Sassy company PROBLEM 3-1

Bank reconciliation- JUNE 30 Computation of book balance

Bank balance 1,000,000 Balance, June 30 1,000,000
Add: Note collected 300,000 Book debits 4,000,000
TOTAL 1,300,000 Book credits -3,600,000
Less: NSF check -100,000 Book balance, July 1 1,400,000
Bank service charge -4,000
Bank balance 1,196,000 Computation of bank balance
Balance, June 30 1,650,000
Bank credits 3,500,000
Bank balance 1,650,000 Bank debits -2,500,000
Add: Deposit in transit 400,000 Bank balance, July 1 2,650,000
TOTAL 2,050,000
Less: Outstanding checks -854,000 Book balance, July 1 1,400,000
Bank balance 1,196,000 Add: Cm 500,000
TOTAL 1,900,000
Less: Bank service charge -1,000
Bank balance, July 31 2,650,000 Book balance, July 1 1,899,000
Add: Deposit in transit 1,100,000
TOTAL 3,750,000 Deposit in transit, June 30 400,000
Less: Outstanding checks -1,851,000 Books debit 4,000,000
Bank balance, July 31 1,899,000 Credit memo -300,000
TOTAL 3,700,000
Bank credits -3,500,000
Credit memo 500,000
TOTAL -3,000,000
Deposit in transit, July 31 1,100,000

Outstanding checks, June 30 854,000

Books credits 3,600,000
Debit memo -104,000
TOTAL 3,496,000
Bank debits -2,500,000
Debit memo 1,000
TOTAL -2,499,000
Outstanding checks, July 31 1,851,000

Fame company PROBLEM 3-3 Queen company PROBLEM 3-4

Book balance, July 1 1,270,000 Balance per bank, November 30 2,000,000

Book debits 3,400,000 December deposit 2,600,000
Book credits -4,200,000 December disbursements -2,200,000
470,000 Balance per bank, December 31 2,400,000
Bank balance, July 1 1,720,000 Outstanding checks -250,000
Bank credits 5,000,000 Balance per bank, December 31 2,150,000
Bank debits -4,020,000
2,700,000

Book balance, July 31 470,000

Add: Note collected 1,500,000
TOTAL 1,970,000
Less: Service charge -20,000
1,950,000

Bank balance, July 31 2,700,000

Add: Deposit in transit 400,000
TOTAL 3,100,000
Less: 107 and 108 -1,150,000
1,950,000

King company PROBLEM 3-6

Mar-31 Receipts Disbursement Apr-31

Book balance 200,000 800,000 720,000 280,000
Noted collected by bank
Mar-31 60,000 -60,000
Apr-30 100,000 100,000
Service charge
Mar-31 -8,000 -8,000
Apr-30 2,000 -2,000
NSF check
Mar-31 -20,000 -20,000
Apr-30 30,000 -30,000
Deposit in transit
Mar-31 -80,000 80,000
Apr-30 -220,000 -220,000
Outstanding checks
Mar-31 178,000 178,000
Apr-30 -372,000 372,000
Bank balance 330,000 700,000 530,000 500000
Pollux company PROBLEM 3-2

Bank balance, October 31 600,000

Bank debits 2,200,000
Bank credits -1,800,000
Bank balance, November 30 1,000,000

Book balance, October 31 400,000

Book credits 2,500,000
Book debits -1,970,000
TOTAL 930,000

Deposit in transit, October 31 300,000

Book debits 2,200,000
Undeposited 90,000
Bank credits -2,500,000
Credit memo 100,000
TOTAL -2,400,000
Deposit in transit, November 30 190,000

Outstanding checks, October 31 100,000

Book credit 1,800,000
Understated check 270,000
TOTAL 2,070,000
Bank debits -1,970,000
Debit memo 200,000
TOTAL -1,770,000
Outstanding checks, November 30 400,000

Castor company PROBLEM 3-5

Balance per book, October 31 990,000

Book debits 710,000
Book credits -1,200,000
Balance per book, November 30 500,000
Balance per bank, October 31 1,100,000
Bank credits 500,000
Bank debits -1,000,000
Balance per bank, November 30 600,000

Deposit in transit, October 31 45,000

Books debit 710,000
Cash reciepts -100,000
Deposit outsanding -45,000
Bank credits -500,000
Bank error 10,000
Deposit in transit, November 30 120,000

Jul-31 Recipts
Book balance 800,000 5,000,000
Book error -180,000
Book error
Book error -200,000
Book error
NSF check
Jul-31 100,000
Aug-31
Note collected
Jul-31 200,000 -200,000
Aug-31 200,000
Deposit in transit
Jul-31 600,000 -600,000
Aug-31 480,000
Outstanding check
Jul-31 -100,000
Aug-31
Bank balance 1,600,000 4,500,000
Bank balance, November 30 1,000,000
Add: Undeposited collections 90,000
Understated check -270,000
820,000
Book balance, November 30 930,000
Add: Deposit in transit 190,000
Check 200,000
TOTTAL 1,320,000
Less: Outstanding checks -400,000
Bank erroneous -100,000
820,000

Outstanding checks, October 31 125,000

Book credits 1,200,000
Debit memo -5,000
Debit memo 60,000
Bank debits -1,000,000
Outstanding checks, November 30 380,000

Book balance, November 30 500,000

Book error -100,000
Service charge -50,000
Nsf check -10,000
Book balance, November 30 340,000

Bank balance, November 30 600,000

Deposit in transit 120,000
Outstanding checks -380,000
Bank balance, November 30 340,000

Disbursement Aug-31
3,940,000 1,860,000
-180,000
-540,000 540,000
-200,000
-400,000 -400,000

100,000
-50,000 50,000

200,000

480,000

-100,000
650,000 -650,000
3,600,000 1,700,000