Balance per book 65,000

Add: Notes collected 30,000

Less: Service Charge (2,000)

Adjusted book balance 93,000

Balance per bank 108,000

Add: Deposit in transit 80,000

Less: Outstanding checks

Check no. 102 15,000
Check no.105 30,000
Check no. 107 50,00
95,000

Adjusted bank balance 93,000

R2:

Adjusting entries

Cash in bank 30k

Notes Receivable 30k

Bank Service Charge 2k

Cash in bank 2k

Problem 2-2
Balance per book 110k
Add: Notes receivable 45k

Less: NSF Check 10k’

Bank Service charge 5k
Book errors (52K-25k) 27K

Adjusted book Balance 113K

Balance per Bank 135k

Add: DIT 60k
Bank error 8k

Less: Outstanding Checks:

No. 770 20k
No. 775 30k
No. 777 40K

Adjusted Bank balance 113k

R2
Cash in bank 45k
Bank service charge 5k
Notes receivable 50k

Bank service charge 5k

Accounts receivable 10k
Accounts payable 27k
Cash in bank 42k

Problem 2-3
 Balance per book 2,840,000

Add: Note collected 270,000

Less: Service charge 5,000

Adjusted book balance 3,105,000

Balance per bank 3,265,000

Add: Deposit in transit 450,000
Less: Outstanding checks
No. 116 60,000
122 180,000
124 120,000
125 250,000 610,000
Adjusted bank balance 3,105,000

Adjusting entries

a) Cash in bank 270

Bank service charge 10,000
Note Receivable 250,000
Interest Income
30,000

b) Bank Service charge 5,000

Cash in Bank
5,000

Problem 2-4

Book balance 1,405,000

Add: Collection of note 2,500,000
Interest on note 150,000
Book error on check no. 175 45,000 2,695,000
Total 4,100,000
Less: Bank service charge 5,000
Payment for light and water 245,000
NSF check 220,000 470,000
Adjusted book balance 3,630,000

Bank balance 5,630,000

Add: Deposit in transit 750,000
Total 6,380,000
Less: Bank error 1,100,000
Outstanding checks 1,650,000 2,750,000
Adjusted bank balance 3,630,000

Adjusting entries

a) Cash in bank 2,695,000

Note Receivable 2,500,000
Interest Income 150,000
Accounts payable 45,000

b) Bank Service charge 5,000

Light and water 245,000
Accounts receivable 220,000
Cash in Bank 470,000

Problem 2-5
Balance per book – April 30 1,100,000
Add: Credit memo for note collected 60,000
Outstanding checks :
NO.1331 40,000
NO.1332 30,000
NO.1334 60,000
No.1335 10,000 140,000
TOTAL 1,300,000

Less: Bank Service Charge 5,000

 NSF Check 25,000
Undeposited collections 270,000 (300,000)
Adjusted balance per bank-April 30 1,000,000

Adjusting entries

a) Cash in Bank 60,000

Note Receivable 60,000

b) Bank Service charge 5,000

Accounts Receivable 25,000
Cash in Bank 30,000

Problem 2-6

Balance per bank statement 4,000,000

400,00
Balance per cash book 2,700,000 0

Outstanding checks 600,000

Deposit in transit

Service charge

Proceeds of bank loan, December 1 discounted for 6 months at 12%, not recorded on
company books
Customer's check charged back by bank for absence of counter signature

Deposit of 100,000 incorrectly recorded by bank as

Check of Rancid Company charged by bank against Rancor Company account

Customer's note collected by bank in favor of Rancor Company.

Face
Interest 40,000
 Total 440,00
0
Less: Collection fee 5,000

Erroneous debit memo of December 28, to charge company's account with settlement of bank loan

Deposit of Rancid Company credited to Rancor account