Beruflich Dokumente
Kultur Dokumente
a. 1,855,000
b. 1,795,000
c. 1,785,000
d. 1,755,000
Solution 15 – 1 Answer a
Total 2,130,000
Outstanding checks (275,000)
The customer check which is returned for insufficient fund and the bank
service charge are ignored because these are book reconciling items.
a. 3,685,000
b. 3,645,000
c. 3,600,000
d. 3,605,000
a. 3,550,000
b. 3,660,000
c. 3,610,000
d. 3,655,000
Solution 15 - 2
Question 1 Answer d
Question 2 Answer b
Core Company provided the following data for the purpose of reconciling
the cash balance per book with the balance per bank statement on
December 31:
on December 27 150,000
a. 1,500,000
b. 1,400,000
c. 1,800,000
d. 1,450,000
Solution 15 – 3 Answer a
Note that NSF checks of P50,000 are already deposited and cleared on
December 27.
Able Company received the bank statement for the month of March.
However, the closing balance of the account was unreadable.
Attempts to contact the bank after hours did not secure the desired
information.
a. 1,435,000
b. 1,530,000
c. 1,340,000
d. 1,550,000
Solution 15 – 4 Answer b
Stellar Company provided the bank statement for the month of December
which included the following information:
In comparing the bank statement to its own cash records, the entity found
the following:
a. 2,500,000
b. 2,520,000
c. 2,540,000
d. 2,800,000
Solution 15 – 5 Answer b
The cash balance per ledger is “squeezed” by working back from the
adjusted balance.
Problem 15 - 6 (IAA)
Letty Company provided the bank statement for the month of April which
included the following information:
In comparing the bank statement to its own records, the entity found the
following:
A customer check for P35,000 payable to Letty Company had not yet
been deposited and had not been recorded by the entity.
a. 900,000
b. 865,000
c. 930,000
d. 965,000
Solution 15 – 6 Answer a
a. 4,765,000
b. 4,571,000
c. 4,819,000
d. 4,801,000
Solution 15 – 7 Answer b
Solution 15 - 8
Question 1 Answer a
Total 9,450,000
Question 2 Answer d
Question 3 Answer c
The two entries can be compounded and the net effect is a debit to cash
in bank of P500,000.
Problem 15 - 9 (PHILCPA Adapted)
Solution 15 - 9
Question 1 Answer a
Question 2 Answer b
Balance per book (SQUEEZE) 8,525,000
Question 3 Answer c
The two entries can be compounded and the net effect is a debit to cash
in bank of P625,000.
Problem 15 - 10
Pearl Company maintains a checking account at the City Bank. The bank
provides a bank statement along with canceled checks on the last day of
each month. The July bank statement included the following information:
Deposits 1,800,000
Deposits outstanding totaled P100,000 and all checks written by the entity
were processed by the bank except for check of P150,000.
A P200,000 July deposit from a credit customer was recorded by the entity
as P20,000 debit to cash and credit to accounts receivable.
b. 550,000
c. 800,000
d. 950,000
a. 1,350,000
b. 1,170,000
c. 990,000
d. 890,000
Solution 15 - 10
Question 1 Answer a
Deposits 1,800,000
Checks processed (1,400,000)
Question 2 Answer b
Question 3 Answer c
Problem 16 - 1
Total 3,145,000
The entity had cash on hand P500,000 and petty cash fund P50,000 ion
December 31.
a. 3,395,000
b. 3,350,000
c. 3,445,000
d. 3,380,000
Solution 16 - 1
Question 1 Answer c
Balance per bank 2,800,000
Question 2 Answer c
Ron Company provided the following data for the month of January:
Solution 16 – 1 Answer c
Face 400,000
Interest 40,000
Total 440,000
a. 4,315,000
b. 3,925,000
c. 3,075,000
d. 4,015,000
Solution 16 – 3 Answer d
Total 4,075,000
Total 4,915,000
Problem 16 - 4 (IAA)
761 55,000
762 40,000
763 25,000
764 65,000
765 70,000
a. 1,240,000
b. 1,230,000
c. 1,210,000
d. 1,200,000
Solution 16 – 4 Answer a
a. 3,000,000
b. 2,910,000
c. 3,080,000
d. 2,990,000
Solution 16 – 5 Answer a
Total 4,805,000
Total 5,675,000
The check erroneously recorded by the depositor was made for the proper
amount of P249,000 in payment of account. However it was entered in the
cash payments journal as P294,000.
The entity authorized the bank to automatically pay its water bills as
submitted directly to the bank.
a. 3,660,000
b. 3,600,000
c. 3,630,000
d. 2,880,000
Solution 16 – 6 Answer c