the cash balance shown in your general ledger is P2,000,000, while the cash balance shown in your bank statement is P800,000. You will likely feel relieved if the reconciling items include... A. a P1,200,000 deposit in transit B. a P1,200,000 outstanding check C. a P1,200,000 debit memo D. a P1,200,000 book error 2. A check correctly written and paid by the bank for P517 is incorrectly recorded on the company's book for P571, what would be the appropriate treatment on the bank reconciliation? A. add P54 to the book balance B. add P54 to the bank balance C.subtract P54 to the book balance D. subtract P54 to the bank balance
the cash balance shown in your general ledger is P2,000,000, while the cash balance shown in your bank statement is P800,000. You will likely feel relieved if the reconciling items include... A. a P1,200,000 deposit in transit B. a P1,200,000 outstanding check C. a P1,200,000 debit memo D. a P1,200,000 book error 2. A check correctly written and paid by the bank for P517 is incorrectly recorded on the company's book for P571, what would be the appropriate treatment on the bank reconciliation? A. add P54 to the book balance B. add P54 to the bank balance C.subtract P54 to the book balance D. subtract P54 to the bank balance
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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1. the cash balance shown in your general ledger is P2,000,000, while the cash balance shown in your bank statement is P800,000. You will likely feel relieved if the reconciling items include...
A. a P1,200,000 deposit in transit
B. a P1,200,000 outstanding check
C. a P1,200,000 debit memo
D. a P1,200,000 book error
2. A check correctly written and paid by the bank for P517 is incorrectly recorded on the company's book for P571, what would be the appropriate treatment on the bank reconciliation?
A. add P54 to the book balance
B. add P54 to the bank balance
C.subtract P54 to the book balance
D. subtract P54 to the bank balance
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