The following data maybe few of your considerations to determine the beginning balance of the outstanding checks: total checks issued by the company 1,900,000; total bank debits P1,790,500; bank service charge for the current month P2,500; NSF check returned by the bank for the current month P40,000; Outstanding check at the end of the period is P222,000. Compute the outstanding check beginning of the period.
The following data maybe few of your considerations to determine the beginning balance of the outstanding checks: total checks issued by the company 1,900,000; total bank debits P1,790,500; bank service charge for the current month P2,500; NSF check returned by the bank for the current month P40,000; Outstanding check at the end of the period is P222,000. Compute the outstanding check beginning of the period.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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The following data maybe few of your considerations to determine the beginning balance of the outstanding checks: total checks issued by the company 1,900,000; total bank debits P1,790,500; bank service charge for the current month P2,500; NSF check returned by the bank for the current month P40,000; Outstanding check at the end of the period is P222,000.
Compute the outstanding check beginning of the period.
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