What is the cash in bank to be reported in the statement

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Reference no: EM132819458

Aris Company keeps all its cash in a checking account. An examination of the entity's accounting records and bank statement for the month ended June 30, 2019 revealed the following information:

The cash balance per book on June 30 is P8, 500,000. A deposit of P1,000,000 that was Placed in the bank.
The bank statement shows on June 30, the bank collected note for Aris Company and credited the proceeds of P950,000 to the Company's account.
Checks outstanding on June 30 amount to P300,000.
Aris Company discovered that a check written on June for P200,000 in payment of an account payable, had been recorded in entity's records as P20,000.
Included with the June bank statement was NSF check for P250,000 that Aris Company had received from a costumer on June 26.
The bank statements show a P20,000 service charge for June.

Problem 1: What is the cash in bank to be reported in the statement of financial position on June 30, 2019?

a. 9,180,000

b. 9,360,000

c. 9,000,000

d. 3,300,000

Reference no: EM132819458

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