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1. The October bank statement reported an ending balance of P890,000. Presented in the bank statement are a P35,000 bank service charge and a P130,000
1. The October bank statement reported an ending balance of P890,000. Presented in the bank statement are a P35,000 bank service charge and a P130,000 collection of a note by the bank. Additionally, there is an erroneous credit of P20,000. The depositor determined that outstanding checks total P88.000 and deposits in transit amount to P124,000. What is the adjusted book balance? 2. The adjusted cash in bank balance of ABC Corporation is P2,480,000. Reconciling items for the month included the following: (A) Debit memo - P45,000. (B) Credit memo- P800,000. (C) Outstanding checks - P530,000. (D) Deposit in transit - P260,000. What is the unadjusted cash in bank per books? 3. ABC Corporation recorded debits of P2,500,000 and credits of P2,450,000 in the Cash in Bank account during the month of September. The beginning balance was P300,000. Among the transactions recorded in the books was a credit memo of P150,000 and debit memo of P20,000 from August. The September bank statement received on October 5 showed that the bank collected P50,000 from a customer on behalf of the corporation and charged P3,000 for its services. What is the correct amount of cash receipts during September 4. The book debits and credits of the Cash in Bank - DBO checking account of Gamma Corporation are P4.800,000 and P5,200,000. Its ending balance is P900,000. The prior month's bank statement showed collection of company notes receivables by the bank in the amount of P500,000, a bank service charge of P20,000, and an NSF check debit of P200,000. This month's bank statement included a transfer of P600,000 from a matured time deposit, P30,000 bank service charge, and an erroneous bank debit of P100,000 from a check issued by Gammo. What is the correct cash disbursement amount for the month? 5. The following are for classification into the Trade and Other Receivable under the Current Assets as of Dec. 31, 2019. (A) Claims against a bankrupt courier, the settlement of which will extend beyond 2021 - P200,000. (B) Receivable from credit customers, net of P1,000 overpayment deemed immaterial - P1,549,000. (C) Subscription Receivables due Dec. 31, 2020 - P3,000,000. (D) Advances to Affiliates - P400,000. (E) Advances to suppliers - P100,000. How much should be included
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