Wyatt Company provided the following data on December 31, 2015: Petty cash fund Cash on hand Current account Cash in sinking fund Money market placement Saving deposit - set aside for dividend payable on June 30,2016 The petty cash fund included unreplenished petty cash vouchers of P10,000. The cash on hand included a customer check of P200,000 received on December 15, 2015 but dated January 15, 2016. The sinking fund is restricted for the payment of bond payable that is due on July 31, 2017. What amount of cash and cash equivalents should be reported on December 31, 2015? 25,000 500,000 1,250,000 1,500,000 1,000,000 250,000 O 1,815,000 2,815,000 O 3,315,000 O 4,315,000

The balance of the general ledger cash account as of December 31, 2017 is P7,120.00.  On the other hand, the bank statement showed a December 31, 2017 balance of P6,580. You were tasked to prepare the bank reconciliation statement for the company’s bank account.   Your analysis of the bank statement and the general ledger account revealed the following:   Deposit in Transit P1,345 Credit memo for direct collection of a note receivable 755 Credit memo for interest income 65 Auto debit  of cell phone bill 290 Customer NSF check 455 Outstanding Check 575 Debit memo for bank charges 25       A check received from a customer was recorded in the accounting books for P3,280. The bank statement revealed that the customer check cleared at the correct amount of P3,820.   The bank deducted P360 from the account of KCLC for a check issued by Elvira Inc.   Required: Prepare the bank reconciliation statement as of December 31,2020 for KCLC ‘s bank…

Bank reconciliation problem: The bank statement for Juan Company shows a balance per bank of $15,907.45 on April 30, 2015. On this date, the balance cash per books is $11,589.45. Additional information: Deposits in transit: April 30 deposit (Received by the bank on May 1) $2,201.40 $3,000.00 $1,401.30 S1,502.70 Outstanding checks: No. 453 No. 457 No. 460 Errors: Juan wrote the check no. 443 for $1,226.00 and the bank correctly paid that amount. However, he recorded the check as $1,262.00. Bank memoranda: Debit – NSF check from Pedro $425.60 Debit – Charge for printing company checks $30.00 Credit – Collection of note receivable for $1,000 plus interest earned $50, less bank collection fee of $15.00. Required: Prepare a bank reconciliation statement using the adjusted method. Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor. Bank Credit Memo are additions made by the bank to the account of the depositor.

The following information pertains to jeng Company: Balance per bank statement, Dec. 31, 2013, P73,350Cash ledger balance, Dec. 31, 2013, P63,675Proceeds of a customer’s note collected by the bank including P50 interest, P6,525Bank service charges, P45Deposit in transit, P4,158NSF check of customer deposited and returned, P378Outstanding checks, P7,731 Requirement:a. Prepare the bank reconciliation statement.b. Journalize the adjusting entries

Bank reconciliation problem: The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2015. On this date the balance of cash per books is P11,589.45. Additional information are provided below: Deposits in transit: April 30 deposit (received by the bank on May 1) P2,201.40 Outstanding checks: No. 460-P1,502.70 No. 453-P3,000.00 No. 457-P1,401.30 Errors: Juan wrote check no. 443 for P1,226.00 and the bank correctly paid that amount. However, he recorded the check as P1,262.00. Bank memoranda: Debit- NSF check from Pedro P425.60. Debit- Charge for printing company checks P30.00 Credit – Collection of note receivable for P1,000 plus interest eamed of P50, less bank collection fee of P15.00. Required: Prepare a bank reconciliation statement using the adjusted method. Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor Bank Credit Memo are additions made by the bank to the account of the depositor

Kingbird, Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information. Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: $18,770 Bank debit memorandum: 71,370 Safety deposit box fee $ 105 68,598 Service charge Balance, August 31 125 130 21,432 Interest earned A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,070; receipts $74,370; disbursements $73,49o; and balance, August 31, $19,950. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,880 and outstanding checks of $4,580. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. Determine deposits in transit. Deposits in transit SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS Determine outstanding…

The cash account in a company’s ledger showed a balance December31, 2015 of $44,150which has determined to consist of:Petty Cash Fund $240Cash undeposited receipt (including a post dated check for$700) $12,200Cash in ABC bank, per bank statement with a check for $400still outstanding$22,450Bond sinking fund cash $8,500Vouchers paid out of collections, not yet recorded $430IOUs signed by employees, taken from collection $330--------$44,150At what amount should cash on hand and in bank reported on the company’s balancesheet?

1. Violet Company had the following cash balances at December 31, 2017: Cash in banks Petty cash funds (all funds were refmbursed on December 31, 2017) Cash restricted for additions to plant (expected to be disbursed In 2018) P375,000 5,000 500,000 Cash in banks includes P125, 000 of compensating balances against short-term borrowing arrangements at December 31, 2017. The compensating balances are legally restricted to withdrawal by Violet. In the current asset section of Vlolet's December 31, 2017, balance sheet, what total amount should be reported as Cash?

Below is the bank reconciliation for Prada Company for July 2018: Balance per bank, July 31, 2018 Add: Deposits in transit Total Less: Outstanding checks Erroneous bank credit Cash balance per books, July 31, 2018 P 140,000 50,000 P Questions: 14. How much is the unadjusted cash balance per books on August 31, 2018? a. P902,000 b. P860,000 c. P820,000 P P 750,000 120,000 870,000 190,000 680,000 The bank statement for August 2018 contains the following data: Total deposits, P550,000; Total charges (including a no sufficient fund check of P40,000 and service charge of P2,000), P480,000. All outstanding checks on July 31, 2018 including bank credit were cleared in the bank in August 2018. There were outstanding checks of P150,000 and deposits in transit of P190,000 on August 31, 2018. d. P738,000

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