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The information below is from the books of the Seminole Corporation on June 30: Balance per bank 11,164 statement Receipts recorded but not yet deposited in 1340 the bank Bank charges no 16 recorded

The information below is from the books of the Seminole Corporation on June 30: Balance per bank 11,164 statement Receipts recorded but not yet deposited in 1340 the bank Bank charges no 16 recorded

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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The information below is from the books of the Seminole Corporation on June 30: Balance per bank 11,164 statement Receipts recorded but 1340 not yet deposited in the bank Bank charges no 16 recorded Note collected by bank 1120 and not recorded on books Outstanding checks 1100 NSF checks - not 1600 recorded on books nor redeposited Assuming no errors were made, compute the cash balance per books in June 30 before any reconciliation adjustments.
Transcribed Image Text:The information below is from the books of the Seminole Corporation on June 30: Balance per bank 11,164 statement Receipts recorded but 1340 not yet deposited in the bank Bank charges no 16 recorded Note collected by bank 1120 and not recorded on books Outstanding checks 1100 NSF checks - not 1600 recorded on books nor redeposited Assuming no errors were made, compute the cash balance per books in June 30 before any reconciliation adjustments.
The cash in bank account of Smart, Inc. for April showed an ending balance of P129,298. Deposits in transit on April 30 was P18,200. Outstanding checks as of April 30, were P59,435, including a P5,000 check which the bank had certified on April 27. During the month of April, the bank charged back NSF checks in the amount of P3,435 of which P1,835 had been redeposited by April 20. On April 23, the bank charged Smart's account for a P2,200 items which should have been charged against Kmart, Inc., the error was not detected by the bank. During April, the proceeds from notes collected by the bank for Smart, Inc. was P7,548 and bank charges for this services was P18. a. How much is the unadjusted balance per bank on April 30? b. Refer to previous question. What is the correct cash in bank balance at April 30?
Transcribed Image Text:The cash in bank account of Smart, Inc. for April showed an ending balance of P129,298. Deposits in transit on April 30 was P18,200. Outstanding checks as of April 30, were P59,435, including a P5,000 check which the bank had certified on April 27. During the month of April, the bank charged back NSF checks in the amount of P3,435 of which P1,835 had been redeposited by April 20. On April 23, the bank charged Smart's account for a P2,200 items which should have been charged against Kmart, Inc., the error was not detected by the bank. During April, the proceeds from notes collected by the bank for Smart, Inc. was P7,548 and bank charges for this services was P18. a. How much is the unadjusted balance per bank on April 30? b. Refer to previous question. What is the correct cash in bank balance at April 30?
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