4G I1:26 PMO 4G77[Template] FAB..Balance2,755*This is the correct amount of check number 5624.Required: Prepare Aries Company's bank reconciliation at August 31.Republic of the PhilippinesDepartment of Education Region III – Central Luzon SCHOOLS DIVISION OF CITY OF BALANGABATAAN NATIONAL HIGH SCHOOL - SENIOR HIGH SCHOOLCity of Balanga, BataanWeek 2 - Activity 3Sagittarius Store deposits all receipts intact on the day received and makes all payments by check. On April 30,after all posting was completed, its Cash account showed P6,752 debit balance. However, its April 30 bankstatement showed only P6,905 on deposit in bank on that day. The following information are available.a. Outstanding checks, P1,900.Included with the April cancelled checks returned by the bank was a debit memorandum for bankservices for P118.bChecksNo.4345, returned with the cancelled checks, was correctly drawn for P580 in payment for theс.telephone bill and was paid by the bank on April 15 but it had been recorded by a debit to TelephoneExpense and credit to Cash for P850.The April 30 cash receipts, P1,899 were placed in the bank's night depository after banking hours on thedate and were unrecorded by the bank at the time the April bank statement was prepared.d.Required: Prepare a bank reconciliation statement for Sagittarius Store at April 30 and give the journalentries needed as a result of having prepared the bank reconciliation.Week 2 - Activity 4The following data pertains to Cancer Enterprise:Balance per bank statement dated May 31 is P61,140.b. Balance of Cash in Bank account on the company's book as of May 31 is P57,970.c. Outstanding checks as of May 31, totals P29.931.d. Bank deposits of May 31 for P4,710 was not included in the deposits per bank statement.e. The bank collected a P5,225 note that it credited to Cancer Enterprise account. The bank charged thecompany a collection fee of P30 on the above note.f. The bank erroneously charged the Cancer Enterprise account for P21,000 check for another companythat has a similar account number.g. Bank service charges of May, exclusive of the collection fee, amounted to P150.a.h. Among the cancelled checks was one for P1,045 given in payment of an account. The bookkeeper hadrecorded the check at P1,450 in the company records.A check of Roland Sotto, a customer, for P6,231, deposited on May 20, was returned check on thecompany's records.A check for P2,470 of Edrian Arias, a customer, which had been deposited in bank, was erroneouslyi.j-recorded by the bookkeeper as P2,740.Required: Prepare a bank reconciliation statement as of May 31 of the current year. Also prepare anynecessary journal entries.Week 2 – Activity 5The following information pertains to the Virgo Company:P73,350Balance per bank statementLedger account balance for cash on November 30.Note collected by bankBank chargesDeposit in transitNSF check deposited and returned63,6754,500454,158378Outstanding checksBank error - deducted P225 from Virgo Company account forCheck acrually written for P22507,731Required:1. Prepare the bank reconciliation for Virgo Company at November 30, of the current year.2. Record in general journal from the entries necessary to bring the book balance of Cash into agreementwith the adjusted book balance on the reconciliation....II

Sagittarius Store deposits all receipts intact on the day received and makes all payments by check. On April 30, after all posting was completed, its Cash account showed P6,752 debit balance. However, its April 30 bank statement showed only P6,905 on deposit in bank on that day. The following information are available. a. Outstanding checks, P1,900. b. Included with the April cancelled checks retumed by the bank was a debit memorandum for bank services for P118. c. Checks No. 4345, returned with the cancelled checks, was correctly drawn for P580 in payment for the telephone bill and was paid by the bank on April 15 but it had been recorded by a debit to Telephone Expense and credit to Cash for P850. d. The April 30 cash receipts, P1,899 were placed in the bank's night depository after banking hours on the date and were unrecorded by the bank at the time the April bank statement was prepared. Required: Prepare a bank reconciliation statement for Sagittarius Store at April 30 and give the journal entries needed as a result of having prepared the bank reconciliation.

Sagittarius Store deposits all receipts intact on the day received and makes all payments by check. On April 30, after all posting was completed, its Cash account showed P6,752 debit balance. However, its April 30 bank statement showed only P6,905 on deposit in bank on that day. The following information are available. a. Outstanding checks, P1,900. b. Included with the April cancelled checks retumed by the bank was a debit memorandum for bank services for P118. c. Checks No. 4345, returned with the cancelled checks, was correctly drawn for P580 in payment for the telephone bill and was paid by the bank on April 15 but it had been recorded by a debit to Telephone Expense and credit to Cash for P850. d. The April 30 cash receipts, P1,899 were placed in the bank's night depository after banking hours on the date and were unrecorded by the bank at the time the April bank statement was prepared. Required: Prepare a bank reconciliation statement for Sagittarius Store at April 30 and give the journal entries needed as a result of having prepared the bank reconciliation.

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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17. In preparing its August 31, 2022 bank reconciliation, AA Corp. has available following information: Balance per bank statement, 8/31/22, P18, 050 Deposit in transit, 8/31/22,P3, 250 Return of customer’s check for insufficient funds, 8/29/22, P600 Outstanding checks, 8/31/22, P2, 750 Bank service charges for August, P100 Check disbursement recorded in August (correct amount is P5,000), P500 AA deposited P15,000 in August but credited by bank at, P1,500 What is the unadjusted balance per book on August 31, 2021?
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Q3) The following information is available to assist you in preparing a bank reconciliation for Calico Corners on May 31, 2012:a. The balance on the May 31, 2012, bank statement is $8,432.11.b. Not included on the bank statement is a $1,250 deposit made by Calico Corners late on May 31.c. A comparison between the canceled checks returned with the bank statement and the company records indicated that the following checks are outstanding at May 31:No 123 $23.40No 127 145.00No 128 210.80No 130 67.32d. The Cash account on the company's books shows a balance of $9,965.34e. Thank bank acts as a collection agency for interest earned on some municipal bonds held by Calico Corners. The May bank statement indicates interest of $465 earned during the month.f. Interest earned on the checking account added to Calico Corners' account during May was $54.60. Miscellaneous bank service charges amounted to $50.00.g. A customer's NSF check in the amount of $166.00 was returned with the May bank…
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