8-12:

Information on Tina’s Company is shown below:

January 31 February 28
Book balance ? 370,000
Book debits 150,000
Book credits ?
Bank balance 221,200 ?
Bank debits 57,320
Bank credits 216,940
Adjusted cash balance as of 302,800 _
Jan 31

Credit memos 30,000 52,500

Bank charges 15,600 10,680
Understatement of book 4,000 _
receipts
Overstatement of book _ 2,800
receipts
Deposit in transit 95,040 43,800
Outstanding check 13,440 15,600

13-15

Tina Company provided the following bank reconciliation on May 31:

Balance per bank statement 2,100,000
Deposits outstanding 300,000
Checks outstanding ( 30,000)
Erroneous bank credit (corrected in June) ( 10,000)
Erroneous bank charge (corrected in June) 3,000
Correct cash balance 2,363,000
Balance per book 2,372,000
Bank service charge (recorded in June) (9,000)
Correct cash balance 2,363,000

June data are as follows:

Bank Book
Cash Disbursement 2,200,000 2,260,000
Cash Receipts 1,800,000 2,000,000
Collection by bank (P400,000 note plus interest) 430,000
NSF check returned with June 30 statement 20,000
Overstatement in cash receipts 10,000
18-20

Tina Company provided the following information on December 31,2020:

Cash on hand 500,000
Petty cash fund 20,000
Security Bank current account 1,000,000
PNB Current account No. 1 400,000
PNB Current account No. 2 ' ( 50,000)
BSP treasury bill 3,000,000
BPI time deposit - 30 days 2,000,000
* The cash on hand included a customer postdated check of P 100,000 and postal money order of P40,000.
* A check for P200,000 was drawn against Security Bank account, dated January 15, 2021, delivered to the payee
and recorded December 31, 2020.
* The BPI time deposit is set aside for acquisition of equipment.
* PNB current accounts (right of offset exists)
* BSP treasury bill was purchased on December 29, 2020 and will mature on March 15, 2021
* The petty cash fund includes the following:
*P4000 placed inside an envelop tagged for the birthday party of Erika (contributed by employees)
*It also includes unreplenished PCVs amounting to P8000
*The remaining bills and coins on hand is 3,000
*An envelop was found open and inside it is a note saying “Salary of Mr. X amounting to 2,000, for safekeep of Petty
Cash Custodian”
For #26:
For #28

You are given the following bank reconciliation.

BANK RECONCILIATION
December 31, 2020
Balance per ledger P 34,349.72
Add: Collections received on the last day of
December and charged to “Cash in Bank”
on books but not deposited 5,324.50
Debit memo for customer’s checks returned unpaid (check
is on hand but no entry has been
made on the books) 4,000.00
Debit memo for bank service charge for December 1,000.00 P
46,674.22
Deduct:
Outstanding checks P 18,625
(see details below)
Credit memo for proceeds of a note receivable
which had been left at the bank for collection
but which has not been recorded as collected 8,000
Check for an account payable entered on books
as P12,625 but drawn and paid by bank as
16,225 3,600 32,225.00
Computed balance P 14,449.22
Unlocated difference 36,601.00
Balance per bank (check to confirmation) P 51,050.22

LIST OF OUTSTANDING CHECKS

December 31, 2020
Check No. Amount
14344 P 5,820
14358 1,295
14367 3,543
14399 2,001
14401 4,892
14407 5,074
P 18,625