Jakarta Company provided the following information at month-end: Cash in bank per bank statement P8,000,000 Deposit in transit 1,200,000 Outstanding checks, including a certified check of P200,000 1,500,000 Amount erroneously credited by the bank to the entity's account 150,000 Note collected by the bank for the entity, including interest of P100,000 1,100,000 Service charge for the current month 20,000 NSF checks of customers returned by bank 500,000 Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book P100,000. Other related information: Saving deposit in other bank closed by BSP P1,000,000 Currency and coins on hand 900,000 Petty cash fund 50,000 Requirements: How much is the adjusted cash in bank at month-end? How much is the unadjusted cash in bank per ledger at month-end? How much are the Cash and cash equivalents?
Kindly help Jakarta Company prepares the
Thanks,
Mr. Veloso
Jakarta Company provided the following information at month-end:
Cash in bank per bank statement P8,000,000
Deposit in transit 1,200,000
Outstanding checks, including a certified check of P200,000 1,500,000
Amount erroneously credited by the bank to the entity's account 150,000
Note collected by the bank for the entity, including interest of P100,000 1,100,000
Service charge for the current month 20,000
NSF checks of customers returned by bank 500,000
Error in recording a check in the book.
The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book P100,000.
Other related information:
Saving deposit in other bank closed by BSP P1,000,000
Currency and coins on hand 900,000
Petty cash fund 50,000
Requirements:
How much is the adjusted cash in bank at month-end?
How much is the unadjusted cash in bank per ledger at month-end?
How much are the Cash and cash equivalents?
What are the related
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