MAQUILING, GIZA KEM D.

BE314- 4:30-5:30PM

PROF. EVELYN C. CANQUE

BANK RECOCILIATION QUESTIONS

1. Springer Company had outstanding checks totaling 4,500 on its September Bank
Reconciliation. In October, the company issued checks totaling 45,700. The October bank
Statement shows that checks totaling 39,800 cleared the bank. In addition a check from one
Springers customers in the amount of 500 was returned as NSF. The outstanding checks on
the October bank reconciliation should total
a. 5, 900
b. 9, 900
c. 10,400
d. 1, 400

2. Jones Company collected following to prepare its May Bank Reconciliation:

Cash Balance per books, May 31

5, 300

Deposits in Transit

510

Notes Receivable with interest collected by bank

580

Bank Service Charges

30

Outstanding Checks

1800

NSF Check

150

The adjusted cash balance per books on May 31 is

a. 5, 700
b. 5, 810
c. 6, 210
d. 5, 660

3. In an audit of Selena Company on December 31, 2009, the Following information is

gathered:
Balance per book

6,700,000

Customers check

200,000

Depositors note charge to account

650,000

Customers note collected by bank

120,000

Outstanding checks

800,000

Checkbook printing charge

2,000

Certified checks included in the outstanding

checks
Deposit in Transit

100,000

Interest earned on deposits net of 20% final tax

32,000

1,200,000

The adjusted cash in bank of Selena Company on December 31,2009 is

a. 6,050,000
b. 6,700,000
c. 6,000,000
d. 5,300,000
4. Cash book reports a bank balance on that date of 11,420. Deposits awaiting clearance
amount to 29,460. Any difference may be attributed to credit transfers from customers and
standing payments not recorded in the Cash Book.
a. 1, 680
b. 28, 190
c. 8, 710
5. The cash book reports an overdraft of 7,650, having carried over a bank balance of 21, 460
from one folio of the Cash Book to the next as 12,460 and having recorded twice bank
charges of 25. Any difference is deposit awaiting clearance.
a.16, 700
b. 1, 375
c. 1, 400

SOURECES:

http://dept.harpercollege.edu
http://wps.pearsoned.co.uk