Problem 3-3 (IAA) Fabulous Company provided the following data concerning cash on July 31: Checks drawn Bank statement Balance, July 31 Charges: Checks paid Service charge Credita: Deposits Note collected 2,700,000 No. 101 No. 102 No. 103 No. 104 No. 105 No. 106 No. 107 No. 108 600,000 700,000 300,000 400,000 450,000 600,000 650,000 500,000 4,000,000 20,000 3,500,000 1,500,000 Balance of cash per book on July 1, P1,270,000. Cash receipts per cash book for the month of July P3,400,000. Checks paid by bank include all che ks issued during the month of July except No. 107 and No. 108. On July 31 cash received but not deposited in bank, P400,000. Required: a. Prepare bank reconciliation on July 1 and July 31. b. Prepare adjusting entries on July 31.

Problem 3-3 (IAA) Fabulous Company provided the following data concerning cash on July 31: Checks drawn Bank statement Balance, July 31 Charges: Checks paid Service charge Credita: Deposits Note collected 2,700,000 No. 101 No. 102 No. 103 No. 104 No. 105 No. 106 No. 107 No. 108 600,000 700,000 300,000 400,000 450,000 600,000 650,000 500,000 4,000,000 20,000 3,500,000 1,500,000 Balance of cash per book on July 1, P1,270,000. Cash receipts per cash book for the month of July P3,400,000. Checks paid by bank include all che ks issued during the month of July except No. 107 and No. 108. On July 31 cash received but not deposited in bank, P400,000. Required: a. Prepare bank reconciliation on July 1 and July 31. b. Prepare adjusting entries on July 31.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 3.7C

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What is the answer of this two images?

ELVIRAS INTONG
Nameis
LANGCOT
0, DELIA LIGARAY
CHERRYJOE.CAO
rear Leve
Coumse
SAOHELORD
First Yeur
Problem 3-3 (IAA)
Fabulous Company provided the following data concerning
cash on July 31:
Bank statement
Checks drawn
2,700,000
Balance, July 31
Charges:
Checks paid
Service charge
No. 101
No. 102
No. 103
No. 104
No. 105
No. 106
No. 107
No. 108
600,000
700,000
300,000
400,000
450,000
600,000
650,000
500,000
4,000,000
20,000
Credits:
Deposits
Note collected
3,500,000
1,500,000
Balance of cash per book on July 1, P1,270,000. Cash receipts
per cash book for the month of July P3,400,000.
Checks paid by bank include all che ks issued during the
month of July except No. 107 and No. 108.
On July 31 cash received but not deposited in bank, P400,000.
Required:
a. Prepare bank reconciliation on July 1 and July 31.
b. Prepare adjusting entries on July 31.

Problem 3-7 (IAA)
Bedlsm Company provided the following dats for the month
of December:
November 30 December 21
Cash in bank account balance
Bank statement balance
Bank debita
Bank credite
Book debita
Book credita
Outatanding checks
Deposit in trariait
Check erroneoualy charged by
bank againat entity's accoint
and corrected in subeeguent month
Bank aervice charge
Note recorded as csh reoript by
2002.000
1.90,000
2.160.000
2500,000
1080000
1.44000
02.000
8.000
180 000
80000
0.000
50.000
4.000
2000
entity when placed with hank
for collection and note is actually
collected by bank in subuequent
month and credited by bank to
entity's account in aame month
200.000
300.000
Required:
a. Prepare a four-column reconeiliation ahowingr adjusted
balances.
b Prepare one adjusting entry only on December 31.

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