A. Prepare a bank reconciliation statement for Falfacation Merchandising for the month of December, 20101 Balance per bank statement amounted to P72, 100 as of December 31, 20102 Balance per ledger account is P72,734 as of December 31, 20103 Deposit in Transit P2, 100,7 Non-interest bearing note collected by the bank, P15,0008 A check issued to Maynilad amounting P1,250 remains uncancelled as of reconciliation date9 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 September1 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 18,750.00Ganda PhotographyTulips, etcJasmine Crepes and Pastries3 Balance per bank statement amounted to P204,300 as of September 30, 20104 The bank posted a deposit as P8,546 instead of the correct amount of PB, 6455 Your Moment Wedding planner received a debit memo from the bank informing themregarding the check of a client that is "Drawn Against Insufficient Fund"amounting to P43, 1106 The newly hired bookeeper inadvertently recorded a check payment to Maynilad twiceamounting to P545.7 The bank sent a credit memorandum informing the company of a collection fromInterest fora dient's Promissory note amounting to P25, 100 plus an annual 10% interest computed at 10 monthsThe bank also sent a debit memorand un amounting to P500 for the service charge for said collection8 Several Checks issued by Your Moment Wedding Planner have not yet been en cashed nor4 A check payment of an account amounting to P7,887.00 was mistakenly recorded as P8,778.00by 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. Actionas payment to a supplierMardeposited by the payeescheck no 3435122check no 3435123C Record the following transactions.MarMarcheck no 34351279 The bank charged the company for the rent of several safety deposit boxes amounting to P5,449.6710 A check issued by the companyto Laff Top Computer Co amounting to P34,999 as payment on an accountwas recorded as P25,097MarMar11 A check deposit by Your Momentum was mistakenly included by the bank in the company's accountamounting to P2,700.6-25 Paid for the followingFood for the visitorsP5 Established a Petty Cash Fund amounting to P4,000Flowers for Gen ManagerParking Fees and Toll gate feesIOU of employeeOffice supplies26 Replenished Petty CashP27 Increased PCF by P2,25028-31 Paid for the followingMayniladOffice supplies10,300.0022,150.00Cash on hand totalled P150.0011,101.006,213.0015,790.00P1,199.00750.00201.501,000.00723.00850.00425.00April 1-22 Paid for the followingOffice suppliesRepair of equipmentIOU of emplyeeApril2,122.001,250.001,500.0023 Replenished petty cash fundCash on hand totalled P100.00

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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

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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