How much is the total outstanding checks at may

Assignment Help Financial Accounting
Reference no: EM132894370

ABC Company shows the following information as of May 31 of the current year:

Total check disbursements per books 1,000,000

Total check disbursements per banks 950,000

Outstanding checks last month, Php10,000 still outstanding this month 120,000

The bank charged ABC Company for a CBA Company check amounting to Php20,000.

The disbursements recorded by the company accountant included the following:

Check dated May 28, delivered on June 5 10,000

Check delivered on May 28, dated June 5 15,000

Question 1: How much is the total outstanding checks at May 31 of the current year?

Option 1: 205,000

Option 2: 215,000

Option 3: 235,000

Option 4: 190,000

Reference no: EM132894370

Questions Cloud

How the event impacts international business : Tell us what your major take-away from the event in terms of how the event impacts international business.
Peter achievement orientation : How would you gauge Peter's achievement orientation? What are some of the needs not being met for Peter Gibbons at Initech?
Find the adjusted cash balance amounted to : Find the adjusted cash balance amounted to. Customer NSF check, Php5,000 of which is redeposited during the month 20,000 Service charge 2,000
Fertility drugs and ovarian cancer : Stanford University medical researchers conducted a study on the correlation between the use of fertility drugs and ovarian cancer.
How much is the total outstanding checks at may : How much is the total outstanding checks at May 31 of the current year? The bank charged ABC Company for a CBA Company check amounting to Php20,000.
Analyze reservation transactions for hotel : Analyze the reservation transactions for a hotel and use that information to fine-tune the hotel's business strategy and marketing activities.
How much is the sales on account : ABC Company, The uncollectible accounts is estimated to be 5% of the outstanding balance of receivable. How much is the sales on account?
Examine statistics on such things as revenues : You should examine statistics on such things as revenues, sales volume, price, sales channels, market shares of brands and any indicators you consider relevant
How much is the loss on note receivable discounting : How much is the loss on note receivable discounting? A promissory note issued by a customer with a face amount of Php200,000. The term of the note is 120 days.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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