As of June 30, the bank statement of Ang Po Trading had an ending balance of P373,612. The following data were assembled in the course of reconciling the bank balance:The bank erroneously credited Ang Po Trading for P2,150 on June 22.During the month, the bank charged back NSF checks amounting to P2,340 of which P800 had been redeposited by the 25th of June.Collection for June 30 totalling P10,330 was deposited the following month.Checks outstanding as of June 30 were P30,205.Notes collected by the bank for Ang Po Trading were P8,150 and the corresponding bank charges were P50.The adjusted bank balance on June 30 is P351,587 P359,687 P353,927 P358,147

The following items need to be adjusted in the cash book: Notes collected by the bank for Ang Po…

Answered: As of June 30, the bank statement of…

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

Problem 3E

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Question

As of June 30, the bank statement of Ang Po Trading had an ending balance of P373,612. The following data were assembled in the course of reconciling the bank balance:

The bank erroneously credited Ang Po Trading for P2,150 on June 22.
During the month, the bank charged back NSF checks amounting to P2,340 of which P800 had been redeposited by the 25th of June.
Collection for June 30 totalling P10,330 was deposited the following month.
Checks outstanding as of June 30 were P30,205.
Notes collected by the bank for Ang Po Trading were P8,150 and the corresponding bank charges were P50.

The adjusted bank balance on June 30 is

P351,587

P359,687

P353,927

P358,147

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