Balazo Company provided the following data for the month of January:Balance per book, January 31Balance per bank statement, January 31Collections on January 31 but not depositedNSF check received from a customer returned by the3,130,0003,500,000550,000Bank on February 5 with the January bank statementChecks outstanding on January 31Bank debit memo for safety deposit box rental not recorded50,000650,000By depositor5,000A creditor check for P30,000 was incorectly recorded in theDepositor's book as300,000A customer check for P20O0,000 was recorded by theDepositor as20,000The depositor neglected to make an entry in its books for aCheck drawn in payment of an account payable125,0005. What is the adjusted cash in bank on January 31?Barotil Company provided the following information for the month of December:Balance per bank statementBalance per cash bookOutstanding ChecksDeposit in TransitService Charge4,000,0002,700,000600,000475,00010,000Proceeds of bank loan, December 1, discounted for6 months at 12% not recorded on company booksCustomer's check charged back by bank for absence of940,00050,000Counter signature10,000Deposit of P100,000 incorrectly recorded by bank asCheck of Buendia Company charged by bank against Barotil150,000Company AccountCustomer's Note collected by bank in favor of BarotilCompanyFace400,00040,000440,000InterestTotal435,0005,000Erroneous debit memo of December 28, to charge company'sAccount with settlement of bank loanCollection Fee200,000300,000Deposit of Buendia Company credited to Barotil Company6. What is the adjusted cash in bank on December 31? Aballe Company provided the following data for the month of December:Balance per BookBank Service ChargeOutstanding ChecksDeposit in TransitCustomer Note Collected by BankInterest on Customer NoteCustomer check returned NSF2,000,0006,000470,000600,000750,00030,000124,000Depositor's payment of note payable charged to account500,0001. What is the adjusted cash in bank?2. What is the unadjusted cash in bank per statement?Abne Company provided the following data for the purpose of reconciling the cash balanceper book with the balance per bank statement on December 31,2020:Balance per bookBalance per bank statementOutstanding checks, including certified check of P300,000Deposit in TransitDecember NSF checks (of which P150,000 had been redeposited2,550,0006,000,0001,500,000600,000and cleared on December 27)450,000Erroneous credit to Abne's account, representing proceeds ofLoan granted to another companyProceeds of note collected by bank for Abne, net of service900,0002,250,000Charge of P60,0003. What amount should be reported as cash in bank on December 31, 2020?Allare Company kept all cash in a checking account. An examination of the accountingrecords and bank statement for the month of June revealed the following information:The cash balance per book on June 30 is P17,000,000.A deposit of P2,000,000 that was placed in the bank's night depository on June 30 doesnot appear on the bank statement.The bank statement shows on June 30, the bank collected note for Allare Company andcredited the proceeds of P1,900,000 to the entity's account.Checks outstanding on June 30 amount to P600,000Allare discovered that a check written in June for P800,000 in payment of an accountpayable, had been recorded in the entity's records as P80,000.Included with the June Bank Statement was NSF check for P500,000 that Allare hadreceived from a customer on June 26.The bank statement shows a P40,000 service charge for June.4. What amount should be reported as cash in bank on June 30?

Question

Accepted Answer

Calculation of Adjusted cash in bank balance is as follows: