BSA Company prepared the November 30, 2020 bank reconciliation as follows:Balance per bank statementP1,500,000200.000P1,700,000450,000P1,250.000Add: Deposit in transitTotalLess: Outstanding checksBalance per book, November 30The bank statement for December 2020 showed the following:a. Deposits totaled P4,500,000, including P100,000 note collected for BSACompany.b. Disbursements totaled P3,500,000, including P70,000 NSF check and P5,000service charge.c. The outstanding checks totaled P300,000 and the deposit in transit amounted toP500,000 on December 31.d. All reconciling items on November 30 cleared through the bank in December.Complete the bank reconciliation:Balance per bank statement, Dec. 31Add:Deposit in transitTotalPLess:Adjusted bank balance, Dec. 31Balance per book, Dec. 31Note collected by bankPAdd:TotalLess: NSF checkBank service chargeAdjusted book balance, Dec. 31What is the unadjusted bank balance on December 31, 2020?How much is the total cash receipts per book in December? Show computation. IHow much is the total cash disbursements per book in December? Show computation. (

Bank reconciliation statement is a statement which shows the difference between bank statement and…

Answered: SA Company prepared the Nove Balance…

SA Company prepared the Nove Balance per bank statemer Add: Deposit in transit Total Less: Outstanding checks Bolono0 boo om

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

BSA Company prepared the November 30, 2020 bank reconciliation as follows:
Balance per bank statement
P1,500,000
200.000
P1,700,000
450,000
P1,250.000
Add: Deposit in transit
Total
Less: Outstanding checks
Balance per book, November 30
The bank statement for December 2020 showed the following:
a. Deposits totaled P4,500,000, including P100,000 note collected for BSA
Company.
b. Disbursements totaled P3,500,000, including P70,000 NSF check and P5,000
service charge.
c. The outstanding checks totaled P300,000 and the deposit in transit amounted to
P500,000 on December 31.
d. All reconciling items on November 30 cleared through the bank in December.
Complete the bank reconciliation:
Balance per bank statement, Dec. 31
Add:
Deposit in transit
Total
P
Less:
Adjusted bank balance, Dec. 31
Balance per book, Dec. 31
Note collected by bank
P
Add:
Total
Less: NSF check
Bank service charge
Adjusted book balance, Dec. 31
What is the unadjusted bank balance on December 31, 2020?
How much is the total cash receipts per book in December? Show computation. I
How much is the total cash disbursements per book in December? Show computation. (

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