GO RUSH Co.'s check register shows the following entries for the month of December: Date Checks Deposit Balance Dec 1 Beginning Balance P 89,300 5 Deposit 65,000 154,300 7 Check # 14344 32,500 120,800 11 Check # 14345 14,000 106,800 26 Deposit 49,000 155,800 29 Check # 14346 8,600 147,200 BAMA’s bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (written on November 28), and one deposit in transit for P5,500 (made November 29) The following is from BAMA’s bank statement for December: Date Checks Deposits Balance Dec 1 Beginning Balance P95,750 1 Deposit 5,500 101,300 4 Check # 14344 32,500 68,600 5 Deposit 56,000 124,800 14 Check # 14345 14,000 110,800 15 Loan proceeds 500,000 610,800 20 NSF checks 7,600 603,200 29 Service Charge 1,000 602,200 31 Interest 3,600 605,800 Assume that all errors were committed by BAMA Company, not the bank. Based on the problem above determine the following: 1. Adjusted cash balance on November 30? 2. Outstanding checks on December 31? 3. Deposit in transit on December 31?
GO RUSH Co.'s check register shows the following entries for the month of December:
|
Date |
|
Checks |
Deposit |
Balance |
|
Dec 1 |
Beginning Balance |
|
|
P 89,300 |
|
5 |
Deposit |
|
65,000 |
154,300 |
|
7 |
Check # 14344 |
32,500 |
|
120,800 |
|
11 |
Check # 14345 |
14,000 |
|
106,800 |
|
26 |
Deposit |
|
49,000 |
155,800 |
|
29 |
Check # 14346 |
8,600 |
|
147,200 |
BAMA’s bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (written on November 28), and one deposit in transit for P5,500 (made November 29)
The following is from BAMA’s bank statement for December:
|
Date |
|
Checks |
Deposits |
Balance |
|
Dec 1 |
Beginning Balance |
|
|
P95,750 |
|
1 |
Deposit |
|
5,500 |
101,300 |
|
4 |
Check # 14344 |
32,500 |
|
68,600 |
|
5 |
Deposit |
|
56,000 |
124,800 |
|
14 |
Check # 14345 |
14,000 |
|
110,800 |
|
15 |
Loan proceeds |
|
500,000 |
610,800 |
|
20 |
NSF checks |
7,600 |
|
603,200 |
|
29 |
Service Charge |
1,000 |
|
602,200 |
|
31 |
Interest |
|
3,600 |
605,800 |
Assume that all errors were committed by BAMA Company, not the bank. Based on the problem above determine the following:
1. Adjusted cash balance on November 30?
2. Outstanding checks on December 31?
3. Deposit in transit on December 31?
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