Wealth Company had the following bank reconciliation at March 31, 2018: Balance per bank statement, Marc 31, 2014 46,500 Add: Deposit in transit 10,300 -------- Total 56,800 Less: Outstanding checks 12,600 -------- Balance per book, March 31, 2018 44,200 ===== The bank statement for April, 2018 shows deposits acknowledged by the bank amounting to P58,400 and checks paid amounting to P49,700. All reconciliation items at March 31, 2018 cleared through the bank in April. Outstanding checks at April 30, 2018 totaled P7,500. How much is the adjusted cash in bank balance as at April 30, 2018?
Wealth Company had the following bank reconciliation at March 31, 2018: Balance per bank statement, Marc 31, 2014 46,500 Add: Deposit in transit 10,300 -------- Total 56,800 Less: Outstanding checks 12,600 -------- Balance per book, March 31, 2018 44,200 ===== The bank statement for April, 2018 shows deposits acknowledged by the bank amounting to P58,400 and checks paid amounting to P49,700. All reconciliation items at March 31, 2018 cleared through the bank in April. Outstanding checks at April 30, 2018 totaled P7,500. How much is the adjusted cash in bank balance as at April 30, 2018?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wealth Company had the following bank reconciliation at March 31, 2018: Balance per bank statement, Marc 31, 2014 46,500 Add: Deposit in transit 10,300 -------- Total 56,800 Less: Outstanding checks 12,600 -------- Balance per book, March 31, 2018 44,200 ===== The bank statement for April, 2018 shows deposits acknowledged by the bank amounting to P58,400 and checks paid amounting to P49,700. All reconciliation items at March 31, 2018 cleared through the bank in April. Outstanding checks at April 30, 2018 totaled P7,500. How much is the adjusted cash in bank balance as at April 30, 2018?
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