Pertaining to Cash Receipts Journal and Deposit column of the bank statement) 1. How much is the total of your Cash Receipts Journal? Answer. 2. How much is the total of your Cash Disbursement Journal? Answer: 3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A? Answer. 4. How much is the total deposit column of Banco de Oro bank statement? Answer: 5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much is the amount of difference? Answer:
Pertaining to Cash Receipts Journal and Deposit column of the bank statement) 1. How much is the total of your Cash Receipts Journal? Answer. 2. How much is the total of your Cash Disbursement Journal? Answer: 3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A? Answer. 4. How much is the total deposit column of Banco de Oro bank statement? Answer: 5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much is the amount of difference? Answer:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 47E
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Question
Transcribed Image Text:4. Describe the nature of a bank reconciliation statement.
5. Identify common reconciling items and describe each of them.
6. Analyze the effects of the identified reconciling items.
Reference: Quarter 1 Module 9 - Fundamentals of Accountancy, Business and Management 2
LEARNING ACTIVITY 9:1
Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank
Statement of Banco de Oro.
Cash Receipts Journal
O.R. Number
0001
0002
Amount
Date
Payor
P 30,000
June 3
Odessa Allera
20,000
5,000
10,000
20
Arnold Navales
0003
Juanita Nambatac
29
30
0004
Kyle Jamora
Cash Disbursements Journal
Check Number
6581
.6582
6583
6584
Amount
Date
Рayee
Star 5 Grocery
DX Convenience Store
MY Store
Eddie Gomez
P 5,000
7,000
10,000
June 5
15
21
8,000
9,000
25
28
Rodolfo de la Torre
6585
Banco de Oro
Bank Statement
For the month of June, 20A
Date
Withdrawal
Deposit
P 30,000
Balance
June 4
P 30,000
25,000
45,000
15
6581
P 5,000
21
20,000
25
6584
8,000
37,000
28
6585
9,000
28,000
MAASIM GROCERY
Maasim, Sarangani
Count - Credits
P 50,000
22,000
P 28,000
2
Count - Debit
3
Province
Balance Last Statement
Answer the following questions:
(Pertaining to Cash Receipts Journal and Deposit column of the bank statement)
1. How much is the total of your Cash Receipts Journal?
Answer:
2. How much is the total of your Cash Disbursement Journal?
Answer:
3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A?
Answer:
4. How much is the total deposit column of Banco de Oro bank statement?
Answer:
5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much is
the amount of difference?
Answer:
6. What do you call the amount of difference between your total Cash Receipts Journal against the deposit column
of the bank statement?
Answer:
7. What do you do with this amount of difference? Are you going to add to or deduct from the unreconciled bank
balance for the month of your bank reconciliation?
Answer:
(Pertaining to Cash Disbursements Journal and Withdrawal column of the bank statement)
1. How much is the total withdrawal column of the bank statement?
Answer:
2. How much is the amount of difference between your Cash Disbursements Journal and the total withdrawal
column of the bank statement?
Answer:
3. What do you call the amount of difference between your Cash Disbursements Journal and the total withdrawal
column of the bank statement?
Answer:
4. What do you do with the amount of difference? Are you going to add to or deduct from the unreconciled bank
balance for the month of Junes bank reconciliation?
Answer:
REQUIRED:
a. Prepare Bank Reconciliation Statement for Maasim Grocery for the month of June.
b. Prepare adjusting journal entries to bring the book and the bank in a reconciled balance.
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