— Prepare bank reconciliation statement for the month of August. — Prepare the adjusting entries.
— Prepare bank reconciliation statement for the month of August. — Prepare the adjusting entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
— Prepare
— Prepare the

Transcribed Image Text:Cash bałance per accounting period
Cash balance per bank statement
Bank service charge
1,719,000
3,195,000
10,000
Debit memo for the cost of printed checks delivered
by the bank, the charge has not been recorded
in the accounting record
12,000
685,000
500,000
Outstanding checks
Deposit of May 30 not recorded by bank until June 1
Proceeds of bank loan on May 30, not recorded in the
accounting record, net of interest of P30,000
Proceeds from a customer promissory note, principal
amount P800,000 collected by the bank not taken
up in the accounting record with interest
Check no. 1086 issued to a supplier entered in the
accounting record as 210,000 but deducted in the
bank statement at an erroneous amount of
Stolen check lacking unauthorized signature deducted from
Mcdo's account by the bank in error
Customer check returned by the bank marked NSF,
indicating that the customer balance was not
adequate to cover the check; no entry has been made
in the accounting record to record the returned check
570,000
810,000
120,000
80,000
77,000
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