SENSIBLE COMPANY provided the following ledger accountof the Cash in Bank maintained with Second BankSECOND BANK100,000.00 DEC30,000.00771 20,000.00772DEC1 BALANCE1 CK#6 DEPOSIT5,000.00773 35,000.00774 15,000.00775 30,000.00776 25,000.00777 40,000.00412 DEPOSIT40,000.00624 DEPOSIT50,000.001031 DEPOSIT60,000.00141824The following bank statement was received from the Second Bank by Sensible CompanySensible CompanyDateCheck No. WithdrawalDepositsBalance130,000.00120,000.00100,000.0095,000.0090,000.00115,000.00176810,000.0077120,000.0047725,000.00677335,000.00 30,000.001277415,000.0040,000.001277652,000.0063,000.008,000.00 50,000.0010,000.00 45,000.00 CM5,000.00241042105,000.0028 NSF CHECK140,000.0028 SERVICE CHARGE135,000.00Other Information:1. Sensible Company reconciled its bank balance on November 30 with 2 checks, No, 768for Php 10,000.00 and No. 770 for Php 20,000.00 outstanding.2. Check No. 1042 was drawn by Sensitive Company.The bank charged it in error to the account of Sensible Company.3. Check No. 776 was correctly drawn for Php 52,000 in payment of account.The amount of Php 25,000.00 was entered in the books of original entry.4. The bank credit on December 28 represents the proceeds of a Php 50,000.00 note, less acollection fee of Php 5,000.00 collected by the bank and credited to the account.5. The NSF Check was received from a customer in payment of account.Required:a. Prepare a Bank Reconciliation Statement on December 31. (ADJUSTED BALANCE METHOD)b. Prepare adjusting entries.

The bank reconciliation statement is prepared to adjust the balances of cash book and pass book to…

SENSIBLE COMPANY provided the following ledger account of the Cash in Bank maintained with Second Bank SECOND BANK 1 BALANCE 6 DEPOSIT 771 20,000.C 772 DEC 100,000.00 DEC 1 CK# 30,000.00 4 5,000.C 12 DEPOSIT 40,000.00 35,000.0 774 15,000.C 775 30,000.0 776 25,000.0 777 40,000.C 773 24 DEPOSIT 50,000.00 10 31 DEPOSIT 60,000.00 14 18 24 The following bank statement was received from the Second Bank by Sensible Company Sensible Company Check No. Withdrawal Deposits Date Balance 1 130,000.00 768 120,000.00 10,000.00 20,000.00 1 771 100,000.00 4 772 5,000.00 95,000.00 6 773 35,000.00 30,000.00 90,000.00 12 774 15,000.00 40,000.00 115,000.00 12 776 52,000.00 63,000.00 24 28 NSF CHECK 8,000.00 50,000.00 10,000.00 45,000.00 CM 5,000.00 105,000.00 140,000.00 135,000.00 1042 28 SERVICE CHARGE Other Information: 1. Sensible Company reconciled its bank balance on November 30 with 2 checks, No, 768 for Php 10,000.00 and No. 770 for Php 20,000.00 outstanding. 2. Check No. 1042 was drawn by Sensitive Company. The bank charged it in error to the account of Sensible Company.

SENSIBLE COMPANY provided the following ledger account of the Cash in Bank maintained with Second Bank SECOND BANK 1 BALANCE 6 DEPOSIT 771 20,000.C 772 DEC 100,000.00 DEC 1 CK# 30,000.00 4 5,000.C 12 DEPOSIT 40,000.00 35,000.0 774 15,000.C 775 30,000.0 776 25,000.0 777 40,000.C 773 24 DEPOSIT 50,000.00 10 31 DEPOSIT 60,000.00 14 18 24 The following bank statement was received from the Second Bank by Sensible Company Sensible Company Check No. Withdrawal Deposits Date Balance 1 130,000.00 768 120,000.00 10,000.00 20,000.00 1 771 100,000.00 4 772 5,000.00 95,000.00 6 773 35,000.00 30,000.00 90,000.00 12 774 15,000.00 40,000.00 115,000.00 12 776 52,000.00 63,000.00 24 28 NSF CHECK 8,000.00 50,000.00 10,000.00 45,000.00 CM 5,000.00 105,000.00 140,000.00 135,000.00 1042 28 SERVICE CHARGE Other Information: 1. Sensible Company reconciled its bank balance on November 30 with 2 checks, No, 768 for Php 10,000.00 and No. 770 for Php 20,000.00 outstanding. 2. Check No. 1042 was drawn by Sensitive Company. The bank charged it in error to the account of Sensible Company.

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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Please show me a solution of correct amount of cash in bank to be presented in the balance sheet.
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