BANK RECONCILIATION

On March 31, 2020, Zenaida Algaba Transit has the following relevant information concerning its bank reconciliation:
 Bank statement details –
Balance, March 1 P308,000
Deposits 511,980
Checks cleared 541,180
DAUD Check from Casecnan Consortium 1,000
Note collected with interest of P800 16,800
Interest on Bank balance 360
Service charges 140
 Per Books-
Balance, March 1 P283,500
Deposits 514,680
Checks 530,000
 Additional information-
o The entity overstated one of its deposits by P200; the bank recorded it correctly.
o The bank cleared a P1,780 check as P1,870; the error has not been corrected by the bank
o The February reconciliation yielded deposits in transit of P15,500 and outstanding checks of P40,000.
Determine the following:
___1. Deposit in transit
___2. Outstanding checks

On May 31, 2020, the Herson Amolo Fabricators had a cash balance per books of P57,815. The May bank statement from the
Katipunan Development Bank reported a balance of P68,586. A comparison of the statement with the cash account revealved the
following facts:
 The statement included a debit memo of P300 for the cost of two checkbooks.
 Cash sales of P8,361.50 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were
incorrectly made for P8,461.50. the bank credited Herson Amolo Fabricators for the correct amount.
 Outstanding checks at May 31 totaled P12,762.50, and deposits in transit were P9,361.50.
 On May 18, the company issued check no. 1181 for P6,580 to Citra Steel on account. The check which cleared the bank in
May, was incorrectly journalized and posted by Herson Amolo Fabricators for P6,850.
 A P20,000 note receivable was collected by the bank for Herson Amolo Fabricators on May 31 plus P800 interest. The bank
charged a collection fee of P200. The only entry made in May by the company for the note was to accrue interest through
May 31.
 Included with the cancelled check issued by the Garcia Company to E. Flores for P6,000 that was incorrectly charged to the
Herson Amolo Fabricators.
 On May 31, the bank statement showed an DAIF charge of P7,100 for a check issued by Gomez Realty, a customer to the
Herson Amolo Fabricators on account.
Determine the following:
___3. Adjusted balance of cash in bank

The following data were taken from ABCD’s check register for the month of April. ABCD’s bank reconciliation for March showed one
outstanding check, check no. 178 for P2,150 (written on March 20), and one deposit in transit for P4,350 (made on March 31).
Date (2020) Item Checks Deposits Balance
April 01 Beginning bal. 6,150
01 Deposit 26,167 32,317
01 Check no. 179 250 32,567
04 Check no. 180 10,673 21,898
27 Deposit 11,774 33,672
29 Check no. 181 13,217 20,490
The following is from ABCD’s bank statement for April:
Date (2020) Item Checks Deposits Balance
April 01 Beginning bal. 3,950
03 Check no. 179 250 3,700
03 Deposit 4,350 8,050
05 Check no. 180 10,673 (2,623)
05 Automatic loan 8,150 5,527
05 Deposit 26,417 31,944
20 NSF Check 1,000 30,944
20 Service charge 600 30,344
30 Interest 82 30,426

___4. Assume that any errors or discrepancies you find are ABCD’s, not the bank’s. What is the adjusted cash balance as of April 30