Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ASAP in hv only 30 mins It will be appraised. 1. Asuna Company provided the following information: P150,000 80,000 2,000 10,000 90,000 5,000 Balance per
ASAP in hv only 30 mins It will be appraised.
1. "Asuna" Company provided the following information: P150,000 80,000 2,000 10,000 90,000 5,000 Balance per books, August 31 Deposits in transit Bank service charge Check written and recorded on August 31 but was mailed on September 5 (included in outstanding checks) Outstanding checks Draw against insufficient fund (DAIF) checks Proceeds of customer's note collected by the bank: Principal Interest Bank charges Customer's check recorded as receipt on August 25 (dated September 5) included in the deposit in transit Certified checks Creditor's check written and recorded August 15 but dated September 23 (included in outstanding checks) Balance per bank statement P50,000 2,500 (500) 52,000 10,000 15,000 5,000 190,000 What is the adjusted cash balance on August 31? a. P210,000 b. P200,000 c. P205,000 d. P215,000Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started