User Account

All Pages

Compute the correct cash in bank balance

Assignment Help Financial Accounting
Reference no: EM132755601

Problem - ABC Corporation is preparing its bank reconciliation for the month of April. The bank statement showed and ending balance of P500,000, collection of a customer note by the bank of P100,000, bank service charge of P10,000, and an erroneous bank debit of P5,000 which it immediately corrected within the month. The cash in bank balance per ledger is P400,000. You determined that the entity recorded a P50,000 check payment as P5,000. Compute the correct cash in bank balance?

Reference no: EM132755601

Questions Cloud

At what price is investor willing to buy Cipamingkis bond : If the investor asks for a 12% yield, at what price is the investor willing to buy the PT Cipamingkis bond and what is the effective annual yield of the bond
CIS7031 Programming for Data Analysis Assignment : CIS7031 Programming for Data Analysis Assignment Help and Solution, Cardiff University - Assessment Writing Service - develop and implement solutions
What is the correlation between the two stocks : What is the correlation between the two stocks? Interpret the result. Your portfolio has had a variance of 25% over the past few years.
What is the journal entry recorded for the issuance : On January 1, Staple Company issued bonds with a face value of $200,000. What is the journal entry recorded for the issuance
Compute the correct cash in bank balance : The cash in bank balance per ledger is P400,000. You determined that the entity recorded a P50,000 check payment as P5,000. Compute correct cash in bank balance
Business organization as compared to partnership : Describe briefly two advantages and two disadvantages of a corporate form of business organization as compared to a partnership.
Which subsidiary will get the product and at what price : The tax authorities will allow transfer prices only between $500,000 and $710,000. Which subsidiary will get the product and at what price
Investigate new proposals or policy implementations : Investigate new proposals or policy implementations that have impacted this evolution, as well as current healthcare access and efficiency issues in the Kingdom
What amount of gain or loss on transfer company recognize : As of December 31, 2019, it has a carrying value of Php 4,900,000. What amount of gain or loss on transfer should the company recognize on December 31, 2020

Reviews

Write a Review

Financial Accounting Questions & Answers

  How much should be pretax financial income subject to income

Goodwill impairment of P87,500 which will never be deductible for income tax purposes. How much should be the pretax financial income subject to income tax?

  Illustrate what was the amount of cash paid for salaries

The beginning and ending balances in salaries payable were $40,000 and $15,000, respectively. Illustrate what was the amount of cash paid for salaries?

  Find and calculate the growth rate growth rate

If change the dividend policy with an annual dividend of Rs.1.30 per share, what would be new growth rate and required return if everything else remains same?

  Find what other alternatives apart from issuing share option

What are the other alternatives apart from issuing share options available for Stark Enterprise Ltd. to raise additional funds for this expansion plan?

  Using the FIFO perpetual inventory method

A company’s inventory records report the following: On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?

  Use in preparing the statement of cash flows

Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows?

  What should STL do

Buy Case STL can purchase, Evaluate this financing structure showing all the relevant cashflows. Calculate the NPV of this structure. What should STL do?

  Traceable fixed expenses for division

Hatch Company has two divisions, O and E. During the year just ended, Division O had a segment margin of $15,400 and variable expenses equal to 60% of sales. Traceable fixed expenses for Division E were $24,000. Hatch Company as a whole had a contrib..

  Evaluate the effect on the basis of the condominium

Evaluate the total amount of deductions for and from AGI that Kim can take during the present year with respect to the condominium and evaluate the effect on the basis of the condominium?

  Identify some accounting issues

Identify some accounting issues, (i.e. various GAAP procedures used in recording) associated with various long-term liability accounts.

  How much is caspars doubtful accounts expense

How much is Caspar's doubtful accounts expense for 2018? What FYE adjusting entry (in journal form) does Caspar need to make at December 31, 2018?

  Draw conclusions you draw on face of financial

draw conclusions you draw on face of financial statements.the financial health of a company can be analyzed using a

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd