Answered: Which of the following is not a book…

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

Which of the following is not a book reconciling item?

A. Book Error
B. CreditMemo
C. Debit Memo
D. Deposit in Transit

A company has P1,578,000 cash balance per bank statement, P433,000 deposit in transit, P253,000 NSF check, P105,000 erroneous credit by the bank to the entity's account, and P321,000 outstanding check. What is the adjusted cash balance?

A. P1,585,000
B. P1,322,000
C. P1,542,000
D. P1,795,000

A company has P1,922,000 balance per books, P311,000 deposit in transit, P253,000 outstanding checks, P118,000 credit memo and P65,000 NSF check. What is the adjusted cash balance?

A. P1,585,000
B. P1,787,000
C. P1,975,000
D. P1,722,000

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