Mini exercise #1

ABC Company is preparing its bank reconciliation statement as of December 31, 2021. The following
information were determined:

• Cash balance per cash book amounted to Php 267,000

• Cash balance per bank statement amounted to Php 198,000
• Deposited check to bank amounting to Php 78,400 but was credited by the bank on January 4,
2022
• The following checks were issued to suppliers but were not yet deposited by the suppliers to
their respective banks:
o Check no. 1026 amounting to Php15,500 issued on November 30, 2021
o Check no. 1033 amounting to Php 9,000 issued on December 15, 2021
o Check no. 541 amounting to Php 7,800 issued on January 2, 2021. This check is already
considered stale.
• Check deposited to bank amounting to Php 110,000. Bank informed that the check has no
sufficient funds.
• Bank recorded erroneously credited ABC Company’s account by Php 12,000.
• ABC company recorded a disbursement made to a supplier twice. Disbursement amounted to
Php 31,700.
• A deposit was made by a customer to ABC Company’s bank account amounting to Php 51,500. It
was reflected in the December’s bank statement. ABC Company was not aware by the deposit
made by the customer.
• Service charge per bank statement amounted to Php 300.

Prepare the bank reconciliation statement of ABC Company.

Mini exercise #2

Prepare the bank reconciliation statement for September 30, 2019:

CDE Company, while preparing its September 30, 2019 bank reconciliation statement, determined the
following pieces of information:

• Balance per bank, end is Php 180,000

• DIT for September 30, Php 32,000
• Return of customer’s check for insufficiency of funds (NSF Check), September 30, 2019 Php
60,000
• Balance per books, end is Php 143,000
• OC for September is Php 27,000
• A collection of Php 320,000 was recorded in the books as Php 230,000
• The bank statement shows the correct amount of Php 320,000 and
• The bank erroneously credited a 12,000 deposit of FGH to CDE’s account
Mini exercise #3

Reconstruction of Bank reconciliation statement:

The following pieces of information pertain to WXY Company’s cash on December 31, 2019

• Unadjusted balance per bank statement is Php 8,000

• Credit memo of Php 5,000
• Debit memo of Php 2,000
• Outstanding checks Php 3,000

How much is the unadjusted cash balance per books?

Mini exercise #4

Preparer the bank reconciliation statement for November 31, 2020:

ABC Co. is preparing its November 30 bank reconciliation statement. The following pieces of information
were determined:

• The cash balance per books is Php 500,000 while the cash balance per bank statement is Php
530,000
• The bank collected Php 640,000 from a customer, representing Php 600,000 principal of notes
receivable and Php 40,000 interest;
• NSF check of Php 150,000 returned by the bank to ABC. ABC has not yet recorded the return of
the check;
• Collections amounting to Php 310,000 were deposited by month-end but were not reflected on
the bank statement;
• Checks issued totaling Php 60,000 are not yet presented to the bank for payment;
• A book error caused the debits to be overstated by Php 120,000; and
• A bank error caused the debits to be overstated by Php 90,000

Mini exercise #5

Sugarpop Company, while preparing its October 2018 bank reconciliation statement, determined the
following pieces of information:

• The cash balance per books is Php 560,000;

• The cash balance per bank is Php 640,000;
• Credit memo, Php 40,000;
• Debit memo, Php 30,000
• Deposits in Transit (DIT), Php 150,000
• Outstanding checks (OC), Php 50,000
• Total disbursements per books are overstated by Php 90,000 and
• The bank debits are understated by Php 80,000