. The adjusted balance per book is b. The adjusted balance per bank is
Goose Company has gathered the following information in relation to its checking account in BDO for the month
of April
Balance per books April 30, P750,000; per bank statement April 30, P815,000
Deposits still in transit at April 30 was P80,000
NSF checks returned by the bank in April was P90,000 and April charges amounted to P20,000
Checks issued but have not yet cleared by April 30 was P50,000
Proceeds from loan directly credited to Goose Company's account amounted to P200,000, while interest
on deposits amounted to P5,000
a. The adjusted balance per book is
b. The adjusted balance per bank is
9. The cash account of Iguana Company disclosed a balance of P1,128,240 on October 31, while the bank
statement showed a balance of P1,470,300. Comparing the statement with the cash records, the following facts
were developed
Customer's note discounted on October 12; dishonored October 26 and the bank charge Iguana
Company, P305,000 which included a service charge of P5,000
Customer's check for P90,000 erroneously credited by the bank in another account. Iguana Company
correctly recorded this payment by customer
Check drawn against Iguana Company dated October 1 for P79,500 was erroneously debited by the bank
as P97,500
Receipts from October 31 for P685,000 were deposited in the night depository box of the bank. It was not
recorded by the bank until November 1
Check drawn against Iguana Company dated October 12 for P27,000 was erroneously debited by the
bank as P2,700
A bank memo stated that a customer's note for P250,000 and interest of P6,250 had been collected on
October 29, and the bank charged P1,250 as service fee. No entry was made on the books when the note
was sent to the bank for collection
Check number 5566 for P124,250 was entered in the cash disbursements journal at P122,450
Bank charges of P3,000 in October, not yet recorded on the books
Iguana's account was charged on October 26 for a customer's uncollectible check amounting to P114,300
Check number 5599 for P3,290 was entered as P32,900
Customer's check for P12,500 was entered as P1,250 by both the depositor and the bank. The bank has
corrected the error by the end of October
Outstanding checks during October amounted to P1,239,000
a. The adjusted balance per book is
b. The adjusted balance per bank is
10. The following format was to be used in preparing of the two-date bank reconciliation for Monkey Company
Balance
November 30
December
receipts
December
disbursements
Balance
December
31
Balance per bank statement xx Xx xx xx
Items to be added: (1) (2) (3) (4)
Items to be deducted: (5) (6) (7) (8)
Adjusted bank balance xx Xx xx Xx
Balance per books xx Xx xx xx
Items to be added: (9) (10) (11) (12)
Items to be deducted: (13) (14) (15) (16)
Adjusted book balance xx Xx xx xx
Indicate in which the reconciling items would appear
___ a. Erroneous bank debit of P5,000 in November was corrected by the bank in
December
___ b. In December, checks amounting to P6,000 of another company was
erroneously debited against Monkey Company's bank balance
___ c. Erroneous bank credit of P7,000 in November was corrected by the bank in
December
___ d. The bank credited Monkey Company's account for P8,000 in December for a
deposit of another company
___ e. Monkey Company's checks of P9,000 issued and cleared in November was
erroneously debited to another company. Corrections were made by the
bank in December
___ f. Check drawn in November in payment of accounts payable cleared in
December amounting to P1,400 was recorded by the bookkeeper as
P14,000
___ g. Check drawn in December in payment of accounts payable for P1,500 was
recorded in the disbursement journal as P15,000
___ h. Costumer's checks for P16,000 deposited and cleared in November was
erroneously recorded by the bookkeeper as P1,600. Corrections were made
in December
___ i. Direct payments made costumers in December P17,000 not yet recorded by
the book
___ j. Erroneous bank debit of P18,000 in December was corrected by the bank in
December
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