Valdez Company prepared the following bank reconciliations on March 31: Balance per bank statement. March 31 Deposit in transit Total 4,650,000 1,000,000 5,650,000 Outstanding checks Balance per book, March 31 Data per bank statement for the month of April follow: Deposits (1,250,000) 4,400,000 6,000,000 Disbursements 5,000,000 All reconciliation items in March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. What is the adjusted cash in bank on April 30?

Valdez Company prepared the following bank reconciliations on March 31: Balance per bank statement. March 31 Deposit in transit Total 4,650,000 1,000,000 5,650,000 Outstanding checks Balance per book, March 31 Data per bank statement for the month of April follow: Deposits (1,250,000) 4,400,000 6,000,000 Disbursements 5,000,000 All reconciliation items in March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. What is the adjusted cash in bank on April 30?

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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