What is the amount of the unrecorded check issued

Assignment Help Financial Accounting
Reference no: EM132935012

Question - BTS Company banks with SoK Bank and prepares reconciliation of the bank and book balances on a regular monthly basis. The December 31, 2016 reconciliation shows a balance per bank of P581,050, balance per books of P627,000, outstanding checks of P84,300, deposits in transit of P120,000, interest earned on the bank balance of P1,250, and service charges of P400. Included in the bank statement was a canceled check which the company had failed to record. The check was in payment of accounts payable. What is the amount of the unrecorded check issued by the company in payment of accounts payable?

Reference no: EM132935012

Questions Cloud

What is Noah adjusted gross income for the current year : He also actively participates in another real estate rental activity from which he has $34,700 of income. What is Noah adjusted gross income for current year
What amount should be debited to the patent account : Ivanhoe Corporation acquired a patent on May 1, 2020. Ivanhoe paid cash of $92000 to the seller. What amount should be debited to the patent account
What would these numbers tell me about the capital structure : If a company has $180,000 in current liabilities and holds $470,000 in total stockholders' equity. What would these numbers tell me about the capital structure
Calculate the cost of debt after tax : A company issues Rs.10,00,000 12% debentures of Rs.100 each. Calculate the cost of debt after tax if debentures are issued at par
What is the amount of the unrecorded check issued : The check was in payment of accounts payable. What is the amount of the unrecorded check issued by the company in payment of accounts payable
What was the company accounts receivable balance : Gross profit base on sales 20% Accounts receivable, Dec. 31, 2019 P 80,000. What was the company Accounts Receivable balance
Find the Federal tax amount : An employee is paid weekly and earns $662.00 per pay. Federal claim code is 3 and provincial claim code is 4. Find the Federal tax amount
What amount should be included as gain on disposal : If Blue Corp. sold the plant on March 1, 2022 for a net proceeds of P351,000, what amount should be included as gain on disposal in entity's statement
What would be the monthly operating advantage : What would be the monthly operating advantage (disadvantage) of purchasing the goods internally assuming the external supplier increased its price

Reviews

Write a Review

Financial Accounting Questions & Answers

  At what value will the copyright be recorded on January

Fifle agreed to make payments of $10,000 per year for 5 years, At what value will the copyright be recorded on January 1, 20X4

  What will be net profit per share on a covered

Options expire on December 21, 2021. What will be net profit/loss per share on a covered call (use K=$40 call) if the stock price is $100 per share?

  What is the current market price of the common stock

What is the current market price of the common stock? AG Motor's common stock currently pays an annual dividend of $3.60 per share.

  Compute the sample standard deviation

Use the defining formula to compute the sample standard deviation s. (Enter a number. Round your answer to two decimal places.)

  What equivalent early payment made in advance

On an annual renewable lease, the monthly lease payment on office space is $500 payable at the beginning of every month.

  What does this statement of cash flow tell you

What does this statement of cash flow tell you about the sources and uses of the company and is there anything ABC Company can do to improve the cash flow?

  Terms of return on investment and residual income

Consider the following data, which relate to the two divisions of McIntyre Products: Division 1 Division 2 Total assets $68,300,000 $23,000,000 Noninterest-bearing current liabilities 4,470,000 2,270,000 NOPAT 12,200,000 5,970,000 Required rate of re..

  Compute the balance and denote it

Kenneth Dolkart Optical Dispensary purchased supplies on account for $3,400. Two weeks later, the business paid half on account.

  Transaction as either operating-investing-financing activity

Selected transactions of Eller Company are listed below. Classify each transaction as either a(n)operating activity, investing activity, financing activity, or non-cash investing and financing activity by placing in X in the appropriate column on the..

  What amount is the balance of investment to be presented

On December 31, 2021, what amount is the balance of investment to be presented in the Statement of Financial Position

  Which main impact of this growth on the external audit

Which main impact of this growth on the external audit approach is likely to be an increasing emphasis on audit evidence obtained

  Calculate amount of revenue-gross profit to be recognized

In 2016, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2018. Information related to the contract is as follows: 2016 2017 2018 Cost incurred during the ..

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