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Aballe Company provided the following data for the month of December: Balance per Book Bank Service Charge Outstanding Checks Deposit in Transit Customer Note Collected by Bank Interest on Customer Note 2,000,000 6,000 470,000 600,000 750,000 30,000 124,000 500,000 Customer check returned NSF Depositor's payment of note payable charged to account 1. What is the adjusted cash in bank? 2. What is the unadjusted cash in bank per statement?

Aballe Company provided the following data for the month of December: Balance per Book Bank Service Charge Outstanding Checks Deposit in Transit Customer Note Collected by Bank Interest on Customer Note 2,000,000 6,000 470,000 600,000 750,000 30,000 124,000 500,000 Customer check returned NSF Depositor's payment of note payable charged to account 1. What is the adjusted cash in bank? 2. What is the unadjusted cash in bank per statement?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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Aballe Company provided the following data for the month of December: Balance per Book Bank Service Charge Outstanding Checks Deposit in Transit Customer Note Collected by Bank 2,000,000 6,000 470,000 600,000 750,000 30,000 124,000 500,000 Interest on Customer Note Customer check returned NSF Depositor's payment of note payable charged to account 1. What is the adjusted cash in bank? 2. What is the unadjusted cash in bank per statement? Abne Company provided the following data for the purpose of reconciling the cash balance per book with the balance per bank statement on December 31,2020: Balance per book Balance per bank statement Outstanding checks, including certified check of P300,000 Deposit in Transit December NSF checks (of which P150,000 had been redeposited 2,550,000 6,000,000 1,500,000 600,000 and cleared on December 27) 450,000 Erroneous credit to Abne's account, representing proceeds of Loan granted to another company Proceeds of note collected by bank for Abne, net of service 900,000 Charge of P60,000 2,250,000 3. What amount should be reported as cash in bank on December 31, 2020?
Transcribed Image Text:Aballe Company provided the following data for the month of December: Balance per Book Bank Service Charge Outstanding Checks Deposit in Transit Customer Note Collected by Bank 2,000,000 6,000 470,000 600,000 750,000 30,000 124,000 500,000 Interest on Customer Note Customer check returned NSF Depositor's payment of note payable charged to account 1. What is the adjusted cash in bank? 2. What is the unadjusted cash in bank per statement? Abne Company provided the following data for the purpose of reconciling the cash balance per book with the balance per bank statement on December 31,2020: Balance per book Balance per bank statement Outstanding checks, including certified check of P300,000 Deposit in Transit December NSF checks (of which P150,000 had been redeposited 2,550,000 6,000,000 1,500,000 600,000 and cleared on December 27) 450,000 Erroneous credit to Abne's account, representing proceeds of Loan granted to another company Proceeds of note collected by bank for Abne, net of service 900,000 Charge of P60,000 2,250,000 3. What amount should be reported as cash in bank on December 31, 2020?
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