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Problem 2 The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?

Problem 2 The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?

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 47E
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Problem 2 The company received the bank statement for the month with an unad justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?
Maps Problem 2 The company received the bank statement for the month with an unad- justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?
Transcribed Image Text:Maps Problem 2 The company received the bank statement for the month with an unad- justed balance of P544,000. It includes a debit memo worth P29,000 and a credit memo for P100,000. The company observed that there is a deposit in transit worth P20,000 and outstanding checks amounting to P34,000. 1. How much is the adjusted cash balance? 2. How much is the unadjusted book balance?
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