While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following...
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While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following information: Balance per books P 67,760 Balance in checking account (outstanding checks per book of 9,876) Deposit in bank closed by Era Currency and coins accounted Petty cash fund (of which 450 is in the form of paid vouchers) Bank charges not taken up in the books Bond sinking fund 65,323 16,000 9,500 1,000 58 10,000 700 Receivable from employees Book error in recording a check, the correct amount as paid by the bank Is 890 instead of 980 as recorded in the books, or a difference of a. What is the correct cash in bank balance for OnlYyou company on Dec. 31, 2006? b. What is the correct cash on hand balance for OnlYyou company on Dec. 31, 2006? 90 While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following information: Balance per books P 67,760 Balance in checking account (outstanding checks per book of 9,876) Deposit in bank closed by Era Currency and coins accounted Petty cash fund (of which 450 is in the form of paid vouchers) Bank charges not taken up in the books Bond sinking fund 65,323 16,000 9,500 1,000 58 10,000 700 Receivable from employees Book error in recording a check, the correct amount as paid by the bank Is 890 instead of 980 as recorded in the books, or a difference of a. What is the correct cash in bank balance for OnlYyou company on Dec. 31, 2006? b. What is the correct cash on hand balance for OnlYyou company on Dec. 31, 2006? 90
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answer a To calculate the correct cash in bank balance for OnlYyou company on December 31 2006 we ne... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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