As the Chief Accountant of the Saionaoi Co.

You gathered the following documents to prepare a bank

reconciliation for the month of December 2020.

The bank reconciliation prepared November 30 :

Unadjusted bank balance 96,800 Unadjusted book balance 58,640

Add: Deposit in transit 18,000 Add: CM – Note collected 40,320
Total 114,800 Total 98,960
Less: Outstanding checks: Less: DM – Bank charges 160
No. 276 2,400
282 7,200
284 4,800
285 1,600 16,000
Adjusted balance 98,800 Adjusted balance 98,800

The December bank statement:

BANK OF THE PHILIPPINE ISLANDS

Account Name: Saionaoi Company
Account No. 12-000143-44
For the month of December 2020
Beginning Balance 96,800
Add: Total Credits 842,400
Less: Total Debits 131,200
Ending Balance 808,000
Transaction Details
Date Description/Details Debits Credits
Dec. 1 Deposit 18,000
2 Deposit 40,000
Check payment 7,200
4 Check payment 24,000
6 Deposit 48,000
8 Credit Memo 83 400,000
10 Debit memo 97 40,000
11 Deposit 56,000
16 Check payment 20,000
18 Deposit 64,000
21 Deposit 72,400
Deposit 80,000
28 Check payment 36,000
Credit memo 84 64,000
31 Debit memo 98 4,000
Totals 131,200 842,400
Excerpts of the company’s cash receipts and cash disbursements journals for the month of December
2020:
Cash Receipts Journal Cash Disbursements Journal
Date OR No. Amount Date Check No. Amount
Dec. 1 415 40,000 Dec. 1 286 16,000
5 416 48,000 3 287 24,000
10 417 56,000 10 288 32,000
17 418 64,000 14 289 20,000
20 419 72,000 20 290 28,000
30 420 80,000 23 291 36,000
31 421 88,800 26 292 40,000
28 293 44,000
31 294 48,000
Total 440,800 Total 304,000

The company’s Cash in Bank ledger

Cash in Bank – BPI 12-000143-44

CD
12/01/2020 Balance 58,640 12/31/2020 J 304,000
12/01/2020 GJ 40,320
12/10/2020 GJ (CM 83) 400,000
12/31/2020 CRJ 440,800