ABM 2: FUNDAMNETALS OF ACCOUNTING, BUSINESS AND MANAGEMENT 2

UNIVERSITY OF CEBU – BANILAD CAMPUS

SENIOR HIGHSCHOOL DEPARTMENT
Miss Kimberly Nicanor

NAMES: DATE:
SCHEDULE:
FINAL EXAMINATION

STRAND & SECTION:

SUBJECT TOPIC:

Instructions: Based on the problem below, prepare the bank reconciliation using the
three (3) methods. Print this one, then have your answer on a short bond paper with
½ inch margin on each side. Answers must be handwritten. NO ERASURES. Label
your answer, put peso signs, and double-rule your final answer.

The following ledger account is a copy of the bank account in the ledger of Sensible Company.

Cash Receipts Cash Payments

Dec. 1 Balance 100,000 Dec. 1 Check No. 771 20,000
6 Deposit 30,000 4 772 5,000
12 Deposit 40,000 6 773 35,000
24 Deposit 50,000 10 774 15,000
31 Deposit 60,000 14 775 30,000
18 776 25,000
24 777 40,000
 ABM 2: FUNDAMNETALS OF ACCOUNTING, BUSINESS AND MANAGEMENT 2
UNIVERSITY OF CEBU – BANILAD CAMPUS
SENIOR HIGHSCHOOL DEPARTMENT
Miss Kimberly Nicanor

The following bank statement was received from the Second Bank by Sensible Company.

Date Checks Deposit Balance

Dec. 1 Balance 130,000
Check No. 768 10,000
1 771 20,000
4 772 5,000
6 773 35,000 30,000
12 774 15,000 40,000
12 776 52,000
24 1042 8,000 50,000
28 NSF Check 10,000 45,000 CM
28 Service Charge 5,000

1) Sensible Company reconciled its bank balance on November 30 with two checks, No. 768 for
P10,000 and No. 770 for P20,000 outstanding.

2) Check No. 1042 was drawn by Sensitive Company. The bank charged it in error to the account
of Sensible Company.

3) Check No. 776 was correctly drawn for P52,000 in payment of account. The amount P25,000
was entered in the books of original entry.

4) The credit on December 28 represents the proceeds of a P50,000 note, less a collection fee of
P5,000 collected by the bank and credited to the account.

5) The NSF check was received from a customer in payment of account.

Required:

Prepare a bank reconciliation statement on December 31, 2020, using the following method:

A. Bank to Book Method

B. Book to Bank Method
C. Adjusted Balance Method