Bank Reconciliation

Balance per bank 590,000.00

Add: Deposit in transit 157,856.00 2) Cash on hand, March 31 (squeeze)
Less: Outstanding checks
No.7163 (8,623.00)
No.7284 (7,320.00)
No.7285 (10,612.00)
No.8722 (6,322.00)
No.8724 (12,280.00)
No.8733 (6,200.00) (51,357.00)
Adjusted bank balance 696,499.00

Balance per book 646,499.00

Add:Credit memo
Less:Debit memo
Adjusted book balance 646,499.00

157,856.00
(127,301.00)
30,555.00 1) Cash taken by cashier-accountant
d, March 31 (squeeze)
1) Sales x 60% 204,000.00
Add: Merchandise Inventory 93,920.00
Purchases 297,920.00
Less: Accounts Payable (46,284.00)
Payment for purchases 251,636.00

2) Sales 340,000.00
Less: Accounts Receivable (85,380.00)
Collection 254,620.00

3) Receipts
Ordinary Share Capital 300,000.00
Add: Share Premium 20,000.00 320,000.00
Mortgage Payable 80,000.00
Nope Payable - bank 32,000.00
Collection 254,620.00
686,620.00

686,620.00
(535,392.00)
151,228.00 Cashier's accountability

4) Adjusted Book Balance

Bank 26,328.00
Add: Deposit in transit 5,140.00
Less: Outstanding Check (1,852.00)
29,616.00

5) Cash shortage
Cashier's Accountability 151,228.00
Cash adjusted (29,616.00)
121,612.00
 Disbursements
Real Property 200,000.00
Furniture & Fixtures 23,000.00
Expenses 60,756.00
Payment for purchases 251,636.00
535,392.00
1) a.Cash 4,000.00 2)
Allowance for bad debts 4,000.00 Balance
Deposit in transit
Cash 3,000.00 Outstanding check
Inventory 3,000.00 Bank error
Collections
Cash 3,500.00
Accounts receivable 3,500.00 Shortage
Adjusted
b. Cash 2,000.00
Accounts Receivable 2,000.00

c. Cash 4,500.00
Accounts Receivable 4,500.00
 Book Bank 3) DIT, Beginning 3,500.00
247,200.00 264,095.00 Collections: 4,500.00
3,500.00 2,000.00
(25,325.00) Receipts 53,500.00
750.00 63,500.00
10,500.00 Less:Credited by bank (47,965.00)
257,700.00 243,020.00 DIT- January 15, 2021 15,535.00
(14,680.00) Cash items (3,750.00)
243,020.00 243,020.00 11,785.00
Cash shortage 14,680.00
26,465.00 Total Cash shortage - January 1
tal Cash shortage - January 15, 2021
 Cash and Cash Equivalents
Current account 81,000.00
Savings account 132,600.00
DIT 19,200.00
Currency and coins 3,480.00
PCF 1,200.00
Treasury Bill 90,000.00
Time Deposit 100,000.00
427,480.00
1) Check 792 2,500.00 2) Check 806 19,000.00 3)
Check 799 7,050.00 Check 807 26,000.00
O/C Nov 30 9,550.00 Check 810 7,000.00
Check 812 16,000.00
Check 817 11,000.00
Check 819 7,000.00
Check 822 12,000.00
Check 823 13,000.00
Check 824 29,000.00
Check 825 2,000.00
Check 826 11,000.00
O/C Dec 31 153,000.00
DIT Nov 30 8,500.00 4) DIT Nov 30 8,500.00 5)
Add: Book Dr 707,300.00
715,800.00
Less: Bank Cr 831,300.00
Error corrected, Dec (81,000.00)
Error corrected, Nov (12,000.00)
Loan proceeds (48,500.00)
Note collected (12,000.00) 677,800.00
DIT, Dec 31 38,000.00
 VELASCO COMPANY
Proof of Cash
For the month ended December 31, 2020
Nov. 30 Receipts Disbursements 44,561.00
Balance per bank 114,000.00 831,300.00 353,030.00 592,270.00
DIT
44,530.00 8,500.00 (8,500.00)
44,561.00 38,000.00 38,000.00
O/C
44,530.00 (9,550.00) (9,550.00)
44,561.00 153,000.00 (153,000.00)
Bank Error
44,530.00 12,000.00 (12,000.00)
44,561.00 (81,000.00) (81,000.00)
Adjusted 124,950.00 767,800.00 415,480.00 477,270.00

Balance per book 115,000.00 765,800.00 409,410.00 471,390.00

CM
44,530.00 10,000.00 (10,000.00)
44,561.00 12,000.00 12,000.00
DM
44,530.00 (50.00) (50.00)
44,561.00 120.00 (120.00)
Book Error
44,530.00
44,561.00 6,000.00 (6,000.00)
Adjusted 124,950.00 767,800.00 415,480.00 477,270.00
5) 124950 Adjusted book balance
6) 767800 Adjusted bank receipts

7) 415480 Adjusted book disbursements

8) 477270 Adjusted bank balance