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Please answer the following and show your complete solutions: information: - The cash balance per book on June 30 is P4,500,000. - A deposit of
Please answer the following and show your complete solutions:
information: - The cash balance per book on June 30 is P4,500,000. - A deposit of P1,000,000 that was placed in the bank's night depository on June 30 does not appear on the bank statement. - The bank statement shows on June 30 that the bank collected note for Crown Co. and credited the proceeds of P950,000 to the company's account. - Checks outstanding on June 30 amount to P300,000. - Crown discovered that a check written in June for P200,000 in payment for an account payable, had been recorded in the Company's records as P20,000. - Included in the June bank statement was NSF check for P250,000 that Crown has received from a customer on June 26. - The bank statement shows a P20,000 service charge for June. How much is the correct cash in bank balance to be shown in the statement of financial position on June 30,2020 ? \begin{tabular}{l} P5,150,000 \\ P5,000,000 \\ \hline P5,500,000 \\ \hline P5,020,000 \end{tabular} P5,150,000 P5,000,000 P5,500,000 P5,020,000 Question 34 Using the same information in Problem 3, how much is the unadjusted cash balance per bank? P4,300,000 P5,000,000 P4,700,000 P4,000,000 Problem 5 due January 1, 2023 but interests are due annually every December 31 . The prevailing interest rate for this type of note is 12%. How much is the present value of the note to be recorded on January 1,2020? P2,495,615 P2,483,681 Question 37 2 pts Using the same information in Problem 5, how much is the interest income in 2022? P342,506 P337,500 Question 38 2 pts Using the same information in Problem 5, except that the interest is payable semiannually on June 30 and December 31 , how much is the interest income in 2022 ? P331,071.43 P 342,506.23Step by Step Solution
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