Prepare a bank reconciliation statement for Juan Company for the month of April 2020, using the following information: • The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2020. • On this date the balance of cash per books is P11,589.45 • Additional information are provided below: o Deposits in transit: April 30 deposits (received by the bank on May 1) P2,201.40 o Outstanding checks: • No.453 – P3,000.00 No.457 - P1,401.30 • No.460 – P1,502.70 o Errors: Juan wrote check no.443 for P1,226.00 and the bank correctly paid the amount. However, he recorded the check as P1,262.00. o Bank memoranda: • Debit - NSF check from Pedro P425.60 Debit - Charge for printing company checks P30.00 Credit – Collection of notes receivable for P1,000.00 plus interest earned of p50.00, less bank collection fee of P15.00
Prepare a bank reconciliation statement for Juan Company for the month of April 2020, using the following information: • The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2020. • On this date the balance of cash per books is P11,589.45 • Additional information are provided below: o Deposits in transit: April 30 deposits (received by the bank on May 1) P2,201.40 o Outstanding checks: • No.453 – P3,000.00 No.457 - P1,401.30 • No.460 – P1,502.70 o Errors: Juan wrote check no.443 for P1,226.00 and the bank correctly paid the amount. However, he recorded the check as P1,262.00. o Bank memoranda: • Debit - NSF check from Pedro P425.60 Debit - Charge for printing company checks P30.00 Credit – Collection of notes receivable for P1,000.00 plus interest earned of p50.00, less bank collection fee of P15.00
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 16P
Related questions
Question
![ASSESSMENT
Prepare a bank reconciliation statement for Juan Company for the month of April 2020, using
the following information:
• The bank statement for Juan Company shows a balance per bank of P15,907.45 on
April 30,2020.
On this date the balance of cash per books is P11,589.45
• Additional information are provided below:
o Deposits in transit: April 30 deposits (received by the bank on May 1) P2,201.40
o 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 the
amount. However, he recorded the check as P1,262.00.
Bank me
da:
Debit - NSF check from Pedro P425.60
Debit - Charge for printing company checks P30.00
Credit – Collection of notes receivable for P1,000.00 plus interest
earned of P50.00, less bank collection fee of P15.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa533d064-a408-4816-9543-8fc8c5199e53%2F392e0756-ffef-484f-9f37-cf07d9ece6d4%2Fckkth7s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ASSESSMENT
Prepare a bank reconciliation statement for Juan Company for the month of April 2020, using
the following information:
• The bank statement for Juan Company shows a balance per bank of P15,907.45 on
April 30,2020.
On this date the balance of cash per books is P11,589.45
• Additional information are provided below:
o Deposits in transit: April 30 deposits (received by the bank on May 1) P2,201.40
o 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 the
amount. However, he recorded the check as P1,262.00.
Bank me
da:
Debit - NSF check from Pedro P425.60
Debit - Charge for printing company checks P30.00
Credit – Collection of notes receivable for P1,000.00 plus interest
earned of P50.00, less bank collection fee of P15.00
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781305088436/9781305088436_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning