The following information were presented to you by Android Corporation in connection to your audit of its Cash in Bank account for the month of December 2020: A. Cash in bank account balances in company's books: November 30-P 1,876,500; December 31- P 1,576,500 B. Bank statement balances: November 30-P 1,875,000; December 31-P 2,025,000 C. Bank statement debits during December were P 1,950,000. D. Company collections not yet deposited to the bank: November 30-P 300,000; December 31 - P 229,500. E. Checks issued already credited in company's accounting books but not yet paid by the bank on November 30 were P 225,000. F. G. H. Bank credit errors: November 30-P 67,500; December 31-P 25,500. Bank debit errors: November 30-P 30,000; December 31-P 45,000. Bank credit memorandum indicating collection of notes receivable were P 187,500 in November and P 225,000 in December. I. Customer's NSF Check returned by bank were P 165,000 for November and P 112,500 for December. J. Customer's check amounting to P 31,500 was already deposited in November but recorded in the company's books as P 18,000. This was corrected in December.

The following information were presented to you by Android Corporation in connection to your audit of its Cash in Bank account for the month of December 2020: A. Cash in bank account balances in company's books: November 30-P 1,876,500; December 31- P 1,576,500 B. Bank statement balances: November 30-P 1,875,000; December 31-P 2,025,000 C. Bank statement debits during December were P 1,950,000. D. Company collections not yet deposited to the bank: November 30-P 300,000; December 31 - P 229,500. E. Checks issued already credited in company's accounting books but not yet paid by the bank on November 30 were P 225,000. F. G. H. Bank credit errors: November 30-P 67,500; December 31-P 25,500. Bank debit errors: November 30-P 30,000; December 31-P 45,000. Bank credit memorandum indicating collection of notes receivable were P 187,500 in November and P 225,000 in December. I. Customer's NSF Check returned by bank were P 165,000 for November and P 112,500 for December. J. Customer's check amounting to P 31,500 was already deposited in November but recorded in the company's books as P 18,000. This was corrected in December.

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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