For the month of July, Adam Company had the following information: bank service charge for July, P16,500, “NSF” check, P40,000. Upon review of its records, Adam determined the following: deposit in transit P143,000, outstanding checks P110,000 and an unrecorded customer check of P38,500. If the cash in bank balance per ledger is P920,000, how much is the adjusted balance?
For the month of July, Adam Company had the following information: bank service charge for July, P16,500, “NSF” check, P40,000. Upon review of its records, Adam determined the following: deposit in transit P143,000, outstanding checks P110,000 and an unrecorded customer check of P38,500. If the cash in bank balance per ledger is P920,000, how much is the adjusted balance?
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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For the month of July, Adam Company had the following information: bank service charge for July, P16,500, “NSF” check, P40,000. Upon review of its records, Adam determined the following: deposit in transit P143,000, outstanding checks P110,000 and an unrecorded customer check of P38,500. If the cash in bank balance per ledger is P920,000, how much is the adjusted balance?
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