Scribd Logo
Upload

Welcome to Scribd!

  • September 3, 2020, 730AM Group # 4 Members: Cagape, Patrice Cercado, Geran Jimenez, Angel Quiñanola, Alana Resabal, Mariel Sarmillo, Wenzel

    Uploaded by

    Angel Kaye Nacionales Jimenez
    7 views3 pages
    The bank reconciliation for Bench Company for the month of December 31, 2016 shows an adjusted cash balance of ₱699,272.20 based on an ending balance per books of ₱590,884.60 and an ending balance per bank statement of ₱892,346.30. Various additions and subtractions were made to account for transactions and errors in order to reconcile the two balances. The company also has ₱8,500,000 in current net receivables consisting of accounts receivable from customers of ₱8,200,000 less an allowance for doubtful accounts of ₱200,000 plus accounts receivable from officers of ₱500,000.

    Original Description:

    Original Title

    730am Group 4

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The bank reconciliation for Bench Company for the month of December 31, 2016 shows an adjusted cash balance of ₱699,272.20 based on an ending balance per books of ₱590,884.60 and an ending balance per bank statement of ₱892,346.30. Various additions and subtractions were made to account for transactions and errors in order to reconcile the two balances. The company also has ₱8,500,000 in current net receivables consisting of accounts receivable from customers of ₱8,200,000 less an allowance for doubtful accounts of ₱200,000 plus accounts receivable from officers of ₱500,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views3 pages

    September 3, 2020, 730AM Group # 4 Members: Cagape, Patrice Cercado, Geran Jimenez, Angel Quiñanola, Alana Resabal, Mariel Sarmillo, Wenzel

    Uploaded by

    Angel Kaye Nacionales Jimenez
    The bank reconciliation for Bench Company for the month of December 31, 2016 shows an adjusted cash balance of ₱699,272.20 based on an ending balance per books of ₱590,884.60 and an ending balance per bank statement of ₱892,346.30. Various additions and subtractions were made to account for transactions and errors in order to reconcile the two balances. The company also has ₱8,500,000 in current net receivables consisting of accounts receivable from customers of ₱8,200,000 less an allowance for doubtful accounts of ₱200,000 plus accounts receivable from officers of ₱500,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    September 3, 2020, 730AM

    Group # 4
    Members: Cagape, Patrice
    Cercado, Geran
    Jimenez, Angel
    Quiñanola, Alana
    Resabal, Mariel
    Sarmillo, Wenzel
    Bench Company
    Bank Reconciliation
    For the month ended December 31, 2016

    Balance per books, end ₱ 590,884.60 Balance per bank ₱ 892,346.30


    statement, end.

    Add: Proceeds of bank loan 97,000.00 Add: Receipts of 53,172.00


    12/31/16 deposited on
    01/2/17

    Proceeds of note 20,350.00 Deposit of 28,924.10


    collected by bank 12/23/16 omitted from
    bank records

    Less: Service Charges (225.00) Less: Outstanding (333,788.20)


    Checks

    Check of Rome (8,737.40) Add: Bank Errors 10.00


    Products charged for lack
    of signature

    Add: Check of Birch 26,900.00


    Company charged in
    error to the company’s
    account

    Add: Erroneous debit by 50,000.00


    the bank for bank loan
    paid by the Co.

    Less: Bank error in (100.00)


    entering deposit

    Less: Deposit of Birch (18,192.00)


    Co. erroneously credited
    by bank

    Adjusted cash balance ₱ 699,272.20 Adjusted cash balance ₱ 699,272.20


    Accounts Receivable - Customers 8,200,000
    (7,800,000 + 400,000 postdated checks)

    Allowance for Doubtful Accounts (200,000)

    Accounts Receivables- Officers 500,000

    Total Current Net Receivables 8,500,000

    You might also like