Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer as much as possible thank you so much 10. Company B receives its bank statement for the month ending Dec. 31, 1999 on

Please answer as much as possible thank you so much

image text in transcribed

10. Company B receives its bank statement for the month ending Dec. 31, 1999 on Jan. 5, 2000. The bank statement shows a balance of P30,000. The cash account on Dec. 31, 1999 shows a credit balance of P3,000. In reconciling the balances, the auditor discovers the following: Receipts of Dec. 31, 1999 not deposited until Jan. 2, 2000 of P5,000 Bank service charges for Dec. 1999 of P1,000 A paid check for P2,000 was recorded in the cashbook as P20,000. Assuming no errors except as noted above, compute for the amount of the outstanding check

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

Students also viewed these Accounting questions

Question

1. Jacob is a natural leader.

Answered: 1 week ago