261 Y 262

A5. La Ferretería del Norte, S. A., received the April statement of his checking account at Bancomex, S. A., and
received the April statement of his checking account at Bancomex, S. A., S. A., which was issued in April. A.

The balance at April 30 was $70,242. The accountant compared this balance with the accounting records and
found a difference of $35,592 against the bank balance. Analyzing the causes of this difference, the accountant
determined the following: -

The bank reduced the correct amount of check number 4092 with a value of $30,870 used for the purchase of
office equipment, while it had been recorded in the company at $32,490 by mistake. •

On April 27, the bank returned a bad check from Mr. Julio Aguilar for $52,368. Mr. Aguilar will have to be
asked to reimburse that amount plus a 20% surcharge in accordance with the hardware store's policy. •

There was no record of $29,100 from the collection of a note in favor of the hardware store or interest on the
same note for $1,914. This collection had been notified through a credit note sent by the bank. •

The statement shows two charges: one of $1,110 for bank charges and another of $750 for collection fees,
both amounts include VAT. •

Deposits made on April 30 for $51,120 were not included in the statement because they were checks from
other banks.

- Check number 9987 for $22,080 was charged to the hardware store's checking account. This check does not
correspond to the company's numbering, so it will be necessary to complain to the bank and demand that it
correct the error immediately.

- There are several checks that have not yet been cashed: number 3612 for $20,406; number 4080 for $25,884;
and number 4152 for $12,912.

Requested:

a ) Determine the balance of the bank account in the hardware store's books as of April 30.

b ) Determine the reconciled balance as of April 30.

c ) Submit the necessary adjusting entries to correct the accounting records of the hardware store's bank
account as of April 30.
 261 Y 262

A3. The Image of the Tooth, S. A., presents the

following incorrect bank reconciliation as of
May 31, 2014:

The Image of the Tooth

Bank reconciliation as of May 31, 2014
Balance according to banks (account statement) $117 213

More checks in transit:

$867 350 4 151

867 250 3 273

867 285 9 115

867 343 6 019 22 558

Fewer deposits in transit: 12 121

Reconciled bank balance $127 650

Book balance $13 420

Less: Check returned due to insufficient 7 588 7 804

funds

Bank fees January 26th 216 22 200

Fewer documents charged by the bank

Checks:

Document 96 000
January 10, 2010 2 400

Interests 3 360 99 360

January 18 18 600

Error in registration: 43 500 instead of 45 300 1 800

January 25, 2009 6 600 27 600
Reconciled book balance: Others: –$93 356

Requested:
Internet commissions –60
a) Identify the errors made.
Returned check –4 200
b) Prepare the correct bank reconciliation as of
May 31, 2014. Document charged by the
bank 6 000
A4. The general ledger account of banks of the
Bank fees –1 980
company America, S.. A., as of January 31,
2014 is as follows: Interest on bank account 90

Closing balance as of January $18 420

31

* Includes 714 of interest

 261 Y 262

The statement of account as of January 31, 2014 shows the following:

Banks
Day 3 $23 970 $2 400 Day 5
Day 8 4 800 18 600 Day 14
Day 17 10 800 6 600 Day 21
Day 25 6 600 3 000 Day 27
Day 30 14 400 5 400 Day 29
$24 570

Statement of Account
Banco Nacional del Sur
Opening $23 970
balance
Deposits $4 800
09 January 10 800
17 January 6 600

Requested:
a ) Prepare the bank reconciliation as of January 31, 2014.
b ) Prepare the journal entries necessary to correct the company's bank balance.
 261 Y 262

A5. La Ferretería del Norte, S. A., received the April statement of his checking account at
Bancomex, S. A., and received the April statement of his checking account at Bancomex,
S. A., S. A., which was issued in April. A. The balance at April 30 was $70,242. The
accountant compared this balance with the accounting records and found a difference
of $35,592 against the bank balance.

Analyzing the causes of this difference, the accountant determined the following:
The bank discounted the correct amount of check number 4092 with a value of $30,870 used
for the purchase of office equipment, while it had been recorded in the company at $32,490 in
error.

On April 27, the bank returned a bad check from Mr. Julio Aguilar for $52,368. Mr. Aguilar will
have to be asked to reimburse that amount plus a 20% surcharge in accordance with the
hardware store's policy.

There was no record of $29,100 from the collection of a note in favor of the hardware store or
interest on the same note for $1,914. This collection had been notified through a credit note
sent by the bank.

The statement shows two charges: one of $1,110 for bank charges and another of $750 for
collection fees, both amounts include VAT.

Deposits made on April 30 for $51,120 were not included in the statement because they were
checks from other banks.

Check number 9987 for $22,080 was charged to the hardware store's checking account. This
check does not correspond to the company's numbering, so it will be necessary to complain to
the bank and demand that it correct the error immediately.

There are several checks that have not yet been cashed: number 3612 for $20,406; number
4080 for $25,884; and number 4152 for $12,912.
Requested:
a ) Determine the balance of the bank account in the hardware store's books as of April 30.
b ) Determines the reconciled balance as of April 30.
c ) Submit the necessary adjusting entries to correct the accounting records of the
hardware store's bank account as of April 30.

A6. Breman, a travel agency, established a petty cash balance of $2,000, and after making
several payments, the secretary in charge of managing the fund prepared a statement
to request the replenishment of the fund. The concepts he included in his report are:

Purchases of pencils, staplers and pens

$220

Customer magazines 150

Printer cartridge refills 450

Purchase of newspapers 78

Payment of stationery 355

Advance payment to the driver 330

 261 Y 262

Purchase of paper for the printer 115

Payment for brochure mailing 214