Balance per bank P2,225,000 Deposit in transit P1,500,000 Outstanding check P 425,000 Bank service charge for the month of December P 25,000 Customer's check returned by bank marked NSF P 250,000 Customer's note collected by bank Face, P1,000,000; Interest P100,000; Collection fee, P25,000 P1,075,000 What is the cash in bank to be shown in the December 31, 2010 statement of financial position? Answer: 3,300,000

Balance per bank P2,225,000 Deposit in transit P1,500,000 Outstanding check P 425,000 Bank service charge for the month of December P 25,000 Customer's check returned by bank marked NSF P 250,000 Customer's note collected by bank Face, P1,000,000; Interest P100,000; Collection fee, P25,000 P1,075,000 What is the cash in bank to be shown in the December 31, 2010 statement of financial position? Answer: 3,300,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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