Bigotry Company provided the following information: Balance per book, August 31 Receipts per book for August...
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Bigotry Company provided the following information: Balance per book, August 31 Receipts per book for August Disbursements per book for August 2,000,000 4,400,000 3,600,000 1,860,000 Balance per bank, August 31. Bank receipts for August Bank disbursements for August 5,000,000 3,940,000 August collection of P200,000 recorded by entity as August check in payment of account 20,000 payable for P600,000 recorded by entity as Deposit of Bigot Company 60,000 erroneously credited by bank to Bigotry Company August check of Bigot Company 200,000 erroneously charged by bank to Bigotry Company 400,000 NSF check: July 100,000 August 50,000 Note collected by bank for Bigotry Company: July 200,000 August 300,000 Deposit in transit: July 31 600,000 August 31 480,000 100,000 Outstanding checks: July 31 August 31 650,000 Required: Prepare a proof of cash for the month of August following the "book to bank" method. Bigotry Company provided the following information: Balance per book, August 31 Receipts per book for August Disbursements per book for August 2,000,000 4,400,000 3,600,000 1,860,000 Balance per bank, August 31. Bank receipts for August Bank disbursements for August 5,000,000 3,940,000 August collection of P200,000 recorded by entity as August check in payment of account 20,000 payable for P600,000 recorded by entity as Deposit of Bigot Company 60,000 erroneously credited by bank to Bigotry Company August check of Bigot Company 200,000 erroneously charged by bank to Bigotry Company 400,000 NSF check: July 100,000 August 50,000 Note collected by bank for Bigotry Company: July 200,000 August 300,000 Deposit in transit: July 31 600,000 August 31 480,000 100,000 Outstanding checks: July 31 August 31 650,000 Required: Prepare a proof of cash for the month of August following the "book to bank" method.
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Cash in Bank balance Add Outstanding check Total Less Deposit in Transit Check erroneously char... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Posted Date:
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