10:43|0 •0.164GKB/S70Document View1. Credit memos are items that are already added by the bank but have not been added by thebook as of the cut off date.2. Debit memos are amounts that have been deducted by the bank but have not been deductedper book.3. Examples of debit memo include accounts receivable collected by the bank in favor of thecompany and loan proceed directly credited by the bank to the account of the customer.4. Monthly bank reconciliation is one of the internal control features in every company, which iscreated to show that there is no discrepancy between the cash balance per book records and thecash balance per bank records.5. Reciprocal accounts should have the same balance after ail adjustments have been made.Determine whether the following reconciling items should be added to the book or bank accountbalance or deducted from the book or bank account by putting (/) check mark or (x) cross mark on thecorresponding column.ADDDEDUCTDEDUCTADD TOBANKNoRECONCILING ITEMSFROMтоBOOKFROMBOOKBANKJodi Dela Cruz Company had a receipt ofPhp100,000 and correctly prepared its bankdeposit slip for Php 100,000. However, the1company recorded the receipt in its Cashaccount as Php 101,000. How is thedifference of Php1,000 handled on the bankreconciliation?Blaze Mudlong wrote a check worth Php46,000 and it cleared the bank for Php46,000. However, the company recorded thecheck in its Cash account as Php 64.000.How is the difference ofhandled on the bank reconciliation?Bank erroneously posted another company's3Php18, 000credit memo to MN Mitz Company's bankaccountBank inadvertently charged Mikka JosonCompany's bankcompany's bank fees4accountforanotherBank service charge6Deposit in transit7Fee charged by bank for returned check8Interest credited to bank account9Outstanding checksThe bank collected a Note Receivable for theAcer Garcia Corporation and credited thecompany's bank account for Php 1,000,000.10Problem #1:The company reported an unadjusted book balance of Php142000. The bank statement shows anunadjusted balance of Php 232,000. The bank credited Php 5,000 to the account of the company for abank loan that It has requested. It also charged a Php1,000 bank penalty. A Php 23,000 outstandingcheck was not yet recorded by the bank.1. How much is the adjusted cash balance for the month?2. How much is the deposit in transit for the month??HelpfulUnhelpfulAsk Expert Tutors

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balance or deducted from the book or bank account by putting (/) check mark or (x) cross mark on the corresponding column.