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Bank Reconciliation and Adjustments Report

Group 2's members are listed as Anog, Nove Angel; Atay, Princess; Garcia, Arlene Joy; Sinamban, Cristina; and Teves, Glazel. The document provides a reconciliation of bank and book balances for the group, showing adjustments including outstanding checks, deposits, service charges, loan proceeds, errors, and adjusted balances of P699,272.20 for both per bank and per book.

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Arlene Garcia
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57 views2 pages

Bank Reconciliation and Adjustments Report

Group 2's members are listed as Anog, Nove Angel; Atay, Princess; Garcia, Arlene Joy; Sinamban, Cristina; and Teves, Glazel. The document provides a reconciliation of bank and book balances for the group, showing adjustments including outstanding checks, deposits, service charges, loan proceeds, errors, and adjusted balances of P699,272.20 for both per bank and per book.

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

Solution:
Accounts receivable- customers 8,200,000
Allowance for doubtful accounts (200,000)
Accounts receivable- officers 500,000
Total 8,500,000

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