Check No. 735 is a check of Ikaw Company erroneously charged to Ikaw Company by the bank. Deposit of 10 May per bank statement was erroneously recorded by the inward clearing check. CM is credit memo for loan proceeds released to the depositor: depositor as P 4 500.00 instead of P 4 000.00. SC is service Charge on a returned Additional Information: principal P 60,000.00, interest P 300.00. Cash Receipts Book Cash Disbursement Book Date Amount Date Check No. Amount P8 000.00 2 May 2 May 6 May 9 May 15 May 20 May 24 May 28 May 637 P 900.00 P4 000.00 3 May 638 P8 500.00 9 May 10 May P4 500.00 639 P4 350.00 P7 000.00 640 P2 250.00 641 P2 625.00 20 May 24 May P5 800.00 P 875.00 P6 920.00 642 P3 400.00 P 3 750.00 24 May 643 Required: Prepare a bank reconciliation statement as of 31 May 2018.
Check No. 735 is a check of Ikaw Company erroneously charged to Ikaw Company by the bank. Deposit of 10 May per bank statement was erroneously recorded by the inward clearing check. CM is credit memo for loan proceeds released to the depositor: depositor as P 4 500.00 instead of P 4 000.00. SC is service Charge on a returned Additional Information: principal P 60,000.00, interest P 300.00. Cash Receipts Book Cash Disbursement Book Date Amount Date Check No. Amount P8 000.00 2 May 2 May 6 May 9 May 15 May 20 May 24 May 28 May 637 P 900.00 P4 000.00 3 May 638 P8 500.00 9 May 10 May P4 500.00 639 P4 350.00 P7 000.00 640 P2 250.00 641 P2 625.00 20 May 24 May P5 800.00 P 875.00 P6 920.00 642 P3 400.00 P 3 750.00 24 May 643 Required: Prepare a bank reconciliation statement as of 31 May 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare a bank reconcilation statement as of May 30, 2018
![Check No. 735 is a check of Ikaw Company erroneously charged to Ikaw Company
by the bank. Deposit of 10 May per bank statement was erroneously recorded by the
depositor as P 4 500.00 instead of P 4 000.00. SC is service Charge on a returned
inward clearing check. CM is credit memo for loan proceeds released to the depositor:
Additional Information:
principal P 60,000.00, interest P 300.00.
Cash Receipts Book
Cash Disbursement Book
Date
Amount
Date
Check No.
Amount
2 May
3 May
P8 000.00
2 May
6 May
9 May
15 May
20 May
24 May
637
P 900.00
P4 000.00
638
P8 500.00
9 May
10 May
P4 500.00
639
P4 350.00
P2 250.00
P2 625.00
P 875.00
P6 920.00
P7 000.00
640
641
20 May
24 May
P5 800.00
642
P3 400.00
28 Мay
P 3 750.00
24 May
643
Required: Prepare a bank reconciliation statement as of 31 May 2018.
cs Scanned with Camscanner](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d8e90e3-5528-4f6a-8134-125e37b82661%2Fceef86d4-268e-4646-8e80-d9d3945d7ef5%2Fk4m74xn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Check No. 735 is a check of Ikaw Company erroneously charged to Ikaw Company
by the bank. Deposit of 10 May per bank statement was erroneously recorded by the
depositor as P 4 500.00 instead of P 4 000.00. SC is service Charge on a returned
inward clearing check. CM is credit memo for loan proceeds released to the depositor:
Additional Information:
principal P 60,000.00, interest P 300.00.
Cash Receipts Book
Cash Disbursement Book
Date
Amount
Date
Check No.
Amount
2 May
3 May
P8 000.00
2 May
6 May
9 May
15 May
20 May
24 May
637
P 900.00
P4 000.00
638
P8 500.00
9 May
10 May
P4 500.00
639
P4 350.00
P2 250.00
P2 625.00
P 875.00
P6 920.00
P7 000.00
640
641
20 May
24 May
P5 800.00
642
P3 400.00
28 Мay
P 3 750.00
24 May
643
Required: Prepare a bank reconciliation statement as of 31 May 2018.
cs Scanned with Camscanner
![Activity #5: Let me Help!
Instructions: Solve and answer the reconciliation problem below.
The bank reconciliation statement of Ikaw Company as of 30 April 2018 showed
unadjusted cash balance of P 2,625.00 with a deposit in transit of P 4, 300 00 an
three outstanding as follows:
No. 634
No. 635
P 1,080.00
P 675.00
P 275
No. 636
No debit or credit memorandum was issued by the bank during the month. Shown
below is the bank statement for May.
PHENA ASAH BANK
Current Account of MaryGold Company
Lipa City
Period covered: May 2018
Check
Amount (P)
Deposits (P)
Date
Balance (P)
No.
1 May
2 May
3 May
2 625.00
634
1 080.00
4 300.00
638
8 500.00
8 000.00
9 May
10 May
637
900.00
4 000.00
735
1 650.0
640
2 250.00
10 May
10 May
16 May
23 Мay
25 May
25 May
31 May
31 May
4 000.00
7 000.00
5 800.00
641
2 625.00
100.00
SC
643
6 920.00
3 400.00
639
4 350.00
59 700.00 CM
70 450.00
35 |Page
CS Sed wilh Canst](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d8e90e3-5528-4f6a-8134-125e37b82661%2Fceef86d4-268e-4646-8e80-d9d3945d7ef5%2Fsqix4rp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Activity #5: Let me Help!
Instructions: Solve and answer the reconciliation problem below.
The bank reconciliation statement of Ikaw Company as of 30 April 2018 showed
unadjusted cash balance of P 2,625.00 with a deposit in transit of P 4, 300 00 an
three outstanding as follows:
No. 634
No. 635
P 1,080.00
P 675.00
P 275
No. 636
No debit or credit memorandum was issued by the bank during the month. Shown
below is the bank statement for May.
PHENA ASAH BANK
Current Account of MaryGold Company
Lipa City
Period covered: May 2018
Check
Amount (P)
Deposits (P)
Date
Balance (P)
No.
1 May
2 May
3 May
2 625.00
634
1 080.00
4 300.00
638
8 500.00
8 000.00
9 May
10 May
637
900.00
4 000.00
735
1 650.0
640
2 250.00
10 May
10 May
16 May
23 Мay
25 May
25 May
31 May
31 May
4 000.00
7 000.00
5 800.00
641
2 625.00
100.00
SC
643
6 920.00
3 400.00
639
4 350.00
59 700.00 CM
70 450.00
35 |Page
CS Sed wilh Canst
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