Determine the following: d. Adjusted bank balance on May 31, 2021 PROBLEM 2: The following data are gathered by the account of CHOPPER TECH. 4/30/2021 5/31/2021 Cash account balance 53,000 87,400 Bank statement balance 260,000 340,000 Deposits in transit 20,500 32,200 Outstanding checks 69,000 75,000 Bank service charges 1,500 1,300 NSF checks 20,600* Company's note receivable collected by bank 160,000 211,100 Redeposited and recorded in the same month. The bank statement and the company's cash records show the following totals: Cancelled checks and debit memos per bank statement P 540,000 Cash receipts per cash book 400,000 Checks written per cash book 524,100 Deposits and credit memos per bank statement 620,000
Determine the following: d. Adjusted bank balance on May 31, 2021 PROBLEM 2: The following data are gathered by the account of CHOPPER TECH. 4/30/2021 5/31/2021 Cash account balance 53,000 87,400 Bank statement balance 260,000 340,000 Deposits in transit 20,500 32,200 Outstanding checks 69,000 75,000 Bank service charges 1,500 1,300 NSF checks 20,600* Company's note receivable collected by bank 160,000 211,100 Redeposited and recorded in the same month. The bank statement and the company's cash records show the following totals: Cancelled checks and debit memos per bank statement P 540,000 Cash receipts per cash book 400,000 Checks written per cash book 524,100 Deposits and credit memos per bank statement 620,000
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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