statement balance- P5,000,000; Checkbook balance- P5,600,000; Deposit in transit- P2,000,000; Outstanding checks, including P100,000 certified check- P500,000. In Fish Cake’s December 31, 2021 statement of financial position, cash should be reported at: a. P6,500,000 b. P7,100,000 c. P6,600,000 d. P7,200,000
The following information pertains to Fish Cake Company on December 31, 2021: Bank statement balance- P5,000,000; Checkbook balance- P5,600,000; Deposit in transit- P2,000,000; Outstanding checks, including P100,000 certified check- P500,000. In Fish Cake’s December 31, 2021 statement of financial position, cash should be reported at:Required to answer. Single choice.
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In connection with your examination, the Caliao Company presented to you the following information regarding its Cash in Bank account for the month of December 2020: A. Balances per bank statements: November 30, P215,600 and December, P230,400. B. Balances of cash in bank account in company's books: November 30, P165,450 and December 31, P226,800. C. Total receipts per book were P2,221,900 of which P12,100 was paid in cash to a creditor on December 24. D. Total charges in the bank statement during December were P2,189,700. E. Undeposited receipts were: November 30, P90 600 and December 31, P101,200. F. Outstanding checks were: November 30, P26,750 and December 31, P19,300, of which a check for P5,000 was certified by the bank on December 26. G. NSF checks returned, recorded as reduction of cash receipts were: Returned by bank on December and recorded also in December P10,400. Returned by bank on December but recorded also in January P8,600. H. Collections by bank not recorded by…
In connection with your examination, the Caliao Company presented to you the following information regarding its Cash in Bank account for the month of December 2020: A. Balances per bank statements: November 30, P215,600 and December, P230,400. B. Balances of cash in bank account in company’s books: November 30, P165,450 and December 31, P226,800. C. Total receipts per book were P2,221,900 of which P12,100 was paid in cash to a creditor on December 24. D. Total charges in the bank statement during December were P2,189,700. E. Undeposited receipts were: November 30, P90 600 and December 31, P101,200. F. Outstanding checks were: November 30, P26,750 and December 31, P19,300, of which a check for P5,000 was certified by the bank on December 26. G. NSF checks returned, recorded as reduction of cash receipts were:  Returned by bank on December and recorded also in December P10,400.  Returned by bank on December but recorded also in January P8,600. H. Collections by bank not recorded by…
In connection with your examination, the Caliao Company presented to you the following information regarding its Cash in Bank account for the month of December 2020: A. Balances per bank statements: November 30, P215,600 and December, P230,400. B. Balances of cash in bank account in company’s books: November 30, P165,450 and December 31, P226,800. C. Total receipts per book were P2,221,900 of which P12,100 was paid in cash to a creditor on December 24. D. Total charges in the bank statement during December were P2,189,700. E. Undeposited receipts were: November 30, P90 600 and December 31, P101,200. F. Outstanding checks were: November 30, P26,750 and December 31, P19,300, of which a check for P5,000 was certified by the bank on December 26. G. NSF checks returned, recorded as reduction of cash receipts were:  Returned by bank on December and recorded also in December P10,400.  Returned by bank on December but recorded also in January P8,600. H. Collections by bank not recorded by…