Bank reconciliation

Homework No. 1 (ctto)

The following data are gathered from the records of STUVWXYZ Company for the month of December of
the current year:

Balance per book 5,000,000

Balance per bank 4,450,000
Deposit in transit 3,000,000
Outstanding check 850,000
Bank service charge for the month of December 50,000
Customer’s check retuned by bank mar
ked “NSF” 500,000
Customer’s note collected by bank
Face ₱2,000,000; Interest, ₱200,000
Collected fee ₱50,000 2,150,000

Required:
1. Prepare a bank reconciliation on December 31
2. Prepare adjustments to correct the cash balance per book.

Homework No. 2 (ctto)

In reconciling the cash balance on October 31, 2020 with that shown in the bank statement the following
facts are gathered from the records of The STUVWXYZ Company.
Balance per bank statement 4,000,000
Balance per cash book 2,700,000
Outstanding checks 600,000
Deposit in transit 475,000
Service charge 10,000
Proceed of bank loan, October 1
discounted for 6 months at 12%, not
recorded on company books 940,000
NSF check charged back by bank 50,000
Deposit of ₱100,000 incorrectly recorded by bank as 10,000
Check of TSSUVWYX Company charged by bank
against STUVWXYZ Company account 150,000
Customer’s note collected by bank in flavor of STUVWXYZ Company.
Face 400,000
Interest 40,000
Total 440,000
Collection fee 5,000 435,000
Erroneous debit memo of October 28,
to charge company’s account with
settlement of bank loan 200,000
Deposit of TSSUVWYX Company credited to STUVWXYZ account 300,000
Required:
1. Prepare a bank reconciliation using the adjusted balance approach.
2. Prepare adjusting entries on October 31

Homework No. 3 (ctto)

Presented below is information related to STUVWXYZ Company

Balance per book September 30 800,000

Cash receipts for October 4,100,000
Cash disbursements for October 3,800,000
Outstanding checks as of October 31:
No. 1331 40,000
No. 1332 30,000
No. 1333 60,000
No, 1334 10,000
April debit memos were:
For bank service charge 5,000
For NSF check 25,000
October credit memo for note collected
by bank in the name of SWUTYZX Corp. 60,000
Undeposited collections 270,000
Balance per bank October 31 1,000,000

Required:
1. Prepare a bank reconciliation for October 31
2. Prepare journal entries to adjust the book balance.