Aqua Company prepared the following bank reconciliation on June 30. Balance per bank 9,800,000 Deposit in transit Outstanding checks Balance per book There were total deposits of P6,500,000 and charges for disbursements of P9,000,000 for July per bank statement. All reconciliation items on June 30 cleared the bank on July 31. Deposit in transit totaled P600,000 and checks outstanding amounted to P1,000,000 on July 31. What is the amount of cash disbursements per book in July? 400,000 (1,400,000) 8,800,000

Aqua Company prepared the following bank reconciliation on June 30. Balance per bank 9,800,000 Deposit in transit Outstanding checks Balance per book There were total deposits of P6,500,000 and charges for disbursements of P9,000,000 for July per bank statement. All reconciliation items on June 30 cleared the bank on July 31. Deposit in transit totaled P600,000 and checks outstanding amounted to P1,000,000 on July 31. What is the amount of cash disbursements per book in July? 400,000 (1,400,000) 8,800,000

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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You are auditing the cash in bank account of XXX Corporation as of December 31, 2021. Your examination revealed the following: From the bank statement: Balance, December 1, 2021 P 876,750 Deposits (20) 9,153,760 Checks (64) plus debit memos (8,524,300) Service charges for new checks 2,250) Balance, December 31, 2021 P 1,503,960 From the company's records: CASH Particulars Debit Particulars Credit Nov. 1 P 652,070 Nov. 30 CD P 6,654,410 Nov. 30 CR 6,824,290 Dec. 1 - bank reconciliation 38,400 Dec. 31 CR 9,198,720 Dec. 31 CD 8,574,610 CD – cash disbursements CR – cash receipts
Using the following information, prepare a bank reconciliation. Bank balance: $6,788 Book balance: $6,228 Deposits in transit: $1,712 Outstanding checks: $569 and $1,623 Bank charges: $50 Bank incorrectly charged the account $50. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense. Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance
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22.) The following information was included in the bank reconciliation for Bayside Company for October and November 2013: Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 550,000 Service charge made by bank in October and recorded by depositor in November 2,000 Total credits to cash in all journals during November 620,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 40,000 Outstanding checks on October 31,2013 that cleared in November 230,000 What is the amount of outstanding checks on November 30,2013? a 282.000 b. 300,000 c. 322,000 d. 302,000 23 Tam Companu providing the hank roconciliation on May31
Thompson Company gathered the following reconciling information in preparing its October bank reconciliation. Cash balance per bank, October 31 Note receivable collected by bank Outstanding checks Deposits in transit Bank service charge NSF check Determine the cash balance per company records (before adjustment) on October 31. a. $10,663 b. $28,548 $14,699 3,875 9,784 4,065 226 1,966 c. $7,297 d. $8,980
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Prepare a bank reconciliation from the following information:a. Balance per bank statement as of May 31, $17,755.44b. Balance per books as of May 31, $12,211.94c. Deposits in transit, $2,254.81d. Outstanding checks, $7,819.16e. Bank service charge, $20.85
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Using the following information, prepare a bank reconciliation. Bank balance: $6,788 Book balance: $6,525 Deposits in transit: $1,688 Outstanding checks: $569 and $1,523 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $245 but posted in the accounting records as $254. This check was expensed to Utilities Expense. Bank Reconciliation Bank Statement Balance at (date) $fill in the blank 1 Add: Deposits in Transit Outstanding Checks Less: - Select - Adjusted Bank Balance $fill in the blank 8 Book Balance at (date) $fill in the blank 9 Add: - Select - Less: - Select - Adjusted Book Balance $fill in the blank 14
Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Determine the adjusted balance on May 31. Cash balance per company records, May 31 $4,119 Deposits in transit 157 Notes receivable and interest collected by bank 840 Bank charge for check printing 27 Outstanding checks 1,081 NSF check 188 a.$3,847 b.$4,744 c.$997 d.$3,195