Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PROBLEM 10. In connection with your examination, the Shadow Corporation presented to you the following information regarding its Cash in Bank account for the month
PROBLEM 10. In connection with your examination, the Shadow Corporation presented to you the following information regarding its Cash in Bank account for the month of June of the current year: May 1,250,000 1,251,000 June 1,350,000 1,051,000 1,300,000 153,000 BPI Checking Account balances per bank statement Cash in Bank balances per general ledger Bank charges Undeposited receipts - month end Outstanding checks - month end Erroneous bank credits Erroneous bank debits Collections by bank not recorded by Shadow Corporation No Sufficient Fund Check not entered in the books Customer's check deposited in May amounting to P 21,000 was erroneously entered in the books as P 12,000. This was corrected in June. 20. How much is the adjusted cash balance as of June 30? 200,000 150,000 45,000 20,000 125,000 17,000 30,000 150,000 75,000 110,000 PROBLEM 10. In connection with your examination, the Shadow Corporation presented to you the following information regarding its Cash in Bank account for the month of June of the current year: May 1,250,000 1,251,000 June 1,350,000 1,051,000 1,300,000 153,000 BPI Checking Account balances per bank statement Cash in Bank balances per general ledger Bank charges Undeposited receipts - month end Outstanding checks - month end Erroneous bank credits Erroneous bank debits Collections by bank not recorded by Shadow Corporation No Sufficient Fund Check not entered in the books Customer's check deposited in May amounting to P 21,000 was erroneously entered in the books as P 12,000. This was corrected in June. 20. How much is the adjusted cash balance as of June 30? 200,000 150,000 45,000 20,000 125,000 17,000 30,000 150,000 75,000 110,000
Step 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