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The cash account of TEDDIE SALAZAR CORPORATION is overstated by P1,950,100 based on the ledger balances provided. Various ledger balances need to be reclassified including operating expenses, investments, notes receivable, and restricted cash. After reclassification, the adjusted cash and cash equivalents balance is P618,800. For BAKIT PARANG KASALANAN KO CORP., the correct cash balances based on additional bank statement information are: cash in bank as of November 30 is P1,113,600; deposits in transit a

Author

Edlyn Liwag

Language

EN