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Compute what the adjusted balance per bank is

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Goose Company has gathered the following information in relation to its checking account in BDO for the month of April

  • Balance per books April 30, P750,000; per bank statement April 30, P815,000
  • Deposits still in transit at April 30 was P80,000
  • NSF checks returned by the bank in April was P90,000 and April charges amounted to P20,000
  • Checks issued but have not yet cleared by April 30 was P50,000
  • Proceeds from loan directly credited to Goose Company's account amounted to P200,000, while interest on deposits amounted to P5,000

Problem a. The adjusted balance per book is

Problem b. The adjusted balance per bank is

Reference no: EM132728366

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