Reference no: EM132757784
Theta Corporation gathered the following for its proof of cash for the month of Setember:
Cash balance per P1,200,000 ---
ledger Cash balance per --- 1,000,000
bank statement Deposits in transit 400,000 600,000
Outstanding 160,000 700,000 checks
Credit memos 270,000 370,000
Debit memos 30,000 420,000
Book debits P8,100,000
Book credits 8,350,000
Bank debits 3,200,000 8,000,000
Problem 1: What should Theta report as cash in bank as of the end of September?
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