What is the cash balance per books at November 30, 2021? PCC Corp. had the following bank reconciliation at October 31, 2021:Balance per bank statement, October 31, 2021P46,500Add: Deposit in transit10.300P56,800Less: Outstanding checks12,600Balance per book, October 31, 2021P44,200Data per bank statement for the month of November, 2021 follow:DepositsP58,400Disbursements49,700All reconciliation items at October 31, 2021 cleared through the bank in November. Outstanding checks at November 30,2021 totaled P7,500.

Ideally cash balance as per cash book and bank balance as per bank statement should reconcile with…

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Business

Accounting

What is the cash balance per books at November 30, 2021?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11EA: Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance:...

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Question

What is the cash balance per books at November 30, 2021?

PCC Corp. had the following bank reconciliation at October 31, 2021:
Balance per bank statement, October 31, 2021
P46,500
Add: Deposit in transit
10.300
P56,800
Less: Outstanding checks
12,600
Balance per book, October 31, 2021
P44,200
Data per bank statement for the month of November, 2021 follow:
Deposits
P58,400
Disbursements
49,700
All reconciliation items at October 31, 2021 cleared through the bank in November. Outstanding checks at November 30,
2021 totaled P7,500.

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