Jaja Company showed its cash in bank details below for December 31, 2023:

Balance per bank statement P49,820

Unrecorded bank charges 92
Collections recorded but not yet deposited in the bank 5,376
NSF check, not recorded on books 1,180
Outstanding checks 3,410
Note collected by bank and not yet recorded in the books 2,350

What is the adjusted cash balance per books of Jaja Company on December 31, 2023?

a. 51,786

b. 54,812

c. 50,708
d. 44,656

Carlie & Jaymie Company has prepared bank reconciliation on December 31, 2023:

Balance per bank statement P3,500,000

Add: Deposit in transit 235,000
NSF check 90,000
Checkbook printing charge 2,500
Recording check error made by Carlie & Jaymie 42,000 369,500
Total 3,869,500
Less: Outstanding checks 95,000
Note collected by bank including 19,000 interest 185,000 (280,000)
Balance per book P3,589,500

Additional information:
The company has a petty cash fund balance of 35,000 and cash on hand of P740,000 on December 31,
2023.

What amount should be reported as cash in bank at year-end?

a. 4,364,500
b. 3,640,000
c. 4,415,000
d. 4,380,000

Carlie & Jaymie Company has prepared bank reconciliation on December 31, 2023:

Balance per bank statement P3,500,000

Add: Deposit in transit 235,000
NSF check 90,000
Checkbook printing charge 2,500
Recording check error made by Carlie & Jaymie 42,000 369,500
Total 3,869,500
Less: Outstanding checks 95,000
Note collected by bank including 19,000 interest 185,000 (280,000)
Balance per book P3,589,500
Additional information:
The company has a petty cash fund balance of 35,000 and cash on hand of P740,000 on December 31,
2023.

What amount should be reported as cash in bank at year-end?

a. 3,774,500
b. 3,640,000
c. 3,682,000
d. 3,589,500

Orange Crush Company provided the following data on December 31, 2023:
Bank statement balance P8,000,000
Checkbook balance 6,800,000
Bond sinking fund 4,000,000
Check drawn on Orange Crush, payable to supplier, dated and recorded on December 31, 2023, but not
mailed until January 14, 2024, 700,000

What amount should be reported as cash under current assets on December 31, 2023?

a. 8,700,000

b. 10,800,000

c. 7,500,000
d. 12,000,000

DW Company reported cash and cash equivalents which comprises of the following at year-end:

Cash on hand P400,000

Demand deposit 8,000,000
Certificate of deposit 2,500,000
Post-dated customer check 600,000
Petty cash fund 90,000
Traveler's check 65,000
Manager's check 210,000
Money order 100,000

What is the cash at year-end?

a. 11,265,000
b. 8,865,000
c. 11,365,000
d. 3,365,000

Elijah Company provided the bank statement for the month of November which included the following
details:

Bank balance, November 30 P4,300,000

Interest paid by bank to Elijah Company for November 27,000
Bank service charge for November 8,000
The company also found the following:
Deposits made but not yet reflected by the bank 410,000
Checks written and mailed but not yet recorded by bank 580,000

It also found out that it had drawn and recorded a check for 38,000 that should have been recorded for
83,000.

What is the cash balance per ledger on November 30?

A. 4,104,000
B. 4,130,000
C. 4,156,000
D. 4,066,000

Kz Company provided the following balances at December 31, 2023:

Cash on hand and in banks P800,000
6-months bank certificates of deposit- dues on January 18, 2024
(acquired on November 15, 2023) 795,000
Cash restricted for plant additions (expected to be disbursed in 2024) 495,000

What should be reported as cash and cash equivalents?

A. 1,295,000
B. 800,000
C. 1,595,000
D. 2,090,000

The petty cash account under the impress fund system is debited.

Only when the fund is created and when the size of the fund is increased .

What is the possible reason why does the balance shown on entity's records is more the the correct cash
balance and neither the entity nor the bank has made any errors?

Answer: Deposits credited by

the bank but not yet recorded by
the company.
Answer: Deposits credited by
the bank but not yet recorded by
the company.
Answer: Deposits credited by
the bank but not yet recorded by
the company.
Deposits credited by the bank but not yet recorded by the company

Which of the following is true about erroneous bank debit

When there is an erroneous bank debit, the cash receipts per book are overstated.
Which of the following is true concerning bank overdraft?
Classified as current liability

Which of the following must be added to the cash balance per ledger in preparing bank reconciliation to
arrive at adjusted cash balance?
Erroneous bank debit
What is the possible reason why does the balance shown on entity's records is less than the correct cash
balance and neither the entity nor the bank has made any errors?
Deposits credited by the bank but not yet recorded in the company's books

What is the possible reason why does the balance shown on entity's records is more th the correct cash
balance and neither the entity nor the bank has made any errors?
Outstanding checks

Cash restricted for plant addition is

Presented under current assets section of statement of financial position
Which of the following must be deducted from the balance per bank statement to arrive at adjusted
cash balance? any outstanding checks
What is the classification of post-dated checks? Receivable

What results if petty cash fund per cash count is lower than petty cash fund impress balance?
a. Cash shortage

The correct answer is c. Cash receipts per book is overstated

The correct answer is (d) All of the following are classified as cash
equivalents

The correct answer is d. Debit to petty cash fund.

Balance per bank statement: P3,500,000
Add: Deposit in transit: 280,000
Add: Proceeds of note collected: 1,270,000
Add: December NSF checks (redeposited and cleared): 110,000
Less: Outstanding checks: (350,000)
Less: Erroneous credit: (540,000)
Adjusted cash balance per bank: P3,270,000
Therefore, the correct answer is option A, 2,080,000,
What is the treatment for the interest paid by the bank to the depositor's account?

a. Book reconciling item that is added to the book balance

b. Book reconciling item that is deducted from the book balance
c. Bank reconciling item that is added to the book balance
d. Bank reconciling item that is deducted from the book balance