Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you help me find the answer and solutions for this? Faye Company prepared the following bank reconciliation on June 30: Balance per bank 9.800,000

image text in transcribed

Can you help me find the answer and solutions for this?

  1. image text in transcribedimage text in transcribed
Faye Company prepared the following bank reconciliation on June 30: Balance per bank 9.800,000 Deposit in transit 400,000 Outstanding checks (1,400,000) Balance per book 8.800.000 There were total deposits of P6.500,000 and charges for disbursement of P9,000,000 for July per bank statement. All reconciliation items on June 30 cleared the bank on July 31, Checks outstanding amounted to P1,000,000 on July 31. What is the amount of cash disbursement per book in July?On June 30, 2020, the bank statement of Bacon Company had an ending balance of P 3,735,000. The following data were assembled in the course of reconciling the bank balance: . The bank erroneously credited Bacon Company for P 21,000 on June 22 . During the month, the bank charged back NSF checks amounting to P23,000 of which P 8,000 had been redeposited by June 25 . Collection for June 30 totaling P 103,000 was deposited the following month . Checks-outstanding on June 30 amounted to P302,000 . Note collected by the bank for Bacon Company was P80,000 and the corresponding bank charge was P 5,000 What is the unadjusted cash in bank per ledger on June 30,2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions