Reference no: EM132796053
The following information is made available while checking the cash accounts of Rocheta Company on December 31, 2019:
Balance per book 7,100,000
Balance in checking account 7,000,000
Deposit in transit 1,200,000
Outstanding checks 1,500,000
Deposit in other bank closed by BSP 1,500,000
Currency and coins on hand 600,000
Petty cash fund 50,000
DAIF checks of customers returned by bank 500,000
Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book 100,000
Problem 1: The correct cash balance under current assets on December 31, 2019 is_
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