Problem 1

Adversary Company keeps all its cash in a checking account.

An examina on of the en ty's accoun ng records and bank statement for the month ended June 30, 2012
revealed the following informa on:

 The cash balance per book on June 30 is P8,500,000.

 A deposit of P 1,000,000 that was placed in the bank's night depository on June 30 does not appear
on the bank statement.
 The bank statement shows on June 30, the bank collected note for Adversary Company and credited
the proceeds of P950,000 to the en ty's account.
 Checks outstanding on June 30 amount to P300,000.
 Adversary Company discovered that a check wri en in June for P200,000 in payment of an account
payable had been recorded in the en ty's records as P20,000.
 Included with the June bank statement was NSF check for P250,000 that Adversary Company had
received from a customer on June 26.
 The bank statement shows a P20,000 service charge June.

What is the cash in bank to be reported in the statement of financial posi on on June 30, 2012?

Problem 2

Laconic Company's bank statement for the month of April included the following informa on:

Bank service charge for April 15,000

Check deposited by Laconic o during April was not collec ble
and has been marked "NSF" by the bank and returned 40,000
Deposits made but not yet recorded by bank 130,000
Checks wri en and mailed but not yet recorded by bank 100,000

Laconic Company found customer check for P35,000 payable to Laconic Company that had not yet been
deposited and had not been recorded. The general ledger showed a bank account balance of P920,000.
What is the adjusted cash in bank on April 30?

Problem 3

The following informa on pertains to Beacon Company on December 31, 2012:

Cash balance per bank statement 4,000,000

Checks outstanding (including cer fied check of P100,000) 500,000
Customer note collected by bank for Beacon 150,000
NSF checks of customers returned by bank 200,000
Bank service charge shown in December bank statement 20,000
Error made by Beacon in recording a check that
cleared the bank in December (check was drawn
in December for P100,000 but recorded at P10,000) 90,000
Deposit in transit 1,300,000

What is the cash balance per ledger on December 31, 2012?

Problem 4

On March 31, 2012, Decent Company received its bank statement. A bank reconcilia on is prepared from
the following available informa on:

February 28 book balance 1,460,000

Note collected by bank 100,000
Interest earned on note 10,000
NSF check of customer 130,000
Bank service charge on NSF check 2,000
Other bank service charges 3,000
Outstanding checks 202,000
Deposit of February 28 placed in night depository 85,000
Check issued by Deceit Company charged to Decent account 20,000

What is the cash balance per bank statement?

Problem 5

The bookkeeper of Esoteric Company recently prepared the following bank reconcilia on on December
31, 2012:

Balance per bank statement 2,800,000

Deposit in transit 195,000
Checkbook prin ng charge 5,000
Error made by Esoteric in recording Check No. 45
issued in December 35,000
NSF check 110,000
Outstanding check ( 100,000)
Note collected by bank including P15,000 interest ( 215,000)
Balance per book 2,830,000

Esoteric Company has P200,000 cash on hand on December 31, 2012. What total amount of cash should
be reported on December 31, 2012?

Problem 6

Informa on pertaining to Garrulous Company appears follows:

Balance per bank statement on July 31 6,200,000

Balance per ledger, July 31 3,750,000
Deposit of July 30 not recorded by bank 1,400,000
Debit memo - service charges 50,000
Credit memo - collec on of note by bank for Garrulous 1,500,000
Outstanding checks ?

Check for purchase of supplies was drawn for P300,000 but was recorded as P200,000. The management
wrote a check tor traveling expenses of P500,000 while out of town. The check was not recorded. What is
the amount of outstanding checks on July 31?
Problem 7

The cash account in the ledger of Kudos Company showed a balance of P1,652,000 on December 31. The
bank statement, however, showed a balance of P2,090,000 at the same date. The only reconciling items
consisted of a bank service charge of P2,000, a large number of outstanding checks totaling P590,000 and
a deposit in transit. What is the deposit in transit on December 31?

Problem 8

The following bank reconcilia on is presented for Cool Company for the month of November of the current
year:

Balance per bank statement, November 30 3,600,000

Add: Deposit in transit 800,000
4,400,000
Less: Outstanding checks 1,200,000
Bank credit recorded in error 200,000_____1,400,000
Balance per book, November 30 3,000,000

Data per bank statement for the month of December follow:

December deposits (including note collected of P1,000,000 for Cool Company) 5,500,000

December disbursements (including NSF, P350,000 and service charge, P50,000) 4,400,000

All items that were outstanding on November 30 cleared through the bank in December, including the
bank credit. In addi on, P500,000 in checks were outstanding and deposits of P700,000 were in transit on
December 31.

1. What is the balance of cash per ledger on December 31?

2. What is the amount of cash receipts per book in December?
3. What is the amount of cash disbursements per book in December?

Problem 9

Lovable Company had the following bank reconcilia on on June 30, 2012:

Balance per bank statement, June 30 3,000,000

Add: Deposit in transit 400,000
Total 3,400,000
Less: Outstanding checks 900,000
Balance per book, June 30 2,500,000

The bank statement for the month of July showed the following:
Deposits (including P200,000 note collected for Lovable Company) 9,000,000
Disbursements (including P140,000 NSF check and P10,000 service charge) 7,000,000

All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000
and the deposit in transit amounted to P1,000,0000 on July 31.

1. What is the balance of cash per ledger on July 31?

2. What is the amount of cash receipts per book in July?
3. What is the amount of cash disbursements per book in July?
Problem 10

The accountant of Loquacious Company prepared the following bank reconcilia on dated June 30 in the
current year.

Balance per bank 9,800,000

Deposit in Transit 400,000
Outstanding checks (1,400,000)
Balance per book 8,800,000

There were total deposits of P6,500,000 and charges for disbursements of P9,000,0000 for July per bank
statement. All reconcilia on items on June 30 cleared the bank on July 31. Deposit in transit totaled
P600,000 and outstanding checks amounted to P1,000,000 on July 31.

1. What is the balance of cash per ledger on July 31?

2. What is the amount of cash receipts per book in July?
3. What is the amount of cash disbursements per book in July?

Problem 11

Opaque Company had the following bank reconcilia on on March 31 of the current year:

Balance per bank statement, March 31 4,650,000

Add: Deposit in transit 1,000,000
5,650,000
Less: Outstanding checks 1,250,000
Balance per book, March 31 4,400,000

Data per bank statement for the month of April follow:

Deposits 6,000,000
Disbursements 5,000,000

All reconcilia on items on March 31 cleared through the bank in April. Outstanding checks on April 30
totaled P750,000 and deposits in transit amounted to P1,500,000.

1. What is the balance of cash per ledger on July 31?

2. What is the amount of cash receipts per book in July?
3. What is the amount of cash disbursements per book in July?