Kalix Company provided the following data relating to the cash transactions and bank account for the month
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Question:
Cash balance per ledger ?
Cash balance per bank statement ?
Debit memo for July service charge 5,000
Deposit of July 31 not recorded by bank until
August 1 450,000
Outstanding checks, including certified checkof P50,000 750,000
Proceeds of bank loan not recorded in ledger 500,000
Proceeds from customer note, face P400,000,
collected by bank, collection fee of P15,000 435,000
A creditor check had been entered in the book
as P20,000 and was erroneously deducted by
the bank at 200,000
A customer check was returned by bank
marked DAIF 50,000
Correct cash balance 3,000,000
Related Book For
Principles of Financial Accounting chapters 1-17
ISBN: 978-1259687747
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date: