PROBLEM

1-20
ABC SERVICES, INC.
 The Following Data Are
Related to ABC Services, Inc
 Nov. 30, 2020 Dec. 31, 2020

Balance per books P 270,311.00

P 148,986.00
Balance per bank statement 294, 711.00
32,925.00
Receipts not yet deposited 21, 270.00
35,191.50
Outstanding Checks 40, 525.00
158.00
Bank Service Charges 295.00
4,925.00
Interest Credit by Bank 5,500.00
 Other Information:
a) Receipts and disbursements per books during December are P1,072,850.00 and P 1,195,536.50, respectively.

b) Total deposits/credits reflected in the bank statement amounted to P1,065,620.00.

c) Check no. 137412 for P2,300.00 recorded by depositor as P3,200.00 in error.

d) P 625 interest chargeable to ABC Trading, Inc. was erroneously charged by the bank to ABC Services, Inc.

e) Customer’s check for P5,947.00 deposited on December 28, 2020, was found to be uncollectible.

f) No sufficient fund check in the amount of P5,000.00 was returned by the bank and redeposited by ABC

Services, Inc. during December. No entry was made in the books for the return or redeposit.
 Required:
PREPARE A FOUR COLUMN
RECONCILIATION FOR ABC
SERVICES, INC.
 ABC Services, Inc.
Four-Column Reconciliation
November 30-December 31, 2019

Nov. 30 December December

Dec. 31
Receipts Disbursements
Balances per bank statement P 294,771.00 P1,065,620.00 P1,211,405.00 P 148,986.00
Deposit in Transit
November 30 21,270.00 (21,270.00)
December 31 32,925.00 32,925.00
Outstanding checks
November 30 (40,525.00) (40,525.00)
December 31 35,191.50 (35,191.50)
Erroneous charge by bank (625.00) 625.00
Correct Balances P 275,516.00 P1,077,275.00 P1,205,446.50 P147,344.50
 December December
Nov. 30 Dec. 31
Receipts Disbursements
Balances per books P 270,311.00 P 1,072,850.00 P1,195,536.50 P147,624.50
Bank Service Charges
November 30 (295.00) (295.00)
December 31 158.00 (158.00)
Credit Memo
November 30 5,500.00 (5,500.00)
December 31 4,925.00 4,925.00
Uncollectible customer’s check 5,947.00 (5,947.00)
NSF returned and redeposited in December 5,000.00 5,000.00
Check # 137412 for P2,300 recorded as
P3,200 in Error (900.00) 900.00
Correct Balances P 275,516.00 P1,077,275.00 P1,205,446.50 P147,344.50
 ABC Services, Inc.
Four-Column Reconciliation
November 30-December 31, 2019

Nov. 30 December December

Dec. 31
Receipts Disbursements
Balances per bank statement P 294,771.00 P1,065,620.00 P1,211,405.00 P 148,986.00
Deposit in Transit
November 30 21,270.00 (21,270.00)
December 31 32,925.00 32,925.00
Outstanding checks
November 30 (40,525.00) (40,525.00)
December 31 35,191.50 (35,191.50)
Erroneous charge by bank (625.00) 625.00
Correct Balances P 275,516.00 P1,077,275.00 P1,205,446.50 P147,344.50
 THANK
YOU
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