The following information pertains to the Virgo Company: Balance per bank statement Ledger account balance for cash on November 30. Note collected by bank Bank charges Deposit in transit NSF check deposited and retumed Outstanding checks Bank error - deducted P225 from Virgo Company account for Check acrually written for P2250 P73,350 63,675 4,500 45 4,158 378 7,731 Required: 1. Prepare the bank reconciliation for Virgo Company at November 30, of the current year. 2. Record in general journal from the entries necessary to bring the book balance of Cash into agreement with the adjusted book balance on the reconciliation.
The following information pertains to the Virgo Company: Balance per bank statement Ledger account balance for cash on November 30. Note collected by bank Bank charges Deposit in transit NSF check deposited and retumed Outstanding checks Bank error - deducted P225 from Virgo Company account for Check acrually written for P2250 P73,350 63,675 4,500 45 4,158 378 7,731 Required: 1. Prepare the bank reconciliation for Virgo Company at November 30, of the current year. 2. Record in general journal from the entries necessary to bring the book balance of Cash into agreement with the adjusted book balance on the reconciliation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information pertains to the Virgo Company:
Balance per bank statement
Ledger account balance for cash on November 30.
Note collected by bank
Bank charges
Deposit in transit
NSF check deposited and retuned
Outstanding checks
Bank error - deducted P225 from Virgo Company account for
Check acrually written for P2250
P73,350
63,675
4,500
45
4,158
378
7,731
Required:
1. Prepare the bank reconciliation for Virgo Company at November 30, of the current year.
2. Record in general journal from the entries necessary to bring the book balance of Cash into agreement
with the adjusted book balance on the reconciliation.
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