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A. Prepare a bank reconciliation statement for Falfacation Merchandising for the month of December, 2010 1 Balance per bank statement amounted to P72,100 as of December 31, 2010 2 Balance per ledger account is P72,734 as of December 31, 2010 3 Deposit in Transit P2,100. 4 A check payment of an account amounting to P7,887.00 was mistakenly recorded as P8,778.00 by the bookeeper. 5 A customer's check was marked insufficient and was returned to the company amounting to P3,999. The bank charged the company P200 for the check booklet requested. 6 The bank mistakenly charged the company P12,000 which was supposedly a check issued by F. Action as payment to a supplier 7 Non-interest bearing note collected by the bank, P15,000 8 A check issued to Maynilad amounting P1,250 remains uncancelled as of reconciliation date 9 The bookeeper had erroneously overstated one of its cash collection of P8 479 by P21. 10 Received a credit memo from the bank informing the company of bank interest income of P545.

A. Prepare a bank reconciliation statement for Falfacation Merchandising for the month of December, 2010 1 Balance per bank statement amounted to P72,100 as of December 31, 2010 2 Balance per ledger account is P72,734 as of December 31, 2010 3 Deposit in Transit P2,100. 4 A check payment of an account amounting to P7,887.00 was mistakenly recorded as P8,778.00 by the bookeeper. 5 A customer's check was marked insufficient and was returned to the company amounting to P3,999. The bank charged the company P200 for the check booklet requested. 6 The bank mistakenly charged the company P12,000 which was supposedly a check issued by F. Action as payment to a supplier 7 Non-interest bearing note collected by the bank, P15,000 8 A check issued to Maynilad amounting P1,250 remains uncancelled as of reconciliation date 9 The bookeeper had erroneously overstated one of its cash collection of P8 479 by P21. 10 Received a credit memo from the bank informing the company of bank interest income of P545.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
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A. Prepare a bank reconciliation statement for Falfacation Merchandising for the month of December, 2010 1 Balance per bank statement amounted to P72, 100 as of December 31, 2010 2 Balance per ledger account is P72,734 as of December 31, 2010 3 Deposit in Transit P2, 100, 7 Non-interest bearing note collected by the bank, P15,000 8 A check issued to Maynilad amounting P1,250 remains uncancelled as of reconciliation date 9 The bookeeper had erroneously overstated one of its cash collection of P8,479 by P21. 10 Received a credit memo from the bank informing the company of bank interest income of P545. B. Prepare a bank reconciliation statement for the Your Moment Wedding Planner for the month of September 1 Balance per ledger account is P251,020 as of September 30, 2010. 2 Deposits not yet entered as bank deposits because of the clearing time. P 18,750.00 Ganda Photography Tulips, etc Jasmine Crepes and Pastries 3 Balance per bank statement amounted to P204,300 as of September 30, 2010 4 The bank posted a deposit as P8,546 instead of the correct amount of PB, 645 5 Your Moment Wedding planner received a debit memo from the bank informing them regarding the check of a client that is "Drawn Against Insufficient Fund" amounting to P43, 110 6 The newly hired bookeeper inadvertently recorded a check payment to Maynilad twice amounting to P545. 7 The bank sent a credit memorandum informing the company of a collection fromInterest for a dient's Promissory note amounting to P25, 100 plus an annual 10% interest computed at 10 months The bank also sent a debit memorand un amounting to P500 for the service charge for said collection 8 Several Checks issued by Your Moment Wedding Planner have not yet been en cashed nor 4 A check payment of an account amounting to P7,887.00 was mistakenly recorded as P8,778.00 by the bookeeper. 5 A customer's check was marked insufficient and was returned to the company amounting to P3,999. The bank charged the company P200 for the check booklet requested. 