1 Look at the check vouchers made by Able Company payable to Medare co., Inc.

: In 2015
and 2016 Look at the statement of account sent by Medare Co., Inc. representing a list of
liabilities by Able Company to Medare co. Inc. Take note that the company gets supply both
merchandise and repair services from Medare Look at the invoices and credit memos sent by
Medare for Able Company.2. Look for the unadjusted balances a. The book balance as at
December 31, 2015 Look at the CV paid in 2016; balance is 7708 b. Look at the statement of
account received from medare Inc. and determine their version of the story Balance of the
statement is 29,379 3. a. Get a four column worksheet and put the title of the schedule
as:Able CompanyReconciliation with Supplier’s account‘December 31, 2015 b. Put in the
scheduler headings:ParticularsVoucher Payable per clientAccounts receivable per supplier b.
Put in the unadjusted balances under both columns c. Match the items appearing in the
statement of account sent by Medare against the entries and details of the CV’s made by
AbleLook at invoice No 1287 see if there is any unrecorded itemP100 freight unrecorded Look
ath Invoice no 1608 – determine if there is any reconciling item Client recorded a lesser
amount P900 See CM 806 – determine if this is a reconciling item CM 806 was recorded by
client as an invoice; rather than deduction, it was added as though twiceLook at CV 12-833;
determine if this payment was recorded in the statement of account Payment was not
recorded by the supplier Look at invoice 2103 determine if there is a reconciling item Freight
paid by the client was not deducted by the supplier 300Look at invoice 2506 – whether this is
a reconciling item This should be chargeable against the client rather than the dealer of the
client p 821Look at CM 891 – determine if this is a reconciling item This CM was not recorded
by the supplierLook at invoice 2491 – determine if this is a reconciling item This was
erroneously charged against the client P1834Look at invoice 2541 whether this is a
reconciling item This is a 2016 delivery charged by the supplier in 2015 P6433Look at invoice
2652 – determine if this is a reconciling item Not recorded by client P1978Look at 2731
invoice – determine if this is a reconciling item Not recorded by client P4931Look at invoice
2462 – determine if this is a reconciling item This should have been recorded in 2016; adjust
both client and supplier P3,906Foot the schedule; determine if they are the same P7,739 for
both columnsPrepare the adjusting entries