1.In preparing its bank reconciliation for the month of April 2020, Henke, Inc. has available the following information:

Balance per bank statement, 4/30/2020

39,140

NSF check returned with 4/30/2020 bank statement

450

Deposits in transit, 4/30/2020

5,000

Outstanding checks, 4/30/2020

5,200

Bank service charges for April

20

What should be the correct balance of cash April 30, 2020?

a.P39,370

b.P38,940

c.P38,490

d.P38,470

2.The cash account shows a balance of P 450,000 before reconciliation. The bank statement does not include a deposit of P 23,000 made on the last day of the month. The bank statement shows a collection by the bank of P 9,400 and a customer's check for P 3,200 was returned because it was NSF. A customer's check for P 4,500 was recorded on the books as P 5,400, and a check written for P 790 was recorded as P 970. The correct balance in the cash account was

a.P455,120

b.P455,480

c.P457,280

d.P478,480

3.Finley, Inc.'s checkbook balance on December 31, 2020 was P 21,200. In addition, Finley held the following items in its safe on December 31.

1)A check for P 450 from Peters, Inc. received December 30, 2020, which was not included in the checkbook balance.

2)An NSF check from Garner Company in the amount of $900 that had been deposited at the bank but was returned for lack of sufficient funds on December 29. The check was to be redeposited on January 3, 2021. The original deposit has been included in the December 31 checkbook balance.

3)Coin and currency on hand amounted to P 1,450.

The proper amount to be reported on Finley's statement of financial position for cash at December 31, 2020 is

a.P21,300

b.P20,400

c.P22,200

d.P21,750

4.Tresh, Inc. had the following bank reconciliation at March 31, 2020:

Balance per bank statement, March 31, 2020

372,000

Add: Deposit in transit

103,000

Total

475,000

Less: Outstanding checks

126,000

Balance per books, March 31, 2020

349,000

Data per bank for the month of April 2020 follow:

Deposit

467,000

Disbursements

497,000

All reconciling items at March 31, 2020 cleared the bank in April. Outstanding checks at April 30, 2020 totaled P 60,000. There were no deposits in transit at April 30, 2020. What is the cash balance per books at April 30, 2020?

a.P282,000

b.P319,000

c.P342,000

d.P385,000

5.Consider the following: Cash in Bank - checking account of P13,500, Cash on hand of P 500, Post-dated checks received totaling P 3,500, and Certificates of deposit totaling P 124,000. How much should be reported as cash in the statement of financial position?

a.P13,500

b.P14,000

c.P17,500

d.P131,500