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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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

100%

The following bank reconciliation is presented for O00 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
Less: Outstanding checks
1,200,000
200,000
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 P1,000,000 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
December 31.
including the bank credit.
outstanding and deposits
addition,
of P700,000
checks
in
amounting
transit
In
to
were
were
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?

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