FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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PROOF OF CASH PROBLEM
Pacho Enterprises has the following information about cash account
Bank balance, beginning ( 11,500.00)
Bank receipts ( 125,000.00)
Bank wihdrawal ( 50,000.00)
Book balance, beginning ( 9,000.00)
Deposit in transits last month ( 2,000.00)
Deposit in transits this month ( 4,500.00)
Total collections during the month ( 32,500.00)
Total disbursements during the month ( 49,900.00)
Uncleared checks last month ( 5,000.00)
Uncleared checks this month ( 7,500.00)
Additional information
1 Macho check was debited to our bank account ( 6,600.00)
2 The bank debited our account as service charge for the month ( 1,000.00)
3 Last month bank services charged were not adjusted ( 500.00)
4 Bank credited the loan proceeds net of P5000 as interest ( 95,000.00)
5 The company owned check was returned due to last of signature ( 5,000.00)
Required:P
A. Proof of cash statement
B.
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