User Account

All Pages

What is the total amount of the outstanding checks

Assignment Help Accounting Basics
Reference no: EM133157476

Question - On July 5, 2022, Verstappen Company received its bank statement of the month ending June 30. The statement showed a P209,500 balance while the cash account balance on June 30 was P35,000. In reconciling the balances, the following items were discovered:

1. The June 30 collections of P176,000 were recorded on the books but were not deposited until July.

2. The bank service charges for the month of June totalled P3,000.

3. A paid check for P24,300 was entered incorrectly in the cash payments journal as P34,200.

Required - What is the total amount of the outstanding checks on June 30, 2022?

Reference no: EM133157476

Questions Cloud

Indicate the type of accounting change : In your report, indicate the type of accounting change (change in accounting policy or change in estimate) or correction of error
Components of emotional intelligence : Analyze the five components of emotional intelligence and their relationship to transformational leadership.
Identify the ethical issues that sasha clarke might face : Identify the ethical issues/threats that Sasha Clarke might face in this situation and what should she do
What is the depreciation expense : At its fiscal year-end on December 31, 2021 the fair value of the building is assessed to be $95,000. What is the 2022 depreciation expense
What is the total amount of the outstanding checks : The bank service charges for the month of June totalled P3,000. What is the total amount of the outstanding checks on June 30, 2022
What is the present value of a security : If the interest rate is 10%, what is the present value of a security that pays you $24,200 next year and $43,923 two years from now
Creating procurement plan for your homebuilding project : Creating the procurement plan for your homebuilding project, and you are considering doing some of the work painting in the living room and bedrooms,
HNCB43 Hydraulics for Civil Engineering Assignment : HNCB43 Hydraulics for Civil Engineering Assignment Help and Solution, Higher National Certificate/Diploma in Construction and the Built Environment - Assessment
What is the amount of the net working capital : A firm has $1,150 in inventory, $2,500 in fixed assets, $1,500 in accounts receivable, $930 in accounts payable, What is the amount of the net working capital

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd