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C. On July 31, Lunatic Traders showed a cash balance per books in the amount of P 29,460. The bank statement showed a balance of P 20,460. Deposit of P 18,500 made on July 31 was not reflected. Additional jnformation is as follows: Bank collection Returned check marked "DAIF" Bank service charge for the month Interest earned on the deposit Checks outstanding: P3,960 11,660 80 20 No. 6306 - P 10,000; No. 6310 - P 4,100; No. 6311 - P 3,160 REQUIRED: 1. Bank Reconciliation Statement 2. Adjusting entries necessary

C. On July 31, Lunatic Traders showed a cash balance per books in the amount of P 29,460. The bank statement showed a balance of P 20,460. Deposit of P 18,500 made on July 31 was not reflected. Additional jnformation is as follows: Bank collection Returned check marked "DAIF" Bank service charge for the month Interest earned on the deposit Checks outstanding: P3,960 11,660 80 20 No. 6306 - P 10,000; No. 6310 - P 4,100; No. 6311 - P 3,160 REQUIRED: 1. Bank Reconciliation Statement 2. Adjusting entries necessary

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Make a bank reconciliation statement and adjusting entry.

79% i 2:44 PM wsb1.JPG On July 31, Lunatic Traders showed a cash balance per books in the amount of P 29,460. The bank statement showed a balance of P 20,460. Deposit of P 18,500 made on July 31 was not reflected. Additional jnformation is as follows: Bank collection Returned check marked "DAIF" Bank service charge for the month Interest earned on the deposit Checks outstanding: C. P3,960 11,660 80 20 No. 6306 - P 10,000; No. 6310 -P 4,100; No. 6311 - P 3,160 REQUIRED: 1. Bank Reconciliation Statement 2. Adjusting entries necessary iii
Transcribed Image Text:79% i 2:44 PM wsb1.JPG On July 31, Lunatic Traders showed a cash balance per books in the amount of P 29,460. The bank statement showed a balance of P 20,460. Deposit of P 18,500 made on July 31 was not reflected. Additional jnformation is as follows: Bank collection Returned check marked "DAIF" Bank service charge for the month Interest earned on the deposit Checks outstanding: C. P3,960 11,660 80 20 No. 6306 - P 10,000; No. 6310 -P 4,100; No. 6311 - P 3,160 REQUIRED: 1. Bank Reconciliation Statement 2. Adjusting entries necessary iii
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