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BOC Corporation showed a cash account balance of 5,000,000 on December 31, 2017. The bank statement showed a collection by the bank amounting to P100,000
BOC Corporation showed a cash account balance of 5,000,000 on December 31, 2017. The bank statement showed a collection by the bank amounting to P100,000 for the depositor and a customer check amounting to P50,000 returned because it was marked as NSF. The bank statement did not also include a deposit of P250,000. In addition, there was customer check amounting to P45,000 that was recorded by the depositor as P54,000. Further, there was a check written for P79,000 which was recorded as P97,000. What amount should be reported by the company as adjusted cash balance
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