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9,375 8,625 Deposits in transit, 7/31 Outstanding checks, 7/31 Deposit erroneously recorded by bank to Royal account 375 10. Blue Company had the following cash balances at December 31, 2017: Undeposited currency and coins Unrestricted demand deposits P 35,000 1,450,000 Bank service charge for July 75 Company checks written (and deducted from the Demand deposits amount) but not scheduled to be delivered until January 6, 2018 Time deposits restricted for use (expected use in 2018) 3,000,000 What is the correct cash balance at July 31? 180,000 13. Monarch Company had the following bank reconciliation at March 31. In exchange for a guaranteed line of credit, Blue has agreed to maintain a minimum balance of P150,000 in its unrestricted demand deposit account. How much should Blue report as cash on its December 31, 2017 balance? P 93,000 Balance per bank statement, 3/31 Add: Deposit in transit 20,600 113,600 (25,200) Less: Outstanding checks Balance per books, 3/31 P 88.400 11. In preparing its bank reconciliation for the month of February. Orange Com- pany has available the following information: Data per bank statement for the month of April follow: Deposits Disbursements P116,000 99,400 Balance per bank statement, February 28 Deposit in transit, February 2 Outstanding checks, February 28 Checks erroneously deducted by bank from Orange' account, Feb. 10 Bank service charges for February P18,025 3,125 2,875 125 25 All reconciliation items at March 31 cleared through the bank in April. Outstanding checks at April 30 totaled P15,000. What is the amount of cash disbursements per books in April? What is the correct cash balance at February 28? 14. In preparing its August 31, 2017 bank reconciliation, Energy Corp. has made available the following information: 12. The In preparing the bank reconciliation of Royal Company for the month of July, the following information is available: Balance per bank statement, August 31 Deposit in transit Return of customer's check for insufficient funds 54,150 9,750 1,800 Balance per bank statement, 7/31 P 54,075

9,375 8,625 Deposits in transit, 7/31 Outstanding checks, 7/31 Deposit erroneously recorded by bank to Royal account 375 10. Blue Company had the following cash balances at December 31, 2017: Undeposited currency and coins Unrestricted demand deposits P 35,000 1,450,000 Bank service charge for July 75 Company checks written (and deducted from the Demand deposits amount) but not scheduled to be delivered until January 6, 2018 Time deposits restricted for use (expected use in 2018) 3,000,000 What is the correct cash balance at July 31? 180,000 13. Monarch Company had the following bank reconciliation at March 31. In exchange for a guaranteed line of credit, Blue has agreed to maintain a minimum balance of P150,000 in its unrestricted demand deposit account. How much should Blue report as cash on its December 31, 2017 balance? P 93,000 Balance per bank statement, 3/31 Add: Deposit in transit 20,600 113,600 (25,200) Less: Outstanding checks Balance per books, 3/31 P 88.400 11. In preparing its bank reconciliation for the month of February. Orange Com- pany has available the following information: Data per bank statement for the month of April follow: Deposits Disbursements P116,000 99,400 Balance per bank statement, February 28 Deposit in transit, February 2 Outstanding checks, February 28 Checks erroneously deducted by bank from Orange' account, Feb. 10 Bank service charges for February P18,025 3,125 2,875 125 25 All reconciliation items at March 31 cleared through the bank in April. Outstanding checks at April 30 totaled P15,000. What is the amount of cash disbursements per books in April? What is the correct cash balance at February 28? 14. In preparing its August 31, 2017 bank reconciliation, Energy Corp. has made available the following information: 12. The In preparing the bank reconciliation of Royal Company for the month of July, the following information is available: Balance per bank statement, August 31 Deposit in transit Return of customer's check for insufficient funds 54,150 9,750 1,800 Balance per bank statement, 7/31 P 54,075

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 2SEQ
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9,375 8,625 Deposits in transit, 7/31 Outstanding checks, 7/31 Deposit erroneously recorded by bank to Royal account 375 10. Blue Company had the following cash balances at December 31, 2017: Undeposited currency and coins Unrestricted demand deposits P 35,000 1,450,000 Bank service charge for July 75 Company checks written (and deducted from the Demand deposits amount) but not scheduled to be delivered until January 6, 2018 Time deposits restricted for use (expected use in 2018) 3,000,000 What is the correct cash balance at July 31? 180,000 13. Monarch Company had the following bank reconciliation at March 31. In exchange for a guaranteed line of credit, Blue has agreed to maintain a minimum balance of P150,000 in its unrestricted demand deposit account. How much should Blue report as cash on its December 31, 2017 balance? P 93,000 Balance per bank statement, 3/31 Add: Deposit in transit 20,600 113,600 (25,200) Less: Outstanding checks Balance per books, 3/31 P 88.400 11. In preparing its bank reconciliation for the month of February. Orange Com- pany has available the following information: Data per bank statement for the month of April follow: Deposits Disbursements P116,000 99,400 Balance per bank statement, February 28 Deposit in transit, February 2 Outstanding checks, February 28 Checks erroneously deducted by bank from Orange' account, Feb. 10 Bank service charges for February P18,025 3,125 2,875 125 25 All reconciliation items at March 31 cleared through the bank in April. Outstanding checks at April 30 totaled P15,000. What is the amount of cash disbursements per books in April? What is the correct cash balance at February 28? 14. In preparing its August 31, 2017 bank reconciliation, Energy Corp. has made available the following information: 12. The In preparing the bank reconciliation of Royal Company for the month of July, the following information is available: Balance per bank statement, August 31 Deposit in transit Return of customer's check for insufficient funds 54,150 9,750 1,800 Balance per bank statement, 7/31 P 54,075
Transcribed Image Text:9,375 8,625 Deposits in transit, 7/31 Outstanding checks, 7/31 Deposit erroneously recorded by bank to Royal account 375 10. Blue Company had the following cash balances at December 31, 2017: Undeposited currency and coins Unrestricted demand deposits P 35,000 1,450,000 Bank service charge for July 75 Company checks written (and deducted from the Demand deposits amount) but not scheduled to be delivered until January 6, 2018 Time deposits restricted for use (expected use in 2018) 3,000,000 What is the correct cash balance at July 31? 180,000 13. Monarch Company had the following bank reconciliation at March 31. In exchange for a guaranteed line of credit, Blue has agreed to maintain a minimum balance of P150,000 in its unrestricted demand deposit account. How much should Blue report as cash on its December 31, 2017 balance? P 93,000 Balance per bank statement, 3/31 Add: Deposit in transit 20,600 113,600 (25,200) Less: Outstanding checks Balance per books, 3/31 P 88.400 11. In preparing its bank reconciliation for the month of February. Orange Com- pany has available the following information: Data per bank statement for the month of April follow: Deposits Disbursements P116,000 99,400 Balance per bank statement, February 28 Deposit in transit, February 2 Outstanding checks, February 28 Checks erroneously deducted by bank from Orange' account, Feb. 10 Bank service charges for February P18,025 3,125 2,875 125 25 All reconciliation items at March 31 cleared through the bank in April. Outstanding checks at April 30 totaled P15,000. What is the amount of cash disbursements per books in April? What is the correct cash balance at February 28? 14. In preparing its August 31, 2017 bank reconciliation, Energy Corp. has made available the following information: 12. The In preparing the bank reconciliation of Royal Company for the month of July, the following information is available: Balance per bank statement, August 31 Deposit in transit Return of customer's check for insufficient funds 54,150 9,750 1,800 Balance per bank statement, 7/31 P 54,075
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