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hello, I was absent on the day my professor discussed these examples and now I can't understand how he came up with these answers. Can

hello, I was absent on the day my professor discussed these examples and now I can't understand how he came up with these answers. Can you please explain it to me?

Lovable Company prepared the following bank reconciliation on June 30:

Balance per bank statement, June 30

3,000,000

Deposit in transit

400,000

Total

3,400,000

Outstanding checks

(900,000)

Balance per book, June 30

2,500,000

The bank statement for the month of July showed the following:

Deposits, including note collected for Lovable

9,000,000

Disbursements, p 140,000 NSF Check and P 10,000 service charge

7,000,000

All reconciling items on June 30 cleared through the bank in July.

The outstanding checks totaled P 600,000 and the deposit in transit amounted to P 1,000,000 on July 31.

QUESTIONS:

1.What is the adjusted cash in bank on July 31?

A.P 5,000,000

B.P 5,200,000

C.P 5,500,000

D.P 5,400,000

2.What is the cash balance per book on July 31?

A.P 5,400,000

B.P 5,350,000

C.P 5,550,000

D.P 4,500,000

3.What is the amount of cash receipts per book in July 31?

A.P 9,400,000

B.P 9,600,000

C.P 8,600,000

D.P 9,800,000

4.What is the amount of cash disbursements per books in July?

A.P 6,550,000

B.P 6,700,000

C.P 7,300,000

D.P 6,850,000

Loquacious 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 P 6,500,000 and charges for disbursements of P 9,000,000 for July per bank statements.

All reconciliation items on June 30 cleared the bank on July 31. Deposit in transit totaled P 600,000 and checks outstanding amounted to P 1,000,000 on July 31.

QUESTIONS:

1.What is the adjusted cash in bank on July 31?

A.P 7,300,000

B.P 7,900,000

C.P 6,900,000

D.P 6,300,000

2.What is the cash balance per book on July 31?

A.P 6,900,000

B.P 7,300,000

C.P 6,300,000

D.P 8,800,000

3.What is the amount of cash receipts per book in July?

A.P 6,700,000

B.P 6,500,000

C.P 6,300,000

D.P 7,100,000

4.What is the amount of cash disbursements per book in July?

A.P 8,600,000

B.P 7,600,000

C.P 9,400,000

D.P 8,400,000

Opaque Company prepared the following bank reconciliation on March 31:

Balance per bank statement, March 31

4,650,000

Deposit in transit

1,000,000

Total

5,650,000

Outstanding checks

(1,250,000)

Balance per book, March 31

4,400,000

Data per bank statement for the month of April follow:

Deposit

6,900,000

Disbursements

5,00,000

All reconciliation items on March 31 cleared through the bank in April.

Outstanding checks on April 30 totaled P 750,000 and deposits in transit amounted to P 1,500,000.

Questions:

1.What is the adjusted cash in bank on April 30?

A.P 5,650,000

B.P 7,150,000

C.P 4,650,000

D.P 6,400,000

2.What is the cash balance per ledger on April 30?

A.P 6,400,000

B.P 5,650,000

C.P 4,900,000

D.P 4,650,000

3.What is the amount of cash receipts per book in April?

A.P 5,000,000

B.P 6,500,000

C.P 7,500,000

D.P 5,500,000

4.What is the amount of cash disbursement per book in April?

A.P 5,000,000

B.P 5,500,000

C.P 4,500,000

D.P 5,750,000

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