ABC Co. is preparing its Sept. 30, 2019 bank reconciliation. The following information was determined: a. Balance per bank statement, Sept. 30, 2019 - P180,000 Deposit in transit, Sept. 20, 2019 - P32,000 b. c. Return of customer's check due to insufficient funds (NSF check), Sept. 30, 2019 - P60,000 Balance per books Sept, 30, 2019 - P143,000 Outstanding checks, Sept. 30, 2019 - P27,000 A collection of P320,000 was recorded in the books as P230,000. The bank statement shows the correct amount of P320,000. g. The bank erroneously credited a P12,000 deposit of Eye Busy Co. to ABC's account d. e. f.
ABC Co. is preparing its Sept. 30, 2019 bank reconciliation. The following information was determined: a. Balance per bank statement, Sept. 30, 2019 - P180,000 Deposit in transit, Sept. 20, 2019 - P32,000 b. c. Return of customer's check due to insufficient funds (NSF check), Sept. 30, 2019 - P60,000 Balance per books Sept, 30, 2019 - P143,000 Outstanding checks, Sept. 30, 2019 - P27,000 A collection of P320,000 was recorded in the books as P230,000. The bank statement shows the correct amount of P320,000. g. The bank erroneously credited a P12,000 deposit of Eye Busy Co. to ABC's account d. e. f.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:ABC Co. is preparing its Sept. 30, 2019 bank reconciliation.
The following information was determined:
a. Balance per bank statement, Sept. 30, 2019 - P180,000
Deposit in transit, Sept. 20, 2019 - P32,000
b.
C.
Return of customer's check due to insufficient funds
(NSF check), Sept. 30, 2019 - P60,000
d. Balance per books Sept, 30, 2019 - P143,000
e. Outstanding checks, Sept. 30, 2019 - P27,000
f.
A collection of P320,000 was recorded in the books as
P230,000. The bank statement shows the correct
amount of P320,000.
g. The bank erroneously credited a P12,000 deposit of
Eye Busy Co. to ABC's account
Requirement: Prepare the bank reconciliation
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