OUTPUT 1 (OP01) – BANK RECONCILIATION

Adjusted Balance Method:

Unadjusted balance per book 1700000

Collection of
Add: notes 360,000
For book records:
Less: Bank charges -15,000
NSF checks -29,000
Unadjusted balance per book ₱ 1,700,000
Book errors:
Add: Collection of notes 360,000
Unrecorded customer receipt 10,000
Less: Bank charges -15,000
Understated collection 495
NSF checks -29,000
Overstated payment 6,300
Book errors:
Unrecorded payment -11,500
Unrecorded customer receipt 10,000
Adjusted cash balance 2021295
Understated collection 495
Overstated payment 6,300
Unrecorded payment -11,500
Adjusted cash balance ₱ 2,021,295

For bank records:

Unadjusted balance per bank ₱ 2,067,700

Add: Deposit in transit 550,000
Less: Outstanding checks -620,000
Bank errors:
Unrecorded deposit 20,000
Understated deposit 8,595
Erroneous bank deposit 18,000
Erroneous bank charge 11,500
Erroneous bank credit -15,000
Erroneous bank debit -19,500
Adjusted cash balance ₱ 2,021,295
Book to Bank Balance Method:

Unadjusted balance per book ₱1,700,000

Add: Collection of Notes 360,000
Less: Bank charges -15,000
NSF checks -29,000
Bank errors
Unrecorded customer receipt 10,000
Understated collection 495
Overstated payment 6,300
Unrecorded payment -11,500
Adjusted cash balance ₱ 2,021,295
Less: Deposit in transit -550,000
Add: Outstanding checks 620,000
Bank errors
Unrecorded
deposit -20,000
Understated deposit -8,595
Erroneous bank deposit -18,000
Erroneous bank charge -11,500
Erroneous bank credit 15,000
Erroneous bank debit 19,500
Unadjusted balance per bank ₱ 2,067,700
Bank to Book Balance Method:

Unadjusted balance per bank ₱2,067,700

Add: Deposit in transit 550,000
Less Outstanding checks -620,000
Bank errors:
Unrecorded
deposit 20,000
Understated payment 8,595
Erroneous bank deposit 18,000
Erroneous bank charge 11,500
Erroneous bank credit -15,000
Erroneous bank debit -19,500
Adjusted cash balance ₱2,021,295
Less: Collection of notes -360,000
Add: Bank charges 15,000
NSF checks 29,000
Book errors:
Unrecorded customer receipt -10,000
Understated collection -495
Overstated payment -6,300
Unrecorded payment 11,500
Unadjusted balance per book ₱1,700,000