SENSIBLE COMPANY provided the following ledger account of the Cash in Bank maintained with Second Bank SECOND BANK 1 BALANCE 6 DEPOSIT 771 20,000.C 772 DEC 100,000.00 DEC 1 CK# 30,000.00 4 5,000.C 12 DEPOSIT 40,000.00 35,000.0 774 15,000.C 775 30,000.0 776 25,000.0 777 40,000.C 773 24 DEPOSIT 50,000.00 10 31 DEPOSIT 60,000.00 14 18 24 The following bank statement was received from the Second Bank by Sensible Company Sensible Company Check No. Withdrawal Deposits Date Balance 1 130,000.00 768 120,000.00 10,000.00 20,000.00 1 771 100,000.00 4 772 5,000.00 95,000.00 6 773 35,000.00 30,000.00 90,000.00 12 774 15,000.00 40,000.00 115,000.00 12 776 52,000.00 63,000.00 24 28 NSF CHECK 8,000.00 50,000.00 10,000.00 45,000.00 CM 5,000.00 105,000.00 140,000.00 135,000.00 1042 28 SERVICE CHARGE Other Information: 1. Sensible Company reconciled its bank balance on November 30 with 2 checks, No, 768 for Php 10,000.00 and No. 770 for Php 20,000.00 outstanding. 2. Check No. 1042 was drawn by Sensitive Company. The bank charged it in error to the account of Sensible Company.
SENSIBLE COMPANY provided the following ledger account of the Cash in Bank maintained with Second Bank SECOND BANK 1 BALANCE 6 DEPOSIT 771 20,000.C 772 DEC 100,000.00 DEC 1 CK# 30,000.00 4 5,000.C 12 DEPOSIT 40,000.00 35,000.0 774 15,000.C 775 30,000.0 776 25,000.0 777 40,000.C 773 24 DEPOSIT 50,000.00 10 31 DEPOSIT 60,000.00 14 18 24 The following bank statement was received from the Second Bank by Sensible Company Sensible Company Check No. Withdrawal Deposits Date Balance 1 130,000.00 768 120,000.00 10,000.00 20,000.00 1 771 100,000.00 4 772 5,000.00 95,000.00 6 773 35,000.00 30,000.00 90,000.00 12 774 15,000.00 40,000.00 115,000.00 12 776 52,000.00 63,000.00 24 28 NSF CHECK 8,000.00 50,000.00 10,000.00 45,000.00 CM 5,000.00 105,000.00 140,000.00 135,000.00 1042 28 SERVICE CHARGE Other Information: 1. Sensible Company reconciled its bank balance on November 30 with 2 checks, No, 768 for Php 10,000.00 and No. 770 for Php 20,000.00 outstanding. 2. Check No. 1042 was drawn by Sensitive Company. The bank charged it in error to the account of Sensible Company.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning