Below is the bank reconciliation of CPA Company for July 2021: Balance per Bank, July 31, 2021 Add: Deposit in Transit P 750,000 120,000 P 870,000 Total Deduct: Outstanding Checks P 140,000 Erroneous Bank Credit 50,000 190,000 P 680,000 Cash Balance per books, July 31, 2021 The bank statement for August 2021 contains the following data: Total deposits – P550,000; Total charges (including non-sufficient fund check of P40,000 and servic charge of P2,000) – P480,000. All outstanding checks on July 31, 2021 including the bank credit wer cleared in the bank in August 2021. There were outstanding checks of P150,000 and deposits in transit o P190,000 on August 31, 2021. How much were the cash disbursements per books during August 2021?

Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
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Chapter6: Cash And Receivables
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How much were the cash disbursements per books during August 2021?

Below is the bank reconciliation of CPA Company for July 2021:
Balance per Bank, July 31, 2021
Add: Deposit in Transit
Total
P 750,000
120,000
P 870,000
Deduct: Outstanding Checks
P 140,000
Erroneous Bank Credit
50.000
190,000
P 680,000
Cash Balance per books, July 31, 2021
The bank statement for August 2021 contains the following data:
Total deposits – P550,000; Total charges (including non-sufficient fund check of P40,000 and service
charge of P2,000) – P480,000. All outstanding checks on July 31, 2021 including the bank credit were
cleared in the bank in August 2021. There were outstanding checks of P150,000 and deposits in transit of
P190,000 on August 31, 2021.
How much were the cash disbursements per books during August 2021?
Transcribed Image Text:Below is the bank reconciliation of CPA Company for July 2021: Balance per Bank, July 31, 2021 Add: Deposit in Transit Total P 750,000 120,000 P 870,000 Deduct: Outstanding Checks P 140,000 Erroneous Bank Credit 50.000 190,000 P 680,000 Cash Balance per books, July 31, 2021 The bank statement for August 2021 contains the following data: Total deposits – P550,000; Total charges (including non-sufficient fund check of P40,000 and service charge of P2,000) – P480,000. All outstanding checks on July 31, 2021 including the bank credit were cleared in the bank in August 2021. There were outstanding checks of P150,000 and deposits in transit of P190,000 on August 31, 2021. How much were the cash disbursements per books during August 2021?
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