6 The bank mistakenly charged the company P12,000 which was supposedly a check issued by F. Action as payment to a supplier Mar deposited by the payees check no 3435122 check no 3435123 C Record the following transactions. Mar Mar check no 3435127 9 The bank charged the company for the rent of several safety deposit boxes amounting to P5,449.67 10 A check issued by the companyto Laff Top Computer Co amounting to P34,999 as payment on an account was recorded as P25,097 Mar Mar 11 A check deposit by Your Momentum was mistakenly included by the bank in the company's account amounting to P2,700. 6-25 Paid for the following Food for the visitors P 5 Established a Petty Cash Fund amounting to P4,000 Flowers for Gen Manager Parking Fees and Toll gate fees IOU of employee Office supplies 26 Replenished Petty Cash P 27 Increased PCF by P2,250 28-31 Paid for the following Maynilad Office supplies 10,300.00 22,150.00 Cash on hand totalled P150.00 11,101.00 6,213.00 15,790.00 P 1,199.00 750.00 201.50 1,000.00 723.00 850.00 425.00 April 1-22 Paid for the following Office supplies Repair of equipment IOU of emplyee April 2,122.00 1,250.00 1,500.00 23 Replenished petty cash fund Cash on hand totalled P100.00
Transcribed Image Text:A. Prepare a bank reconciliation statement for Falfacation Merchandising for the month of December, 2010 1 Balance per bank statement amounted to P72, 100 as of December 31, 2010 2 Balance per ledger account is P72,734 as of December 31, 2010 3 Deposit in Transit P2, 100, 7 Non-interest bearing note collected by the bank, P15,000 8 A check issued to Maynilad amounting P1,250 remains uncancelled as of reconciliation date 9 The bookeeper had erroneously overstated one of its cash collection of P8,479 by P21. 10 Received a credit memo from the bank informing the company of bank interest income of P545. B. Prepare a bank reconciliation statement for the Your Moment Wedding Planner for the month of September 1 Balance per ledger account is P251,020 as of September 30, 2010. 2 Deposits not yet entered as bank deposits because of the clearing time. P 18,750.00 Ganda Photography Tulips, etc Jasmine Crepes and Pastries 3 Balance per bank statement amounted to P204,300 as of September 30, 2010 4 The bank posted a deposit as P8,546 instead of the correct amount of PB, 645 5 Your Moment Wedding planner received a debit memo from the bank informing them regarding the check of a client that is "Drawn Against Insufficient Fund" amounting to P43, 110 6 The newly hired bookeeper inadvertently recorded a check payment to Maynilad twice amounting to P545. 7 The bank sent a credit memorandum informing the company of a collection fromInterest for a dient's Promissory note amounting to P25, 100 plus an annual 10% interest computed at 10 months The bank also sent a debit memorand un amounting to P500 for the service charge for said collection 8 Several Checks issued by Your Moment Wedding Planner have not yet been en cashed nor 4 A check payment of an account amounting to P7,887.00 was mistakenly recorded as P8,778.00 by the bookeeper. 5 A customer's check was marked insufficient and was returned to the company amounting to P3,999. The bank charged the company P200 for the check booklet requested. 6 The bank mistakenly charged the company P12,000 which was supposedly a check issued by F. Action as payment to a supplier Mar deposited by the payees check no 3435122 check no 3435123 C Record the following transactions. Mar Mar check no 3435127 9 The bank charged the company for the rent of several safety deposit boxes amounting to P5,449.67 10 A check issued by the companyto Laff Top Computer Co amounting to P34,999 as payment on an account was recorded as P25,097 Mar Mar 11 A check deposit by Your Momentum was mistakenly included by the bank in the company's account amounting to P2,700. 6-25 Paid for the following Food for the visitors P 5 Established a Petty Cash Fund amounting to P4,000 Flowers for Gen Manager Parking Fees and Toll gate fees IOU of employee Office supplies 26 Replenished Petty Cash P 27 Increased PCF by P2,250 28-31 Paid for the following Maynilad Office supplies 10,300.00 22,150.00 Cash on hand totalled P150.00 11,101.00 6,213.00 15,790.00 P 1,199.00 750.00 201.50 1,000.00 723.00 850.00 425.00 April 1-22 Paid for the following Office supplies Repair of equipment IOU of emplyee April 2,122.00 1,250.00 1,500.00 23 Replenished petty cash fund Cash on hand totalled P100.00
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