The bookkeeper of Drogon Co. recently prepared the following bank reconciliation: Santa Clara Co. Bank Reconciliation December 31 Balance per bank statement 175,000 Add: Deposit in transit 8,000 Checkbook printing charge 210 Error made in recording check no. 25 (issued in December) 1,500 NSFcheck 5,000 14,710 189,710 Deduct: Outstanding checks 4,500 Note collected by bank (includes P50 interest) 8,000 12,500 Balance per book 177,210 Santa Claire has P9,000 cash on December 31. The amount Drogon should report as cash on the balance sheet as of December 31 should be
The bookkeeper of Drogon Co. recently prepared the following bank reconciliation: Santa Clara Co. Bank Reconciliation December 31 Balance per bank statement 175,000 Add: Deposit in transit 8,000 Checkbook printing charge 210 Error made in recording check no. 25 (issued in December) 1,500 NSFcheck 5,000 14,710 189,710 Deduct: Outstanding checks 4,500 Note collected by bank (includes P50 interest) 8,000 12,500 Balance per book 177,210 Santa Claire has P9,000 cash on December 31. The amount Drogon should report as cash on the balance sheet as of December 31 should be
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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