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The cash account shows a balance of P450,000 before reconciliation. The bank statement does not include a deposit of P23,000 made on the last day of the month. The bank statement shows a collection by the bank of P9,400 and a customer's check for P3,200 was returned because it was NSF. A customer's check  for P4,500 was recorded on the books at P5,400, and a check written for P790 was recorded as P970.   The correct balance in the cash account was? (with solution) a. P455,120 b. P455,480 c. P457,280 d. P478,480

The cash account shows a balance of P450,000 before reconciliation. The bank statement does not include a deposit of P23,000 made on the last day of the month. The bank statement shows a collection by the bank of P9,400 and a customer's check for P3,200 was returned because it was NSF. A customer's check  for P4,500 was recorded on the books at P5,400, and a check written for P790 was recorded as P970.   The correct balance in the cash account was? (with solution) a. P455,120 b. P455,480 c. P457,280 d. P478,480

College Accounting (Book Only): A Career Approach
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 cash account shows a balance of P450,000 before reconciliation. The bank statement does not include a deposit of P23,000 made on the last day of the month. The bank statement shows a collection by the bank of P9,400 and a customer's check for P3,200 was returned because it was NSF. A customer's check  for P4,500 was recorded on the books at P5,400, and a check written for P790 was recorded as P970.

 

The correct balance in the cash account was? (with solution)

a. P455,120

b. P455,480

c. P457,280

d. P478,480

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