Which of the following situation will decrease both receipts and disbursement in the book proof of cash? I. Collection of customers account was recorded higher by P10,000 and corrected in the same period. II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period. III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period. Group of answer choices III only Both I and III Both I and II II only Both II and III I only
Which of the following situation will decrease both receipts and disbursement in the book proof of cash? I. Collection of customers account was recorded higher by P10,000 and corrected in the same period. II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period. III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period. Group of answer choices III only Both I and III Both I and II II only Both II and III I only
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
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Question
73.
Which of the following situation will decrease both receipts and disbursement in the book proof of cash?
I. Collection of customers account was recorded higher by P10,000 and corrected in the same period.
II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period.
III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period.
I. Collection of customers account was recorded higher by P10,000 and corrected in the same period.
II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period.
III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period.
Group of answer choices
III only
Both I and III
Both I and II
II only
Both II and III
I only
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