Suggested Solution:

Question No.1

Answer: C

Balance per bank statement, 12/31/10 P547,8

Add: Deposits in transit P134,250
Bank error-deposit not recorded 6,000 140,2
Total 688,0
Less: Outstanding checks 98,8
Adjusted bank balance, 12/31/10 P589,2
Balance per books, 12/31/10 P687,5
Add: Book error- Check No. 748 P15,000
Customer note collected by bank 46,290 61,2
Total 748,8
Less: Dishonored note 142,650
Book error-improperly recorded deposit 1,950
NSF check 12,960
Bank service charges 2,100 159,6
Adjusted book balance, 12/31/10 P589,2