What is the amount of the unrecorded check issued by company

Assignment Help Accounting Basics
Reference no: EM132934996

Problem - 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: EM132934996

Questions Cloud

How many orders would be placed per year : The amount of the ordering cost that should be used in EOQ formula. How many orders would be placed per year
Calculate port company investment income : The parent company reported income of P 337,920 (including dividend income of P 69,120) Calculate Port Company investment income
What would be the need for external financing of net profit : What would be the need for external financing of the net profit margin went up to 9.5 percent and dividend payout ratio were increase to 50% percent? Explain
How much cash was received by ABC Company : How much cash was received by ABC Company if on August 7, 2019, there were sales returns of P 25,000 and the customer paid on August 14, 2019
What is the amount of the unrecorded check issued by company : 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 are the forecasted total cash payments : Based on this information, what are the forecasted total 2014 cash payments for inventory purchased in the second half of 2014
What is the correct cash balance at March : Bank service charges for March - P1,285 Credit memo for interest credited by bank for the month of March - P105 What is the correct cash balance at March 31
Prepare the journal entry to record an impairment : Blossom determines that undiscounted future cash flows for the machine are estimated to be $57,600. Prepare the journal entry to record an impairment
What is the market price : What is the market price of the 3 year bond of face value 10000/ with half yearly coupon rate of 10% p.a.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the monthly payment of the new loan

Walsh university is considering building a new Student Center. The cost building this new Students center is estimated to be 20000000.

  What information does the statement of cash flow provide

What information does the statement of cash flow provide that is not available from the balance sheet or the income statement?

  What is the markup on costs

Question - A company achieves a gross profit margin on sales of 30%. What is the markup on costs

  Find how does the income statement prepared for a company

Find How does the income statement prepared for a company that sells goods (merchandiser) differ from that prepared for a service business?

  How does disney reconcile the difference

What other insights into this challenge can be found in examples from accounting for Disney's acquisitions of Lucasfilm and Pixar?

  Explain how diminishing marginal utility results

Explain how diminishing marginal utility results in the need for consumers to make choices. How does diminishing utility switch consumption from one good

  Determine the dollar amount of Annapolis Goods Inventory

Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2018

  Evaluating customer reaction of trade-off of giving up some

evaluating customer reaction of the trade-off of giving up some features of a product for a lower price would best fit

  A sales discount correctly taken by the charge customer was

1 a sales discount correctly taken by the charge customer was debited to sales at the time the entry was recorded. this

  Identify a security deposit compared to an unearned revenue

How would you identify a security deposit compared to an unearned revenue? Why is this an issue in the accrual accounting basis and not the same issue

  What is the internal rate of return on projects

The project is expected to produce cash flows starting in year 2 of $269,000 a year for the following six years. What is the internal rate of return on projects

  Who pays for accounting regulation and who benefits

A distinction was made in the chapter between MO types of regulation: the refinement and standardization of financial statements.

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