Answered step by step
Verified Expert Solution
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
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
Get Instant Access with AI-Powered 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