FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Problem 3-13 (AICPA Adapted)
Opaque Company prepared the following bank reconciliation
on March 31:
4,650,000
1,000,000
5,650,000
(1,250,000)
per bank statement, March 31
Balance
Deposit in transit
Total
Outstanding checks
Balance per book, March 31
4,400,000
Data per bank statement for the month of April follow:
Deposits
Disbursements
6,000,000
5,000,000
All reconciliation items on March 31 cleared through the bank
in April.
Outstanding checks on April 30 totaled P750,000 and deposits
in transit amounted to Pi,500,000.
1. What is the adjusted cash in bank on April 30?
а. 5,650,000
b. 7,150,000
c. 4,650,000
d. 6,400,000
2. What is the cash balance per ledger on April 30?
а. 6,400,000
b. 5,650,000
c. 4,900,000
d. 4,650,000
3 What is the amount of cash receipts per book in April?
а. 5,000,000
b. 6,500,000
c. 7,500,000
d. 5,500,000
4. 'What is the amount of cash disbursements per
book in April?
а. 5,000,000
b. 5,500,000
c. 4,500,000
d. 5,750,000
cs
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Transcribed Image Text:Problem 3-13 (AICPA Adapted) Opaque Company prepared the following bank reconciliation on March 31: 4,650,000 1,000,000 5,650,000 (1,250,000) per bank statement, March 31 Balance Deposit in transit Total Outstanding checks Balance per book, March 31 4,400,000 Data per bank statement for the month of April follow: Deposits Disbursements 6,000,000 5,000,000 All reconciliation items on March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to Pi,500,000. 1. What is the adjusted cash in bank on April 30? а. 5,650,000 b. 7,150,000 c. 4,650,000 d. 6,400,000 2. What is the cash balance per ledger on April 30? а. 6,400,000 b. 5,650,000 c. 4,900,000 d. 4,650,000 3 What is the amount of cash receipts per book in April? а. 5,000,000 b. 6,500,000 c. 7,500,000 d. 5,500,000 4. 'What is the amount of cash disbursements per book in April? а. 5,000,000 b. 5,500,000 c. 4,500,000 d. 5,750,000 cs
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