Assignment 3 ACFAR 1231 Proof of Cash
Assignment 3 ACFAR 1231 Proof of Cash
Assignment 3 ACFAR 1231 Proof of Cash
Problem 1:
During the month of November, the bank corrected the P100,000 error committed in prior month.
The entity recorded as cash receipts a customer note receivable of P100,000 placed with the bank for
collection on November 30. The note was not collected until the subsequent month.
Required:
Mixy Company provided the following data concerning the cash records for the month of September
and October.
September 30 October 31
Book balance 1,900,000 ?
Total cash receipts per book 1,400,000
Total cash disbursement per book 2,400,000
Required: