Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need answer now for 26 and 27 please 2 3 4 5 6 71 89 10 11 12: 113 114 115 116 117 For
I need answer now for 26 and 27 please
2 3 4 5 6 71 89 10 11 12: 113 114 115 116 117 For No. 26 - 27 Iron Company has provided the following data in relation to its bank reconciliation for April 2019. MIDTERM EXAMINATION SUBJECT: INTERMEDIAE ACCOUNTING 1 COURSE, YEAR AND SECTION: BSACC 1-1 From March 31 bank reconciliation: Deposit in transit Outstanding checks P6,800 15,600 April 2019 data: Per Bank 296,560 190,400 (246,800) 80,000 (480) 319,680 Per Book 287,760 196,000 (244,000) Balance, March 31 Deposits reflected Checks reflected Note collected Service charge Balance, April 30 239,760 The checks reflected by the bank in April includes a P6,000 check drawn by Boron Company. a. 26. How much is Iron's deposits in transit at April 30? P12,400 b. P18,000 C. P1,200 d. P5,600 27. How much is Iron's outstanding checks at April 307 a. P27,600 b. P34,400 C. P18,800 d. P24,800
Step 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