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The following data pertaining to the cash transactions and bank account of Ella Company for the month of May are available to you: Cash balance, per records, May 31 15,000 Cash balance, per bank statement, 5/31 30,000 Bank service charge for May 100 Debit memo for the cost of printed checks delivered by the bank 100 Outstanding checks, May 31 7,000 Deposit of May 30 not recorded by bank until June 1 4,500 Proceeds of a bank loan of May 30, net of interest of P300 5,000 Proceeds from a customer's promissory note, including interest of P100 8,000 Check No. 2772 issued to a supplier entered in the accounting records at P2,150 but the bank statement at an erroneous amount of deducted in 900 Stolen check lacking an authorized signature, deducted from Ella's account by the bank in error 800 Customer's check returned by the bank marked NSF; no entry has been made in the records to record the returned check accounting 750 What is the correct cash balance at May 31?

The following data pertaining to the cash transactions and bank account of Ella Company for the month of May are available to you: Cash balance, per records, May 31 15,000 Cash balance, per bank statement, 5/31 30,000 Bank service charge for May 100 Debit memo for the cost of printed checks delivered by the bank 100 Outstanding checks, May 31 7,000 Deposit of May 30 not recorded by bank until June 1 4,500 Proceeds of a bank loan of May 30, net of interest of P300 5,000 Proceeds from a customer's promissory note, including interest of P100 8,000 Check No. 2772 issued to a supplier entered in the accounting records at P2,150 but the bank statement at an erroneous amount of deducted in 900 Stolen check lacking an authorized signature, deducted from Ella's account by the bank in error 800 Customer's check returned by the bank marked NSF; no entry has been made in the records to record the returned check accounting 750 What is the correct cash balance at May 31?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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The following data pertaining to the cash transactions and bank account of Ella Company for the month of May are available to you: Cash balance, per records, May 31 15,000 Cash balance, per bank statement, 5/31 30,000 Bank service charge for May 100 Debit memo for the cost of printed checks delivered by the bank 100 Outstanding checks, May 31 7,000 Deposit of May 30 not recorded by bank until June 1 4,500 Proceeds of a bank loan of May 30, net of interest of P300 5,000 Proceeds from a customer's promissory note, including interest of P100 8,000 Check No. 2772 issued to a supplier entered in the accounting records at P2,150 but the bank statement at an erroneous amount of deducted in 900 Stolen check lacking an authorized signature, deducted from Ella's account by the bank in error 800 Customer's check returned by the bank marked NSF; no entry has been made in the records to record the returned check accounting 750 What is the correct cash balance at May 31?
Transcribed Image Text:The following data pertaining to the cash transactions and bank account of Ella Company for the month of May are available to you: Cash balance, per records, May 31 15,000 Cash balance, per bank statement, 5/31 30,000 Bank service charge for May 100 Debit memo for the cost of printed checks delivered by the bank 100 Outstanding checks, May 31 7,000 Deposit of May 30 not recorded by bank until June 1 4,500 Proceeds of a bank loan of May 30, net of interest of P300 5,000 Proceeds from a customer's promissory note, including interest of P100 8,000 Check No. 2772 issued to a supplier entered in the accounting records at P2,150 but the bank statement at an erroneous amount of deducted in 900 Stolen check lacking an authorized signature, deducted from Ella's account by the bank in error 800 Customer's check returned by the bank marked NSF; no entry has been made in the records to record the returned check accounting 750 What is the correct cash balance at May 31?
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