ACC 103: Conceptual Framework & Accounting Standards

Module #23 Student Activity Sheet

Materials:
Long Quiz – Proof of Cash Calculator, Pen, Activity Sheet

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PROBLEM SOLVING: PROVIDE WHAT IS ASKED IN EACH ITEM WITH COMPLETE SOLUTION.

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Use the following information for the next three questions:
Kriselda Co. has the following information for the months of June and July.

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June 30 July 31
Book balance ? 9,300

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Book debits 30,700

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Book credits 27,000
Bank balance 10,200 16,800
Bank debits 21,300
Bank credits
A ?
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Notes collected by bank 2,250 3,000
Bank service charge 20 100
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NSF checks 880 1,400

Understatement of recorded cash
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collections 1,900 1,200

Deposit in transit 6,000 11,250
Outstanding checks 9,750 17,850
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Loan amortization of Kristeta

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Corp. erroneously debited to

Kriselda Co.’s account 2,400 1,800
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1. How much is the adjusted cash receipts in July?

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PR

This document is the property of PHINMA EDUCATION

 ACC 103: Conceptual Framework & Accounting Standards
Module #23 Student Activity Sheet

2. How much is the adjusted cash disbursements in July?

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3. How much is the adjusted cash balance as of July 31?

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4. Information on Blue Curtain Co. is shown below:

31-Jan 28-Feb
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Book balance 264,400 360,000

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Book debits 120,000

Book credits 24,400
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Bank balance 201,200 370,820

Bank debits 17,320
Bank credits 186,940
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Credit memos 30,000 52,500

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Bank charges 15,600 10,680

Understatement of book receipts 4,000 -
Overstatement of book receipts - 2,800
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Deposit in transit 95,040 43,800

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Outstanding checks 13,440 15,600

Requirement: Prepare a proof of cash.

This document is the property of PHINMA EDUCATION

 ACC 103: Conceptual Framework & Accounting Standards
Module #23 Student Activity Sheet

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C
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ED
A
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PH
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PR

This document is the property of PHINMA EDUCATION