Financial Accounting-w/cd-package
3rd Edition
ISBN: 9780131060876
Author: REIMERS
Publisher: PEARSON
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Chapter 2, Problem 9SEA
To determine
Explain the manner in which these
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How much were the cash disbursement per books in June?In connection with your examination, the ABC Company presented to you the following information regarding its Cash in Bank account for the month of June of the current year:
• Balance per bank statements: May 31, P1,250,000, and June 30, P1,350,000.
• Balances of cash in bank account in companys books: Moy 31, P1,251,000, and June 30, P1,051,000.
• Total charges in the bank statement during June were Pl,300,000.
• Undeposited receipts were: May 31, P200,000 and June 30, 53,000.
• Outstanding checks as of Moy 31, P150,000.
• Erroneous bank credits were: May 31, P45,000 and June 30, P17,000. • Erroneous bank charges were: May 31, P20,000 and June 30, P30,000.
• Collections by bank not recorded by Company were P125,000 in May and P150,000 in June.
• NSF not entered in company's books were: May 31, P110,000 and June 30, P75,000.
• Customer's check deposited in May amounting to P21,000 was erroneoushy entered in the books as P12,000.…
Answer full question.
On July 31, 2020, Concord Company had a cash balance per books of $6,043.75. The statement from Dakota State Bank on that date
showed a balance of $7,738.05. A comparison of the bank statement with the Cash account revealed the following facts.
1.
2.
3.
4.
5.
6.
The bank service charge for July was $25.
The bank collected $1,680 for Keeds Company through electronic funds transfer.
The July 31 receipts of $1,225.50 were not included in the bank deposits for July. These receipts were deposited by the
company in a night deposit vault on July 31.
Company check No. 2480 issued to L. Taylor, a creditor, for $361 that cleared the bank in July was incorrectly entered as a
cash payment on July 10 for $316.
Checks outstanding on July 31 totaled $1,888.80.
On July 31, the bank statement showed an NSF charge of $579 for a check received by the company from W. Krueger, a
customer, on account.
Chapter 2 Solutions
Financial Accounting-w/cd-package
Ch. 2 - Prob. 1YTCh. 2 - Prob. 2YTCh. 2 - Is prepaid insurance an expense or an asset?...Ch. 2 - Prob. 4YTCh. 2 - Give an example of the matching principle from the...Ch. 2 - What is the difference between cash basis and...Ch. 2 - Prob. 7YTCh. 2 - What is GAAP? What is IFRS?Ch. 2 - Prob. 2QCh. 2 - Prob. 3Q
Ch. 2 - Prob. 4QCh. 2 - Prob. 5QCh. 2 - What are the four basic financial statements?Ch. 2 - Which financial statement pertains to a single...Ch. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10QCh. 2 - Prob. 11QCh. 2 - Prob. 12QCh. 2 - What does recognize revenue mean in accounting?Ch. 2 - Prob. 14QCh. 2 - What is an accrual? What is a deferral?Ch. 2 - Must a company collect the money from a sale...Ch. 2 - What is the cost of goods sold?Ch. 2 - Explain the difference between cash basis...Ch. 2 - Prob. 19QCh. 2 - Prob. 20QCh. 2 - Prob. 21QCh. 2 - Prob. 1MCQCh. 2 - Prob. 2MCQCh. 2 - Prob. 3MCQCh. 2 - Prob. 4MCQCh. 2 - Prob. 5MCQCh. 2 - Prob. 6MCQCh. 2 - Prob. 7MCQCh. 2 - Prob. 8MCQCh. 2 - Prob. 9MCQCh. 2 - Prob. 10MCQCh. 2 - Elements of the financial statements. (LO 3). For...Ch. 2 - Prob. 2SEACh. 2 - Prob. 3SEACh. 2 - Prob. 4SEACh. 2 - Prob. 5SEACh. 2 - Prob. 6SEACh. 2 - Cash versus credit sales. (LO 3, 4). Company A had...Ch. 2 - Prob. 8SEACh. 2 - Prob. 9SEACh. 2 - Prob. 10SEACh. 2 - Prob. 11SEBCh. 2 - Prob. 12SEBCh. 2 - Prob. 13SEBCh. 2 - Prob. 14SEBCh. 2 - Prob. 15SEBCh. 2 - Prob. 16SEBCh. 2 - Prob. 17SEBCh. 2 - Prob. 18SEBCh. 2 - Prob. 19SEBCh. 2 - Prob. 20SEBCh. 2 - Prob. 21EACh. 2 - Prob. 22EACh. 2 - Prob. 23EACh. 2 - Balance sheet and income statement transactions....Ch. 2 - Prob. 25EACh. 2 - Prob. 26EACh. 2 - Prob. 27EACh. 2 - Prob. 28EACh. 2 - Elements of the financial statements. (LO 3). The...Ch. 2 - Prob. 30EBCh. 2 - Elements of the financial statements. (LO 3)....Ch. 2 - Prob. 32EBCh. 2 - Prob. 33EBCh. 2 - Prob. 34EBCh. 2 - Prob. 35EBCh. 2 - Current ratio. (LO 5). The following data was...Ch. 2 - Prob. 37PACh. 2 - Prob. 38PACh. 2 - Prob. 39PACh. 2 - Prob. 40PACh. 2 - Prob. 41PACh. 2 - Prob. 42PBCh. 2 - Prob. 43PBCh. 2 - Prob. 44PBCh. 2 - Prob. 45PBCh. 2 - Prob. 46PBCh. 2 - Prob. 1FSACh. 2 - Prob. 2FSACh. 2 - Prob. 3FSA
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