Proof of Cash

Lazer Company had the following bank reconciliation on June 30:

Balance per bank statement, June 30 3,000,000

Deposit in Transit 400,000
Total 3,400,000
Outstanding Checks -900,000
Balance per book, June 30 2,500,000

The bank statement for the month of July showed the following:

Deposits, including P200,000 note collected for Lazer- P9,000,000

Disbursements, including P140,000 NSF check and P10,000 servce charge- P7,000,000

All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in
transit amounted to P1,000,000 on July 31.

1. What is the adjusted cash in bank on July 31?

A. 2,500,000 B. 5,400,000 C. 2,900,000 D. 5,000,000

2. What is the unadjusted cash balance per book on July 31?

A. 5,400,000 B. 5,350,000 C. 5,550,000 D. 4,500,000

3. What is the amount of cash receipts per book in July?

A. 9,400,000 B. 9,600,000 C. 8,600,000 D. 9,800,000

4. What is the amount of cash disbursements per book in July?

A. 6,550,000 B. 6,700,000 C. 7,300,000 D. 6,850,000

Chris Company presented the following bank reconciliation for the month of November:

Balance per bank statement, November 30 3,600,000

Add: Deposit in Transit 800,000
Total 4,400,000

Less: Outstanding Checks 1,200,000

Bank erroneously credited 200,000 1,400,000
Balance per book, November 30 3,000,000

Data per bank statement for the month of December follow:

December deposits, including note collected of P1,000,000 for Chris 5,500,000
December disbursements, including NSF customer check P350,000 and service charge P50,000 4,400,000

All items that were outstanding on November 30 cleared through the bank in December, including the bank credit.

In addition, checks amounting to P500,000 were outstanding and deposits of P700,000 were in transit on December 31.

1. What is the adjusted cash in bank on December 31?

A. 4,700,000 B. 4,900,000 C. 4,500,000 D. 3,200,000

2. What is the cash balance per ledger on December 31?

A. 4,100,000 B. 4,900,000 C. 4,700,000 D. 4,300,000

3. What is the amount of cash receipts per book in December?

A. 5,400,000 B. 4,400,000 C. 5,500,000 D. 6,400,000
4. What is the amount of cash disbursement per book in December?
A. 3,700,000 B. 3,300,000 C. 3,100,000 D. 3,500,000

Lira Company prepared the following bank reconciliation on June 30:

Balance per bank statement 9,800,000

Add: Deposit in Transit 400,000
Less: Outstanding Checks 1,400,000
Balance per book, November 30 8,800,000

There were total deposits of P6,500,000 and charges for disbursements of P9,000,000 forJuly per bank statement. All
reconciliation items on June 30 were cleared in the bank on July 31.

Checks outstanding amounted to P1,000,000 and deposits in transit totaled P1,200,000 on July 31.

1. What is the amount of cash disbursements per book in July?

A. 8,600,000 B. 7,600,000 C. 9,400,000 D. 8,400,000

2. What is the adjusted cash in bank on July 31?

A. 7,300,000 B. 6,300,000 D. 7,500,000 D. 6,500,000

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