Balazo Company provided the following data for the month of January: Balance per book, January 31 3,130,000 Balance per bank statement, January 31 3,500,000 Collections on January 31 but not deposited 550,000 NSF check received from a customer returned by the Bank on February 5 with the January bank statement 50,000 Checks outstanding on January 31 650,000 Bank debit memo for safety deposit box rental not recorded By depositor 5,000 A creditor check for P30,000 was incorrectly recorded in the Depositor’s book as 300,000 A customer check for P200,000 was recorded by the Depositor as 20,000 The depositor neglected to make an entry in its books for a Check drawn in payment of an account payable 125,000 5. What is the adjusted cash in bank on January 31?
Balazo Company provided the following data for the month of January:
Balance per book, January 31 3,130,000
Balance per bank statement, January 31 3,500,000
Collections on January 31 but not deposited 550,000
NSF check received from a customer returned by the
Bank on February 5 with the January bank statement 50,000
Checks outstanding on January 31 650,000
Bank debit memo for safety deposit box rental not recorded
By depositor 5,000
A creditor check for P30,000 was incorrectly recorded in the
Depositor’s book as 300,000
A customer check for P200,000 was recorded by the
Depositor as 20,000
The depositor neglected to make an entry in its books for a
Check drawn in payment of an account payable 125,000
5. What is the adjusted cash in bank on January 31?
Barotil Company provided the following information for the month of December:
Balance per bank statement 4,000,000
Balance per
Outstanding Checks 600,000
Deposit in Transit 475,000
Service Charge 10,000
Proceeds of bank loan, December 1, discounted for
6 months at 12% not recorded on company books 940,000
Customer’s check charged back by bank for absence of
Counter signature 50,000
Deposit of P100,000 incorrectly recorded by bank as 10,000
Check of Buendia Company charged by bank against Barotil
Company Account 150,000
Customer’s Note collected by bank in favor of Barotil
Company
Face 400,000
Interest 40,000
Total 440,000
Collection Fee 5,000 435,000
Erroneous debit memo of December 28, to charge company’s
Account with settlement of bank loan 200,000
Deposit of Buendia Company credited to Barotil Company 300,000
6. What is the adjusted cash in bank on December 31?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
