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  • Accounting 3-8 Valix Book Answer

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    Ralph Jason Lopez
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    The document shows accounting records for book and bank balances for September 30 and October 31, including receipts, disbursements, and adjustments. It summarizes the opening and closing balances, receipts and payments, as well as corrections for NSF checks, errors in accounts receivable and overstated checks, showing the adjusted balances match between the book and bank at the beginning and end of each period.

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    This the answers for the accounting problem 3-8 in the book Valix Intermediate Accounting 1

    Original Title

    Accounting 3-8 Valix book answer

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    The document shows accounting records for book and bank balances for September 30 and October 31, including receipts, disbursements, and adjustments. It summarizes the opening and closing balances, receipts and payments, as well as corrections for NSF checks, errors in accounts receivable and overstated checks, showing the adjusted balances match between the book and bank at the beginning and end of each period.

    Copyright:

    © All Rights Reserved
    Download as ODS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    36 views2 pages

    Accounting 3-8 Valix Book Answer

    Uploaded by

    Ralph Jason Lopez
    The document shows accounting records for book and bank balances for September 30 and October 31, including receipts, disbursements, and adjustments. It summarizes the opening and closing balances, receipts and payments, as well as corrections for NSF checks, errors in accounts receivable and overstated checks, showing the adjusted balances match between the book and bank at the beginning and end of each period.

    Copyright:

    © All Rights Reserved
    Download as ODS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    September 30 Receipts Disbursements October31

    Book balance 1900000 1400000 2400000 900000


    NSF check
    September -60000 -60000
    October 40000 -40000
    Error:
    Collection of Accounts Receivable
    September 30000 -30000
    October 50000 50000
    Overstated Check
    September 90000 -90000
    October -120000 120000
    Adjusted Book Balance 1960000 1330000 2260000 1030000

    September 30 Receipts Disbursements October 31


    Bank balance 2100000 1200000 2500000 800000
    Deposit in Transit
    September 130000 -130000
    October 260000 260000
    Outstanding Check
    September -270000 -270000
    October 30000 -30000
    Adjusted Bank Balance 1960000 1330000 2260000 1030000

    Accounts receivable 40000


    Cash in bank 40000

    Cash in bank 50000


    Accounts receivable 50000

    Cash in bank 120000


    Salaries 120000
    answers in Valix 2020 book problem 3-8

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