CASH BANK RECONCILIATION

1. Information in relation to Ant Company’s bank reconciliation for July

Deposits made by Ant Company in July P 950,000
Deposits recorded by bank in July 1,020,000
Deposit in transit, June 30, 2016 225,000
Credit memo – loan proceeds in June 150,000
Credit memo – loan proceeds in July 100,000
The amount of deposits in transit at July 30, 2016 is

2. The following were provided by Bat Company for the month of June
 Deposits and credit memos recorded by the bank in June, including interest of P2,500;
P480, 000
 Total debits to Cash in all journals during June, P555,000
 Deposit in transit as of May 31, P60,000
 Interest income reflected in the May bank statement, recorded only in the books in June,
P4,000
 Loan proceeds reflected in the May bank statement recorded only in the books in June,
P82,000
 Direct payment to the bank by Bat Company’s customers. Bat Company was not
informed of the said payment as of June 30, P47,000
The deposit in transit at June 30 is

3. The following were provided by Cat Company for the month of October
 Total book debits for the month of October P510,000
 Total bank credits for the month of October P575,000
 Deposit in transit at October 30, P39,600
 October deposits for P43,000 was recorded in the books at P34,000
 A deposit in October by Cat Company for P12,000 was recorded by the bank in another
account
 Credit memo for the month of September, P6,000 was recorded by Cat Company only in
October
 Interest income for the month of October, P3,500 has not been recorded in the books
The deposit in transit at the beginning of October is

4. The following were provided by Dog Company related to December

Checks issued by Dog Company in December P780,000
Checks paid by the bank in December 820,000
Outstanding checks, November 30, 2016 70,000
Debit memo – NSF checks in December 14,000
Debit memo – NSF checks in November 22,000
The amount of outstanding checks at December 31, 2016 is

5. The following were provided by Eagle related to August

 Total bank debits for the month of August, P675,000
 Total book credits for the month of August, P647,000
  Outstanding checks at July 31, P140,000
 Debut memo – July service charges/NSF checks, P28,000
 Debit memo – August service charges/NSF checks, P33,000
The amount of outstanding checks at August 31, 2016 is\

6. The following were provided by Falcon Company for the month of June
 May bank charges, recorded on the books only in June, P6,000
 Customer’s NSF check returned as a bank charges in June (no etry made on books),
P9,000
 Customer’s NSF check returned in May and re-deposited in June (no entry made in books
in either May or June), P5,000
 Outstanding checks as of June 30, P90,000
 Deposit in transit as of June 30, P55,000
 Checks against Falcone Company was charged to Falcon Company by the bank in June,
P20,000. No corrections were yet made as of June 30
 Check for P25,000 written in June 18, was recorded in the disbursements journal as
P52,000
 Check for P16,000 written on June 28, was recorded in the disbursements journal as
P1,600
 Checks and charges recorded by the bank in June, including a June service charge of
P3,500; P276,000
 Total credits to Cash in all journals during June, P264,000
The amount of outstanding checks are the beginning of June

7. Goose Company has gathered the following information in relation to its checking account in
BDO for the month of April
 Balance per books April 30, P125,000; per bank statement April 30, P104,000
 Deposits still in transit at April 30 was P47,000
 NSF checks returned by the bank in April was P28,000 and April charges amounted to
P6,000
 Checks issued but have not yet cleared by April 30 was P33,000
 Proceeds from loan directly credited to Goose Company’s account amounted to P25,000,
while interested on deposits amounted to P2,000
a. The adjusted balance per book is b. The adjusted balance per bank is

8. Horse Company has gathered the following information in relation to its current account in
BPI for the month of June
 Cash in bank – BPI, P147,000; BPI bank statement balance, P175,500.
 Proceeds of note sent by Horse Company to BPI for collection, P75,000. No entry has
been made when the note was sent for collection.
 Outstanding checks at the end of June, P37,000
 Deposit in transit at the end of June, P62,000
 Customers’ checks totaling P35,000, deposited in June 26 were returned marked as
“Drawn Against Unfunded Deposits”
  A deposit of Horse Company for P7,500 was recorded by the bank in another account;
subsequently to Horse Company’s account
 Deposit in June 25 for P19,000 was recorded at P14,000; deposits in June 18 for P56,000
was recorded at P65,000
 Checks written and issued in June 27 for P6,000 was recorded at P600; while checks
written and issued in June 28 for P2,200 was recorded at P22,000
 Checks issued by Horse Company for P4,500 was charged erroneously by the bank
against Hearse Company
 Interest income for the month of June P3,900; service charges for the month of June
P2,400
a. The adjusted balance per book is b. The adjusted balance per bank is

9. The cash amount of Iguana Company disclosed a balance of P1,128,240 on October 31,
while the bank statement showed a balance of P1,470,300. Comparing the statement with the
cash records, the following facts were developed.
 Customer’s note discounted on October 12; dishonored October 26 and the bank charge
Iguana Company, P305,000 which included a service charge of P5,000
 Customer’s check for P90,000 erroneously credited by the bank in another account.
Iguana Company correctly recorded this payment by the customer
 Check drawn against Iguana Company dated October 1 for P79,500 was erroneously
debited by the bank as P97,500
 Receipts of October 31 for P685,000 were deposited in the night depository box of the
bank. It was not recorded by the bank until November 1
 Check drawn against Iguana Company dated October 12 for P27,000 was erroneously
debited by the bank as P2,700
 A bank memo stated that a customer’s note for P250,000 and interest of P6,250 had been
collected on October 29, and the bank charged P1,250 as service fee. No entry was made
on the books when the note was sent to the bank for collection.
 Check number 5566 for P124,250 was entered in the cash disbursements journal at
P122,450
 Bank charges of P3,000 in October, not yet recorded on the books
 Iguana’s account was charged on October 26 for a customer’s uncollectible check
amounting to P114,300
 Check number 5599 for P3,290 was entered as P32900
 Customer’s check for P12,500 was entered asw P1,250 by both the depositor and the
bank. The bank has corrected the error by the end of October
 Outstanding checks during October amounted to, P1,239,000
a. The adjusted balance for book is b. The adjusted balance per bank is

10. The following were provided by Jaguar Company for the month of August.
 Cash balance per ledger, August 31, P857,600
 Note collected by the bank not yet recorded by Jaguar Company, P64,300, including
interest of P2,900
 NSF check returned with the bank statement P38,200
 Outstanding checks at the end of August, P79,500
  Bank service charge for August, P4,200
 Deposit in transit, August 31, P56,600
Cash Balance per bank statement is:

11. The following were provided by Kiwi Company for the month of August
 Cash balance per bank statement, August 31, P358,000
 Check to suppliers for P1,350 was recorded in the books as P13,050
 Note including interest of P1,200 collected by the bank and not yet taken up in the books:
P15,400
 NSF check returned with the banks statement; P22,100
 Customers’ deposits as reflected in the bank statement P7,000 was recorded in the books
as P700
 Deposit in transit as of August 31, 2016; P62,400
 Check drawn against the account of Key Company was erroneously debited against Kiwi
Company’s account by the bank; P16,200
 Outstanding checks as of August 31, 2016; P44,300
 Bank service charge for august 2016; P1,900
 Deposit made by Kiwi Company’s collector was erroneously credited to Kitty Company
by the bank; P9,200
The unadjusted cash balance per ledger on August 31 is