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Problem 2-15 (IAA) Sapphire Company provided the following information for the month of December: Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December T Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a. 2,500,000 b. 2,520,000 c. 2,540,000 d. 2,800,000 с.

Problem 2-15 (IAA) Sapphire Company provided the following information for the month of December: Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December T Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a. 2,500,000 b. 2,520,000 c. 2,540,000 d. 2,800,000 с.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 59BPSB
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c. 930,00U d. 965,000 uu Incl for P250,000 tha a customer on d Problem 2-15 (IAA) Sapphire Company provided the following information for the month of December: The bank state June. Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December DIT Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 1. What amount 30? 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. a. 9,180,000 b. 9,360,000 c. 9,000,000 d. 3,300,000 What is the cash balance per ledger on December 31? 2. What is the a. 2,500,000 b. 2,520,000 c. 2,540,000 d. 2,800,000 a. Net deb b. Net cre c. Net del d. Net de 70
Transcribed Image Text:c. 930,00U d. 965,000 uu Incl for P250,000 tha a customer on d Problem 2-15 (IAA) Sapphire Company provided the following information for the month of December: The bank state June. Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December DIT Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 1. What amount 30? 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. a. 9,180,000 b. 9,360,000 c. 9,000,000 d. 3,300,000 What is the cash balance per ledger on December 31? 2. What is the a. 2,500,000 b. 2,520,000 c. 2,540,000 d. 2,800,000 a. Net deb b. Net cre c. Net del d. Net de 70
Timex Company provided the following data relating to the cash transactions and bank account for the month of July: Problem 2-17 (IAA) Cash balance per ledger Cash balance per bank statement Debit memo for July service charge Deposit of July 31 not recorded by bank until August 1 Outstanding checks, including certified check of P50,000 Proceeds of bank loan not recorded in ledger Proceeds from customer note, face P400,000, collected by bank, collection fee of P15,000 A creditor check had been entered in the book as P20,000 and was erroneously deducted by the bank at 5,000 450,000 750,000 500,000 435,000 200,000 A customer check was returned by bank marked DAIF 50,000 3,000,000 Correct cash balance 1. What is the cash balance per ledger? a. 2,120,000 b. 3,055,000 c. 2,555,000 d. 2,065,000 2. What is the cash balance per bank statement? a. 3,700,000 b. 3,070,000 c. 3,050,000 d. 2,370,000 72
Transcribed Image Text:Timex Company provided the following data relating to the cash transactions and bank account for the month of July: Problem 2-17 (IAA) Cash balance per ledger Cash balance per bank statement Debit memo for July service charge Deposit of July 31 not recorded by bank until August 1 Outstanding checks, including certified check of P50,000 Proceeds of bank loan not recorded in ledger Proceeds from customer note, face P400,000, collected by bank, collection fee of P15,000 A creditor check had been entered in the book as P20,000 and was erroneously deducted by the bank at 5,000 450,000 750,000 500,000 435,000 200,000 A customer check was returned by bank marked DAIF 50,000 3,000,000 Correct cash balance 1. What is the cash balance per ledger? a. 2,120,000 b. 3,055,000 c. 2,555,000 d. 2,065,000 2. What is the cash balance per bank statement? a. 3,700,000 b. 3,070,000 c. 3,050,000 d. 2,370,000 72
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