Reference no: EM132915491

While checking the cash accounts of Bulos Company on December 31, 2018, you find the following information:

Balance per books................................................... 67,760
Balance in checking account (outstanding checks
per books of 9,876).................................................. 65,323
Deposit in bank closed by BSP.................................... 16,000
Deposit in transit..................................................... 12,345
Currency and coins counted........................................ 9,500
PCF (P450 is in the form of paid voucher)....................... 1,000
Bank charge not yet taken up in the books....................... 58
Bond sinking fund- cash............................................ 10,000
Receivable from employees....................................... 700
Book error in recording checks, the correct amount as paid by the bank is 890 instead of
980 as recorded in the books, or a difference of...............90

Problem 1: What are the correct cash in bank balance and cash on hand balance for Bulos Company on December 31, 2018 respectively?