Instructions: Prepare a bank reconciliation statement. Mr. Jimin received his August 2020 bank statement. The ending cash balance in his accounting books is P300,000 while the cash balance shown on the bank statement is P430,000. He determined the following reconciling items. a. Credit Memo (A/R) b. Debit Memo (A/P) c. Deposits in transit d. Outstanding Checks P190,000 30,000 50,000 20,000 JIMIN CO. Bank Reconciliation Statement August 31, 2020 Adjusting Entries
Instructions: Prepare a bank reconciliation statement. Mr. Jimin received his August 2020 bank statement. The ending cash balance in his accounting books is P300,000 while the cash balance shown on the bank statement is P430,000. He determined the following reconciling items. a. Credit Memo (A/R) b. Debit Memo (A/P) c. Deposits in transit d. Outstanding Checks P190,000 30,000 50,000 20,000 JIMIN CO. Bank Reconciliation Statement August 31, 2020 Adjusting Entries
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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