Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a proof of cash Jet. The Illustration 2: Reconstruction of information ABC Co. had the following bank reconciliation on May 31, 20x1: at DITT:
Prepare a proof of cash
Jet. The Illustration 2: Reconstruction of information ABC Co. had the following bank reconciliation on May 31, 20x1: at DITT: Balance per bank statement - May 31 Add: Deposits in transit - May Less: Outstanding checks - May Adjusted balance (equal to cash bal. per books) - May 31 100,000 64,000 (12,000) 152,000 The bank statement for the month of June 20x1 shows the following: 124 Chapter 3 Deposits Disbursements 120,000 90,000 All reconciling items in May cleared the bank in June. There are no reconciling items on June 30 other than for a deposit in transit of P30,000Step 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