Learning Task 5 Directions: Using the information below, prepare a Bank Reconciliation Statement. Bank reconciliation problem: • The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2015. • On this date the balance of cash per books is P11,589.45. • Additional information are provided below: Deposits in transit: April 30 deposit (received by the bank on May 1) P2,201.40 Outstanding checks: No. 453-P3,000.00 No. 457-P1,401.30 No. 460-P1,502.70 • Errors: Juan wrote check no. 443 for P1,226.00 and the bank correctly paid that amount. However, he recorded the check as P1,262.00. • Bank memoranda: Debit– NSF check from Pedro P425.60 Debit– Charge for printing company checks P30.00 Credit – Collection of note receivable for P1,000 plus interest earned of P50, less bank collection fee of P15.00. Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor. Bank Credit Memo are additions made by the bank to the account of the deposito
Learning Task 5
Directions: Using the information below, prepare a
Bank reconciliation problem:
• The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2015.
• On this date the balance of
• Additional information are provided below:
Deposits in transit: April 30 deposit (received by the bank on May 1) P2,201.40
Outstanding checks: No. 453-P3,000.00 No. 457-P1,401.30 No. 460-P1,502.70
• Errors: Juan wrote check no. 443 for P1,226.00 and the bank correctly paid that amount. However, he recorded the check
as P1,262.00.
• Bank memoranda:
Debit– NSF check from Pedro P425.60
Debit– Charge for printing company checks P30.00
Credit – Collection of note receivable for P1,000 plus interest earned of P50, less bank collection fee of P15.00.
Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor.
Bank Credit Memo are additions made by the bank to the account of the deposito
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