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Bank Reconciliation Adjustments Summary

The document shows a reconciliation of cash balances between a company's bank records and accounting records as of September 3, 2020. It lists beginning balances, adjustments for outstanding checks, deposits and other transactions that were omitted or recorded incorrectly. After applying all the adjustments, the adjusted cash balance per the bank and per the company's books is P699,272.20.

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Arlene Garcia
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33 views2 pages

Bank Reconciliation Adjustments Summary

The document shows a reconciliation of cash balances between a company's bank records and accounting records as of September 3, 2020. It lists beginning balances, adjustments for outstanding checks, deposits and other transactions that were omitted or recorded incorrectly. After applying all the adjustments, the adjusted cash balance per the bank and per the company's books is P699,272.20.

Uploaded by

Arlene Garcia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

September 3, 2020, 730AM

Group # 2
Members: Anog, Nove Angel
Atay, Princess
Garcia, Arlene Joy
Sinamban, Cristina
Teves, Glazel
Per Bank Per Book
Balances before adjustments P892,346.30 P590,884.60
Outstanding checks (333,788.20)
Receipts of 12/31/16 deposited on 1/2/17 53,172.00
Service charge for December 2016 (225.00)
Proceeds of bank loan omitted from company records 97,000.00
Deposit of 12/23/16 omitted from bank statement 28,924.10
Check of Rome Products charged for lack of (8,737.40)
counter signature
Bank error for a deposit of P31,824 recorded 10.00
as P31,814
Check of Birch Company erroneously charged 26,900.00
by bank
Proceeds of note collected by bank 20,350.00
Erroneous debit by bank for bank loan paid 50,000.00
by company
Bank error for a deposit of P48,071 recorded (100.00)
as P48,171
Deposit of Birch Company erroneously credited
by bank (18,192.00)
Adjusted Cash Balance P699,272.20 P699,272.20

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