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Please answer as much as possible thank you so much 5. John Paul Company banks with World Bank and prepares a reconciliation of the bank
Please answer as much as possible thank you so much
5. John Paul Company banks with World Bank and prepares a reconciliation of the bank and book balances on a regular basis. The April 31, 2013 reconciliation shows a balance per bank of P581,050, balance per books of P627,000, outstanding checks of P84,300, deposit in transit of P120,000, interest earned on the bank balance of P1,250, and service charges of P400. Included in the bank statement was a cancelled check that the company failed to record. The check was in payment of bank loan. Determine the amount of unrecorded check issued by the company in payment of bank loan. Mahi Yan, the owner of Ever Loyal Corp. spilled ink on the company's December 31, 2013 bank reconciliation. The latest statement of account from Bank Crupt showed an ending balance of P38,520. According to the company's accountant, there were only three recon- ciling items on the statement she prepared: Deposit in transit (DIT) of P17.150, a bank Further, the Bookkeeper discovered that cash sale of P52,000 was recorded in the books as P25,000. Check in payment to a supplier for P145,000 was taken up as P14,500. Compute the adjusted cash balance per books that should be reported in the December 31, 2013 balance sheet
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