The June disbursements of Lovely Company shows a total of P2,566,400. The following errors, however, were discovered relating to two checks issued by the company and cleared by the bank during the month of June. *Check #12345 was drawn for P32,300 but was erroneously recorded as P23,300. *Check #12543 was drawn for P20,000 but was erroneously recorded as P2,000. How much is the correct disbursements per books?
The June disbursements of Lovely Company shows a total of P2,566,400. The following errors, however, were discovered relating to two checks issued by the company and cleared by the bank during the month of June. *Check #12345 was drawn for P32,300 but was erroneously recorded as P23,300. *Check #12543 was drawn for P20,000 but was erroneously recorded as P2,000. How much is the correct disbursements per books?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The June disbursements of Lovely Company shows a total of P2,566,400. The following errors, however, were discovered relating to two checks issued by the company and cleared by the bank during the month of June.
*Check #12345 was drawn for P32,300 but was erroneously recorded as P23,300.
*Check #12543 was drawn for P20,000 but was erroneously recorded as P2,000.
How much is the correct disbursements per books?
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