AC 52 Unit IV DIY on Proof of Cash

How much is the cash in bank balance per book?

P900,000

What is the amount of NSF Check for September?

P60,000

Determine the total debits in the bank statement.

P2,500,000

Determine the cash balance per bank statement on October 31.

P800,000

How much is the adjusted bank balance as of September 30?

P1,960,000

How much is the adjusted cash receipts for the month of October?
P1,330,000

How much is the adjusted cash disbursement for the month of October?
P2,260,000
How much is the adjusted book balance as of October 31?
P1,030,000

Prepare a compound adjusting entry to correct the cash in bank balance on October 31.
Dr. Cash in bank - 130,000; Cr. Accounts receivable - 10,000; Cr. Salaries expense - 120,000
Dr. Cash in bank - 130,000; Cr. Salaries expense - 120,000; Cr. Accounts receivable - 10,000
Dr. Cash - 130,000; Cr. Accounts receivable - 10,000; Cr. Salaries expense - 120,000
Dr. Cash - 130,000; Cr. Salaries expense - 120,000; Cr. Accounts receivable - 10,000

See solution in accompanying excel file