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.Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was determined: a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000. b. Credit memo – ₱20,000 c. Debit memo – ₱15,000 d. Deposits in transit – ₱75,000 e. Outstanding checks – ₱25,000 f. The disbursements per books are overstated by ₱45,000. g. The bank debits are understated by ₱40,000.

.Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was determined: a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000. b. Credit memo – ₱20,000 c. Debit memo – ₱15,000 d. Deposits in transit – ₱75,000 e. Outstanding checks – ₱25,000 f. The disbursements per books are overstated by ₱45,000. g. The bank debits are understated by ₱40,000.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
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.Entity A is preparing its March 31, 20x1 bank reconciliation. The following information was determined:
a. The cash balance per books is ₱280,000 while the cash balance per bank statement is ₱320,000.
b. Credit memo – ₱20,000
c. Debit memo – ₱15,000
d. Deposits in transit – ₱75,000
e. Outstanding checks – ₱25,000
f. The disbursements per books are overstated by ₱45,000.
g. The bank debits are understated by ₱40,000.

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