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On Line Audit 2

The bank reconciliation summarizes the transactions between Apple Corp's records and the bank statement from November 30 to December 31. The balance per books was $423,825 but after adjusting for outstanding checks of $27,375 and a deposit in transit of $16,200, the adjusted balance per books was $407,625. Comparing this to the bank statement balance of $435,000 revealed a difference that needed reconciling.

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Nicolas Ernesto
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197 views

On Line Audit 2

The bank reconciliation summarizes the transactions between Apple Corp's records and the bank statement from November 30 to December 31. The balance per books was $423,825 but after adjusting for outstanding checks of $27,375 and a deposit in transit of $16,200, the adjusted balance per books was $407,625. Comparing this to the bank statement balance of $435,000 revealed a difference that needed reconciling.

Uploaded by

Nicolas Ernesto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Problem 3 – BANK RECONCILIATION – UNADJUSTED TO ADJUSTED

BALANCE

The following information pertains to APPLE CORP. :

Apple Corp.
BANK RECONCILIATION
November 30,2015

Balance per bank


statement 435.000
Less: Outstanding checks
No. 4321 6.000

4329 15.000
4340 1.700

4341 4.675 27.375

407.625

Add: Deposit in transit 16.200

Balance per books 423.825

CHECK REGISTER
December 2015
Vouchers

Date Payee No. Payable Discount Cash

Dec.
1 San Beda, Inc. 4342 10.000 500 9.500

3 Miriam Corp. 4343 4.200 - 4.200

7 UE Enterprises 4344 3.755 - 3.755

12 PBA Corp. 4345 12.000 120 11.880

15 Payroll 4346 96.000 - 96.000

16 BU, Inc. 4347 6.300 - 6.300

18 New Era Co. 4348 14.200 142 14.058

21 UST Inc. 4349 7.000 - 7.000


Petty Cash
22 Fund 4350 10.000 - 10.000

28 Payroll 4351 98.000 - 98.000


261.455 662 260.693

BANKABLE BANK Page 1 of 1


PERIOD: NOV.30, 2015 - DEC. 31, No.: 001-43-
2015 44

Check
Date Description No. Debit Credit Balance

Balance last statement 435.000


Dec.
1 Cash deposit 16.200 451.200

1 Check issued 4329 15.000 436.200

4 Check issued 4342 9.500 426.700

4 Check issued 4341 4.675 422.025

5 Check deposit 49.000 471.025

6 Check issued 4343 4.200 466.825

8 Check deposit 14.000 480.825

10 Check issued 4344 3.755 477.070

15 Encashment 4346 96.000 381.070

22 Encashment 4350 10.000 371.070

28 Encashment 4351 98.000 273.070

29 Debit memo - 273.070

service charge 1.000 272.070

29 Credit memo 272.070

interest 1.550 273.620

Deposit in transit at December 31 totaled $ 49,000.

REQUIRED: Prepare a bank reconciliation (to the correct balance) as of


December 31, 2015, for Apple Corp.

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