The accounts of DMCI Holdings, Inc. revealed the following facts on August 31,2019. Balance of bank statement 1,200,000 Outstanding checks, August 31: Number 555 10,000 761 55,000 762 40,000 763 25,000 764 65,000 765 70,000 Receipts of August 31, deposited September 1 275,000 The bank statement showed the following charges: a. Service charge for August 5,000 b. NSF check received from a customer 85,000 The stub for check number 765 and the invoice relating thereto show that it was for P50,000. It was recorded incorrectly in the cash disbursements journal as P70,000. This check was drawn in payment of an account payable. Payment has been stopped on check number 555 which was drawn in payment of an account payable. The payee cannot be located. The cash balance per ledger on August 31, 2019 is ________.
The accounts of DMCI Holdings, Inc. revealed the following facts on August 31,2019. Balance of bank statement 1,200,000 Outstanding checks, August 31: Number 555 10,000 761 55,000 762 40,000 763 25,000 764 65,000 765 70,000 Receipts of August 31, deposited September 1 275,000 The bank statement showed the following charges: a. Service charge for August 5,000 b. NSF check received from a customer 85,000 The stub for check number 765 and the invoice relating thereto show that it was for P50,000. It was recorded incorrectly in the cash disbursements journal as P70,000. This check was drawn in payment of an account payable. Payment has been stopped on check number 555 which was drawn in payment of an account payable. The payee cannot be located. The cash balance per ledger on August 31, 2019 is ________.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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The accounts of DMCI Holdings, Inc. revealed the following facts on August 31,2019.
Balance of bank statement
1,200,000
Outstanding checks, August 31:
Number
555
10,000
761
55,000
762
40,000
763
25,000
764
65,000
765
70,000
Receipts of August 31, deposited September 1
275,000
The bank statement showed the following charges:
a. Service charge for August
5,000
b. NSF check received from a customer
85,000
The stub for check number 765 and the invoice relating thereto show that it was for P50,000.
It was recorded incorrectly in the cash disbursements journal as P70,000. This check was drawn
in payment of an account payable. Payment has been stopped on check number 555 which was
drawn in payment of an account payable. The payee cannot be located. The cash balance per
ledger on August 31, 2019 is ________.
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