Set I.

For the month of May 2016, Tope Company issued the following checks as recorded in
its Cash Disbursement Journal

As per the bank statement received by Tope, the following checks were presented and paid
by the bank:

Identify checks outstanding as of end of May 2016.

Set II
The cash receipts journal of Malaya Merchandising reflected the following collections for the
month of April 2016:

It is the policy of the company to deposit collection within the following day from the date of
collection.

The bank statement for April 2016 revealed following deposits made:

Instruction: Compute for the deposit in transit or undeposited collection as of end of April
2016.

Set III.
Identify whether the following independent transaction is a book or a bank reconciling. In
addition, determine the amount of the error and state whether the amount will be added or
deducted in the preparation of the bank reconciliation(use adjusted method):
1. Eagle Repairs received P1,500 from Jane. The bookkeeper recorded the amount as P500.
2. Nation Bank collected from the customer of Eagle the sum of P5,000 representing payment
of the said customer to Eagle. No entry was made in the books of Eagle.
3. The bank teller deducted CK 123 for P3,500 from the account of Eagle. The said check
was issued by Egles Company a different depositor of the bank.
4. The bookkeeper of Eagle recorded Check No. 345 in the Cash Disbursement Journal as
P5,205. The correct amount of the check was P5,250.
5. The deposits of Eagle earned interest of P100 for the month. Eagle does not have
knowledge of interest earned until it receives the bank statement.

Set IV
Item 1 The bank statement for August 2014 shows an ending balance of Php3,490.

Item 2 On August 31 the bank statement shows charges of Php35 for the service charge for
maintaining the checking account.

Item 3 On August 28 the bank statement shows a return item of Php100 plus a related bank
fee of Php10. The return item is a customer's check that was returned because of insufficient
funds

Item 4 The bank statement shows a charge of Php80 for check printing on August 20.

Item 5 The bank statement shows that Php8 was added to the checking account on August
31 for interest earned by the company during the month of August.

Item 6 The bank statement shows that a note receivable of Php1,000 was collected by the
bank on August 29 and was deposited into the company's account. On the same day, the
bank withdrew Php40 from the company's account as a fee for collecting the note receivable.
Item 7 The company's Cash account at the end of August shows a balance of Php967.

Item 8 During the month of August the company wrote checks totaling more than Php50,000.
As of August 31 Php3,021 of the checks written in August had not yet cleared the bank and
Php200 of checks written in June had not yet cleared the bank.

Item 9 The Php1,450 of cash received by the company on August 31 was recorded on the
company's books as of August 31. However, the Php1,450 of cash receipts was deposited at
the bank on the morning of September 1.

Item 10 On August 29 the company's Cash account shows cash sales of Php145. The bank
statement shows the amount deposited was actually Php154. The company reviewed the
transactions and found that Php154 was the correct amount.

Given the above information, discuss each item whether it is a book reconciling or a bank
reconciling item. After the discussion, prepare a bank reconciliation statement.