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On March 31, 2021 the bank column of the cashbook of showed a credit balance of P118,100 (Overdraft). On examining of the cash book and the bank statement, it was found that: a) Cheques received and recorded in the cashbook but not sent to the bank of collection P12,400. b) Payment received from a customer directly by the bank P27,300 but no entry was made in the cashbook. c) Cheques issued for P175,200 not presented for payment. d) Interest of P8,800 charged by the bank was not entered in the cashbook. Prepare bank reconciliation statement.

On March 31, 2021 the bank column of the cashbook of showed a credit balance of P118,100 (Overdraft). On examining of the cash book and the bank statement, it was found that: a) Cheques received and recorded in the cashbook but not sent to the bank of collection P12,400. b) Payment received from a customer directly by the bank P27,300 but no entry was made in the cashbook. c) Cheques issued for P175,200 not presented for payment. d) Interest of P8,800 charged by the bank was not entered in the cashbook. Prepare bank reconciliation statement.

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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On March 31, 2021 the bank column of the cashbook of showed a credit balance of P118,100 (Overdraft). On examining of the cash book and the bank statement, it was found that: a) Cheques received and recorded in the cashbook but not sent to the bank of collection P12,400. b) Payment received from a customer directly by the bank P27,300 but no entry was made in the cashbook. c) Cheques issued for P175,200 not presented for payment. d) Interest of P8,800 charged by the bank was not entered in the cashbook. Prepare bank reconciliation statement.
Transcribed Image Text:On March 31, 2021 the bank column of the cashbook of showed a credit balance of P118,100 (Overdraft). On examining of the cash book and the bank statement, it was found that: a) Cheques received and recorded in the cashbook but not sent to the bank of collection P12,400. b) Payment received from a customer directly by the bank P27,300 but no entry was made in the cashbook. c) Cheques issued for P175,200 not presented for payment. d) Interest of P8,800 charged by the bank was not entered in the cashbook. Prepare bank reconciliation statement.
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