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problem # 5

The document provides a financial overview of Girly's account, detailing balances, credits, debits, and errors for October and November. It includes calculations for deposits in transit and outstanding checks, as well as adjustments to the cash balance. The adjusted balance of cash on November 30 is reported as 3,000.

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KuYã Noks Gaming
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9 views

problem # 5

The document provides a financial overview of Girly's account, detailing balances, credits, debits, and errors for October and November. It includes calculations for deposits in transit and outstanding checks, as well as adjustments to the cash balance. The adjusted balance of cash on November 30 is reported as 3,000.

Uploaded by

KuYã Noks Gaming
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Balance per books, October 31 4,440

Total Credits per books, November 8,320


Balance per books, November 30 2,400
Balance per bank statement, October 31 5,520
Balance per bank statement, November 30 4,560
Total Debits per bank statement, November 2,800
Loan proceeds directly credited to Girly’s account in
October 1,200
Collection of receivable directly credited to Girly’s
account in November – not yet recorded in the books 600
NSF checks returned in October 900
NSF checks returned in November - not yet recorded in
the books 300
Check received from a customer amounting to ₱1,800
was recorded in the books in October as 180
Overstatement in book debit in October 800
Overstatement in book credit in November 300
Understatement in bank debit in October 290
Overstatement in bank credit in October 370
Deposit amounting to ₱1,050 was recorded by
the bank in November as 150
Deposits in transit – October 31 4,500
Outstanding checks – October 31 3,800

How much are the deposits in transit on November 30?


How much are the outstanding checks on November 30?
How much is the adjusted balance of cash on November 30?

BOOK

OCTOBER RECEIPT (Dr) DISBURSEMENT (Cr) NOVEMBER


UNADJUSTED 4,400 6,280 8,320 2,400
CREDIT MEMO
OCTOBER 1,200 (1,200)
NOVEMBER 600 600
DEBIT MEMO
OCTOBER (900) (900)
NOVEMBER 300 (300)
ERROR
OCTOBER 1,620 (1620)
OCTOBER (800) (800)
NOVEMBER (300) 300
TOTAL 5520 4060 6620 3,000
BANK

OCTOBER RECEIPT (Cr) DISBURSEMENT (Dr) NOVEMBER


Unadjusted 5,520 1,840 2,240 4,560
DEPOSIT IN
TRANSIT
OCTOBER 4,500 (4,500)
NOVEMBER 5,820 5,820
OUTSTANDING
CHECKS
OCTOBER (3,800) (3,800)
NOVEMBER 8,280 (8,280)
ERROR
OCTOBER (290) (290)
OCTOBER (370) (370)
NOVEMBER 900 900
TOTAL 5,560 4,060 6,620 3,000

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