Please complete the table. Answer what is asked. Thank you. 9-6.Listed below are eight interbank cash transfers for SPF Co., indicated bythe letters a through h, for late December 2018 and early January 2019.Disbursing Bank(Month/Day)Receiving Bank(Month/Day)Per BankPer BooksPer BankPer BooksАтоunt12/2912/2912/2912/29P104,00032,00048,00088,000a.12/3012/3112/311/02b.1/0212/301/041/02с.d.1/0412/311/0212/31 Disbursing Bank(Month/Day)Receiving Bank(Month/Day)Per Books1/0112/311/021/03Атоunt31,200152,00084,00020,000Per Books1/01Per Bank1/03Per Banke.1/04f.1/021/0112/311/031/0212/31g.h.12/311/0312/30For each of transfers a through h (1) indicate whether cash is understated,overstated, or correct as a result; and (2) provide a brief example of whatcould cause the situation. Answer in a form such as the one illustratedhere.Understated,Overstated, orTransferExampleThe transfer was recorded in thea check written on theCorrecta.CorrectBook entries:accounting records asdisbursing bank on December 29 and a correspondingcash receipt recorded to receiving bank on that date.Bank entries: The check was taken to the receivingbank on December 29 and deposited. The accountsare both in the same bank, and accordingly thetransaction was recorded in both accounts as of thatdate.b.h.

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9-6. Listed below are eight interbank cash transfers for SPF Co., indicated by the letters a through h, for late December 2018 and early January 2019. Disbursing Bank (Month/Day) Receiving Bank (Month/Day) Per Bank Per Books Атоunt Per Books 12/29 Per Bank 12/29 1/02 1/04 P104,000 32,000 48,000 88,000 12/29 12/29 a. 12/31 12/30 12/30 12/31 12/31 b. 1/02 1/02 с. 1/02 12/31 d. 1/04

9-6. Listed below are eight interbank cash transfers for SPF Co., indicated by the letters a through h, for late December 2018 and early January 2019. Disbursing Bank (Month/Day) Receiving Bank (Month/Day) Per Bank Per Books Атоunt Per Books 12/29 Per Bank 12/29 1/02 1/04 P104,000 32,000 48,000 88,000 12/29 12/29 a. 12/31 12/30 12/30 12/31 12/31 b. 1/02 1/02 с. 1/02 12/31 d. 1/04

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11MC

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Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance: $10,595 Deposits in transit: $2,588 Outstanding checks: $489 Interest income: $121 NSF check: $966
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On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $220. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On June 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $437.