What is the total outstanding checks on December? a.Balances taken from the company's general ledger:Cash balance, Nov 30637,860576,420Cash balance, Dec 31Receipts, Dec 1-31305,440b. Balances taken from the December bank statement:Bank balance, Nov 30Bank balance, Dec 31Disbursements (debits)685,180637,220356,08064,140c. Outstanding checks, Nov 30 (P26,140 was paid by bank in December)d. Checks written and recorded in December; not included in the checks13Returned with the December bank statement36,080e. Deposit in transit, Nov 3015,260BSA 28f.Deposit in transit, Dec 3116,140g. A bank credit memo was issued in December to correct an erroneousCharge made in Novemberh. Note collected by bank in December (company was not informedOf the collection)A check for P2,020 (payable to a supplier) was recorded in the1,5002,060i.Check Register in December as P3,000980j.A check for P2,240 was charged by the bank as P2,420 in December180k.Bank service charge, Nov 3060

Bank reconciliation statement: It is a statement of the deviation between the organization cash book…

a. Balances taken from the company's general ledger: Cash balance, Nov 30 Cash balance, Dec 31 Receipts, Dec 1-31 637,860 576,420 305,440 b. Balances taken from the December bank statement: Bank balance, Nov 30 Bank balance, Dec 31 Disbursements (debits) 685,180 637,220 356,080 c. Outstanding checks, Nov 30 (P26,140 was paid by bank in December) d. Checks written and recorded in December; not included in the checks 64,140 36,080 15,260 Returned with the December bank statement e. Deposit in transit, Nov 30 f. Deposit in transit, Dec 31 g. A bank credit memo was issued in December to correct an erroneous Charge made in November h. Note collected by bank in December (company was not informed Of the collection) i. A check for P2,020 (payable to a supplier) was recorded in the Check Register in December as P3,000 j. A check for P2,240 was charged by the bank as P2,420 in December k. Bank service charge, Nov 30 16,140 1,500 2,060 980 180 60

a. Balances taken from the company's general ledger: Cash balance, Nov 30 Cash balance, Dec 31 Receipts, Dec 1-31 637,860 576,420 305,440 b. Balances taken from the December bank statement: Bank balance, Nov 30 Bank balance, Dec 31 Disbursements (debits) 685,180 637,220 356,080 c. Outstanding checks, Nov 30 (P26,140 was paid by bank in December) d. Checks written and recorded in December; not included in the checks 64,140 36,080 15,260 Returned with the December bank statement e. Deposit in transit, Nov 30 f. Deposit in transit, Dec 31 g. A bank credit memo was issued in December to correct an erroneous Charge made in November h. Note collected by bank in December (company was not informed Of the collection) i. A check for P2,020 (payable to a supplier) was recorded in the Check Register in December as P3,000 j. A check for P2,240 was charged by the bank as P2,420 in December k. Bank service charge, Nov 30 16,140 1,500 2,060 980 180 60

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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