The following information pertains to EXCELLENT Company as of December 31, 2020: Cash balance per bank statement P4,000,000 Checks outstanding (including certified check of P100,000) 500,000 Bank service charge shown in December bank statement 20,000 Error made by EXCELLENT in recording a check that cleared the bank in December (cieck was drawn for P100,000 but recorded at P10,000) 90,000 Deposit in transit 1,300,000 What is the cash balance per ledger on December 31, 2020?

The following information pertains to EXCELLENT Company as of December 31, 2020: Cash balance per bank statement P4,000,000 Checks outstanding (including certified check of P100,000) 500,000 Bank service charge shown in December bank statement 20,000 Error made by EXCELLENT in recording a check that cleared the bank in December (cieck was drawn for P100,000 but recorded at P10,000) 90,000 Deposit in transit 1,300,000 What is the cash balance per ledger on December 31, 2020?

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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