Entity A is preparing its March 31, 20x1 bank reconciliation. The followinginformation was determined: a.The cash balance per books is₱280,000 while the cash balance per bank statement is₱320,000. b.Credit memo–₱20,000 c.Debit memo –₱15,000 d.Deposits in transit –₱75,000 e.Outstanding checks –₱25,000 f.The disbursements per books are overstated by₱45,000. g.The bank debits are understated by₱40,000. Requirement:Prepare the bank reconciliation.
Entity A is preparing its March 31, 20x1 bank reconciliation. The followinginformation was determined: a.The cash balance per books is₱280,000 while the cash balance per bank statement is₱320,000. b.Credit memo–₱20,000 c.Debit memo –₱15,000 d.Deposits in transit –₱75,000 e.Outstanding checks –₱25,000 f.The disbursements per books are overstated by₱45,000. g.The bank debits are understated by₱40,000. Requirement:Prepare the bank reconciliation.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5DQ
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Entity A is preparing its March 31, 20x1 bank reconciliation. The followinginformation was determined:
a.The cash balance per books is₱280,000 while the cash balance per bank statement is₱320,000.
b.Credit memo–₱20,000
c.Debit memo –₱15,000
d.Deposits in transit –₱75,000
e.Outstanding checks –₱25,000
f.The disbursements per books are overstated by₱45,000.
g.The bank debits are understated by₱40,000.
Requirement:Prepare the bank reconciliation.
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