BMSH2003

Name: __________________________________ Section: ______________ Score: ___________

ACTIVITY
Answer the following items. Show your computations. (5 items x 5 points)

1. In preparing the August 31, 201A bank reconciliation, Abraham Company provided the following
information:
Balance per bank statement P1,805,000
Deposit in transit 325,000
Return of customer’s NSF check 60,000
Outstanding checks 275,000
Bank service charge for August 10,000

On August 31, 201A, what is the adjusted cash in bank? ____________________

2. In preparing the bank reconciliation on December 31, 201A, Gideon Company provided the following data:
Balance per bank statement P3,800,000
Deposit in transit 520,000
Amount erroneously credited by bank to Gideon’s account 40,000
Outstanding checks 675,000
Bank service charge for August 5,000

What is the adjusted cash balance on December 31, 201A? _______________________

3. In an audit of Samson Company on December 31, 201A, the following data are gathered:
Balance per book P1,000,000
Bank charges 3,000
Outstanding checks 235,000
Deposit in transit 300,000
Customer’s note collected by the bank 375,000
Interest on customer note 15,000
Customer check returned NSF 62,000

What is the unadjusted bank balance on December 31, 201A? __________________

What is the adjusted cash in bank on December 31, 201A? _____________________

4. David Company prepared the following bank reconciliation on December 31, 201A:
Balance per bank statement P2,800,000
Add: Deposit in Transit P195,000
Checkbook printing charge 5,000
Error made by David in recording Check No. 14
(Issued in December) 35,000
NSF Check 110,000 345,000
3,145,000
Less: Outstanding checks 100,000
Note collected by bank (includes P15,000 interest) 215,000 315,000
Balance per books P2,830,000
The entity had P200,000 cash on hand on December 31, 201A. What amount should be reported as cash in the
statement of financial position on December 31, 201A? ____________________

Rubric for scoring:

Performance Indicators Points
Correct accounts and amounts used 3
Computed final amounts are correct/balanced 2
Total 5

06 Activity 1 *Property of STI

Page 1 of 1