The following bank reconciliation is presented for 000 Company for the month of November of the current year: Balance per bank statement, November 31 Add: Deposit in transit 3,600,000 800,000 4,400,000 1,200,000 200,000 Less: Outstanding checks Bank credit recorded in error 1,400,000 3,000,000 Balance per book, November 30 Data per bank statement for the month of December follow: December deposits (including note collected of Pl,000,000 for O00) December disbursements (including NSF, P350,000 and Service charge, P50,000) 5,500,000 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, P500,000 were December 31. In addition, outstanding and deposits of P700,000 checks amounting in including the bank credit. to were transit of 16. What is the cash balance per ledger on December 31? 17. What is the amount of cash receipts per book in December? 18. What is the amount of cash disbursements per book in December? 19. What is the adjusted bank balance?

The following bank reconciliation is presented for 000 Company for the month of November of the current year: Balance per bank statement, November 31 Add: Deposit in transit 3,600,000 800,000 4,400,000 1,200,000 200,000 Less: Outstanding checks Bank credit recorded in error 1,400,000 3,000,000 Balance per book, November 30 Data per bank statement for the month of December follow: December deposits (including note collected of Pl,000,000 for O00) December disbursements (including NSF, P350,000 and Service charge, P50,000) 5,500,000 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, P500,000 were December 31. In addition, outstanding and deposits of P700,000 checks amounting in including the bank credit. to were transit of 16. What is the cash balance per ledger on December 31? 17. What is the amount of cash receipts per book in December? 18. What is the amount of cash disbursements per book in December? 19. What is the adjusted bank balance?

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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Valdez Company prepared the following bank reconciliations on March 31: Balance per bank statement. March 31 Deposit in transit Total 4,650,000 1,000,000 5,650,000 Outstanding checks Balance per book, March 31 Data per bank statement for the month of April follow: Deposits (1,250,000) 4,400,000 6,000,000 Disbursements 5,000,000 All reconciliation items in March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. What is the adjusted cash in bank on April 30?
Mazaya Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, 6/30 R.O. 8,000; Note receivable collected by bank 3,200; Outstanding checks 4,800; Deposits in transit 2,400; Bank service charge 4O; NSF check 640. Determine the cash balance per books (before adjustments) for Mazaya Company. Select one: a. R.O. 6,280. b. R.O. 8,000. cR.O. 10,400. d. R.O. 3,080.
An examination of the records of St. Isidore Company's for the month of December included the following information: Bank statement December 31 balance 1,500,000 Bank service charge for December Interest paid by bank to St. Isidore Company for December Check issued to a supplier withdrawn from the bank at P35,000 but recorded as P53,000 for a difference of 10,000 15,000 18,000 Deposits made but not yet recorded by the bank Deposit of San Isidro credited by the bank to St. Isidore's account Checks written and mailed but not yet recorded by the bank 150,000 40,000 350,000 Petty cash fund 10,000 What is the cash in bank balance per ledger on December 31? A. 1,237,000 B. 1,260,000 C. 1,273,000 D. 1,500,000
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Hearty Company prepared the following bank reconciliation on June 30: Balance per bank 9,800,000 Deposit in transit 400,000 Outstanding checks (1,400,000) Balance per book 8,800,000 There were total deposits of 6,500,000 and charges for disbursements of 9,000,000 for July per bank statement. All reconciliation items on June 30 cleared the bank on July 31. Deposit in transit totaled 600,000 and checks outstanding amounted to 1,000,000 on July 31. What is the cash balance per book on July 31?
Shown below is the bank reconciliation for Mat Company for November 20x7: Balance per bank, Nov 30, 20x7 P 300,000 Add: Deposits in transit 48,000 Total 348,000 Less: Outstanding checks P 56,000 Bank credit recorded in error 20,000 76,000 Cash balance per books, Nov 30, 20x7 P 272,000 The bank statement for December 20x7 contains the following data: Total deposits amounted to P220,000; Total charges (including an NSF check of P16,000 and a service charge of P800) amounted to P192,000 All outstanding checks on November 30, 20x7, including the bank credit, were cleared in the bank 1n December 20x7. There were outstanding checks of P60,000 and deposits in transit of P72,000 on December 31, 20x7. The adjusted cash in bank balance as of December 31, 20x7 is
Durias Company prepared the following bank reconciliation on March 31: Balance per bank Statement, March 31 4,650,000 Deposit in Transit 1,000,000 Total 5,650,000 Outstanding Checks (1,250,000) Balance per Book, March 31 4,400,000 Data per Bank Statement for the month of April follow: Deposits 6,000,000 Disbursement 5,000,000 All reconciliation items on March 31 cleared through the bank in April. Outstanding checks on April 30 totaled P750,000 and deposits in transit amounted to P1,500,000. 1. What is the cash balance per ledger on April 30?
3. Richardson Inc. had the following bank reconciliation at March 31: $46,500 Balance per bank, March 31 Add: Deposit in transit Less: Outstanding checks 10,500 (12,600) Balance per books, March 31 $44.400 In addition, data per bank for the month of April follows: Deposits Disbursements $58,400 49,700 All reconciling items at March 31 cleared the bank in April. Outstanding checks at the end of April totaled $7,000. There were no deposits in transit at the end of April. What is the cash balance per books on April 30? $48,200 $52,900 $55,200 $58,500 None of the above. A. B. C. D. E.
What is the amount of cash receipts per book in December? Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add: Deposit in Transit Less: Outstanding checks Bank credit recorded in error Balance per book, November 30 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note collected of 1,000,000 for Chris December disbursements, including NSF customer check 350,000 & service charge 50,000 3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 4,400,000 1 point All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to 500,000 were outstanding and deposits of 700,000 were in transit on December 31.
Future, Inc. had the following bank reconciliation on March 31, 2022: · Balance per bank statement, 3/31/2022- P46,500 · Add deposit in transit- P10,300 · Less outstanding checks- P12,600 · Balance per books, 3/31/2022- P44,200 Data per bank for the month of April 2022 follow: Deposits 58,400 Disbursements 49,700. All reconciling items on March 31, 2022, cleared the bank in April. Outstanding checks on April 30, 2022, totaled 7,000. There were no deposits in transit on April 30, 2022. What is the cash balance per books on April 30, 2022? A. 48,200 B. 52,900 C. 55,200 D. 58,500
Thompson Company gathered the following reconciling information in preparing its October bank reconciliation. Cash balance per bank, October 31 Note receivable collected by bank Outstanding checks Deposits in transit Bank service charge NSF check Determine the cash balance per company records (before adjustment) on October 31. a. $10,663 b. $28,548 $14,699 3,875 9,784 4,065 226 1,966 c. $7,297 d. $8,980
Bank Reconciliation (Partial) The cash account for Feldman Company contains the following information for April: Cash balance, 3/31 $14,685 Cash received during April 55,680 70,365 Cash disbursements during April: Cheque 7164 $33,500 Cheque 7165 11,250 Cheque 7166 18,750 Cheque 7167 900 64,400 Cash balance, 4/30 $5,965 The bank statement for April contains the following information: Bank balance, 3/31 $25,285 Add: Deposits during April 55,680 80,965 Less: Cheques paid during April: Cheque 7162 $8,900 Cheque 7163 1,700 Cheque 7164 33,500 Cheque 7165 11,250 55,350 Bank balance, 4/30 $25,615 Required: Assuming there were no deposits in transit at March 31 and that all outstanding cheques at March 31 cleared during April, do the following: 1. Identify the outstanding cheques at April 30. 2. Prepare the reconciliation of the bank and cash account balances at April…