Problem 60

Ron Company provided the following data for the month of January:

Balance per book, January 31 3,130,000

Balance per bank statement, January 31 3,500,000
Collections on January 31 but undeposited 550,000
NFS check received from a customer returned by the bank on
February 5 with the January bank statement 50,000
Checks outstanding on January 31 650,000
Bank debit memo for safety deposit box rental not
recorded by depositor 5,000
A creditor check for P30,000 was incorrectly
recorded in the depositor’s book as 300,000
A customer check for P200,000 was recorded by
the depositor as 20,000
The depositor neglected to make an entry for a check drawn
in payment of an account payable 125,000

What amount should be reported as adjusted cash in bank on January 31?

Problem 61

Lazer Company had the following bank reconciliation on June 30:

Balance per bank statement, June 30 3,000,000

Deposit in transit 400,000
Total 3,400,000
Outstanding checks ( 900,000)
Balance per book, June 30 2,500,000

The bank statement for the month of July showed the following:

Deposits, including P200,000 note collected for lazer 9,000,000

Disbursements, including P140,000 NSF customer check
And P10,000 service charge 7,000,000

All reconciling items on June 30 cleared the bank in July. The

outstanding checks totaled P600,000 and the deposit in transit
amounted to P1,000,000 on July 31.

1. What is the adjusted cash in bank on July 31?

2. What is the cash balance per book on July 31?
3. What is the amount of cash receipts per book in July?
4. What is the amount of cash disbursements per book in July?