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  • Villarama, Renz Francis B. BSA 3-1 APC 3 (Activity 1)

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    Renz Villarama
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    This document provides bank and book balances for proof of cash for November and December. It lists beginning balances, receipts, disbursements and ending balances for both the bank and book. It also provides adjusting entries for items like drafts collected, bank service charges, NSF checks and book errors to reconcile the bank and book balances.

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    This document provides bank and book balances for proof of cash for November and December. It lists beginning balances, receipts, disbursements and ending balances for both the bank and book. It also provides adjusting entries for items like drafts collected, bank service charges, NSF checks and book errors to reconcile the bank and book balances.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    13 views6 pages

    Villarama, Renz Francis B. BSA 3-1 APC 3 (Activity 1)

    Uploaded by

    Renz Villarama
    This document provides bank and book balances for proof of cash for November and December. It lists beginning balances, receipts, disbursements and ending balances for both the bank and book. It also provides adjusting entries for items like drafts collected, bank service charges, NSF checks and book errors to reconcile the bank and book balances.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    PROOF OF CASH

    Required: Prepare proof of cash and corresponding adjusting entries.

    Bank
    Beggining Receipts
    Unadjusted Bank Balance 7,403.50 41,776.27
    Deposit in Transit Nov. 950 -950
    Deposit in Transit Dec. 925.4
    Outstanding Check Nov. -4463
    Outstanding Check Dec.
    Bank Error Nov. 349.5 -349.5
    Bank Error Dec.
    Adjusted Bank Balance 4,240.00 41,402.17

    Book
    Beginning Receipts
    Unadjusted Book Balance 3,561 42,700.17
    Drafts Collected Nov. 1,500 -1,500
    Drafts Collected Dec. 202
    Bank Service Charge Nov. -6
    Bank Service Charge Dec.
    NSF Check Nov. -815
    NSF Check Dec.
    Book Error
    Adjusted Book Balance 4,240 41,402.17

    Adjusting Entries
    Drafts collected by bank:
    Cash 202.00
    Notes receivable 202.00

    Bank service charge


    Bank service charge 6.80
    Cash in bank 6.80
    NSF checks
    Account receivable 118.00
    Cash in bank 118.00

    Book Error
    Cash in bank 9.00
    Accounts Payable 9.00
    Disbursements Ending
    45,317.57 3,862.20

    925.4
    -4463
    149.68 -149.68

    -60 60
    40,944.25 4,697.92

    Disbursements Ending
    41,631.45 4,629.72

    202
    -6
    6.8 -6.8
    -815
    118 -118
    9 -9
    40,944.25 4,697.92
    BANK RECONCILIATION

    Required: Prepare bank reconciliation adjusted balance method for the month year ended December 31, 2020. Pr

    BOOK
    Unadjusted balance 264,150
    Deposit in Transit
    Post dated checked received -45,000
    Unrelease Check 13,275
    Post dated checked Issued 33,489
    Note Collected 13,500
    Outstanding Check
    Bank error
    Balance 279,414
    Shortage -62,250
    Adjusted Balances 217,164

    Solutions:

    A. B.
    Unadjusted Deposit in transit 157,725
    Post-dated checked receive -45,000
    Adjusted Deposit in transit 112,725

    Adjusting entries
    Accounts receivable 45,000.00
    Cash 45,000.00

    Cash 13,275.00
    Accounts payable 13,275.00

    Cash 33,489.00
    Accounts payable 33,489.00

    Cash 13500.00
    Notes receivable 13500.00
    Cash short/over (Receivable from cashier) 62,250.00
    Cash 62,250.00
    ended December 31, 2020. Prepare all the necessary adjusting entries based on the given information.

    BANK
    315,000
    112,725

    -175,311
    -35,250
    217,164

    Unadjusted Outstanding Check 222,075


    Unreleased check -13,275
    Post-dated checked Issued -33,489
    Adjusted Outstanding Check 175,311

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