Escheated bank deposits which were note claimed for over 10 years are remitted to: GROUP OF ANSWER: PDIC CENTRAL BANK BIR BUREAU OF TREASURY
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Escheated bank deposits which were note claimed for over 10 years are remitted to:
GROUP OF ANSWER:
PDIC
CENTRAL BANK
BIR
BUREAU OF TREASURY
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- A company collects an honored note with a maturity date of 24 months from establishment, a 10% interest rate, and an initial loan amount of $30,000. Which accounts are used to record collection of the honored note at maturity date? A. Interest Revenue, Interest Expense, Cash B. Interest Receivable, Cash, Notes Receivable C. Interest Revenue, Interest Receivable, Cash, Notes Receivable D. Notes Receivable, Interest Revenue, Cash, Interest ExpenseA debit order of R1500 for payment of rates will appear in ____________during the bank reconciliation processThe deposit in transit balance for the previous and current months are P200,000 and P100,000, respectively. If the total deposits acknowledged by the bank is P1,100,000 compute the book’s total deposits.
- Journal Entry for Payee when giving note * to either the maker or a bank Debit Cash, Credit Notes Receivable, Credit Interest Revenue for (cash X interest rate X months/12) Debit Cash, debit Notes Receivable, Credit Interest Revenue for (cash X interest rate X months/12) debit Notes Receivable, credit cash, Credit Interest Revenue for (cash X interest rate X months/12)Bank Reconciliation Activity The accounting records and bank statement of Entity A shows the following information: (The attached picture) Additional Information:a. The payments of P2,000 and P50,000 shown on the bank statement pertain to the cost of checkbook requested from the bank and the monthly amortization of a bank loan,respectively. The loan payment includes payment for interest of P8,000. b. Deposits shown on the bank statement but not on the cash ledger represent collections of accounts receivable. Requirements:1. Prepare the bank reconciliation.2. Prepare the journal entries to record the adjusting entries on the books of Entity A.Using this same information, to make a journal entry for the date of January 1, 2023 for collection of the interest and the bank loan, is the following correct? Jan 1, 2023 Interest receivable $3885 (debit) Bank loan recievable $3700 (debit) Cash $40885 (credit)
- Create a balance sheet with the following information. Create a balance sheet for the following information. Bank Accoutns recievable Equipement Accounts payable Long-term debt Capital Retained earning Withdrawis msi in ^ 00 C 4 I P JOOOOL K V B m 2050 6100 900 150 2000 5000 10900 9000 0 ALTOR inA company collects an honored note with a maturity date of 24 months from establishment, a 10%interest rate, and an initial loan amount of $30,000. Which accounts are used to record collection of thehonored note at maturity date?A. Interest Revenue, Interest Expense, CashB. Interest Receivable, Cash, Notes ReceivableC. Interest Revenue, Interest Receivable, Cash, Notes ReceivableD. Notes Receivable, Interest Revenue, Cash, Interest Expense1. Compile the bank reconciliation statement as at 31 January 2020
- Requirements Prepare the bank reconciliation of Devon insurance at December 31, 2024 Journalized any required entries from the bank reconciliationPrepare the bank reconciliation of Harvey insurance at December 31, 2024 Journalize any required entries from the bank reconciliation Prepare a balance sheet, assuming that the current portion of the note payable is $7,000