Professional Documents
Culture Documents
Less Auditing Receivable
Less Auditing Receivable
At what amount will the account “Cash” appear on the December 31, 2006 balance
sheet?
a. P1,425,000
b. P1,495,000
c. P1,315,000
d. P1,725,000
Total P1,425,000
PROBLEM 1-2
* A customer check amounting to P200,000 dated January 2, 2016 was included in the
December 31, 2015 check book balance.
* A P400,000 check payable to supplier date and recorded on December 30, 2015 was
mailed on January 16, 2016.
* Another customer check for P500,000 deposited on December 22, 2015 was included
in the checkbook balance but returned by the bank for insufficiency of fund. This check
was redeposited on December 26, 2015 and cleared two days after.