financial acntg format bank recon
Post on 14-Dec-2015
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Problem 8-11
Balance per book ₱ 1,300,000Add: Error in Check No. 765 ₱ 20,000 Check No. 555 stopped for payment 10,000 30,000Total 1,330,000
Less: Service Charge 5,0
00 NSF check 85,000 90,000Adjusted book balance ₱ 1,240,000
Balance per bank ₱ 1,200,000Add: Deposit in Transit 275,000Total 1,475,000Less: Outstanding Checks: No. 761 ₱ 55,000 No. 762 40,000 No. 763 25,000 No. 764 65,000 No. 765 50,000 235,000Adjusted bank balance ₱ 1,240,000
Adjusting entries:
Cash in Bank 10,000
Miscelleneous Income 10,000
(Check No. 555)
Cash in Bank 20,000
Accounts Payable 20,000
(Error in Check No. 765)
Accounts Receivable 85,000
Cash in Bank 85,000
(NSF check)
Bank Service Charge 5,000
Cash in Bank 5,000
(Service charge)
Receivable from Bookeeper 40,000
Accounts Receivable 10,000
Sales Discounts 30,000
(Misappropriated by bookkeeper)
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