3. If the cash balance shown in a company's accounting

records is more than the correct cash balance and

neither the company nor the bank has made any

errors, there must be

a. Deposits credited by the bank but not yet recorded

by the company

b. Deposits in transit

c. Outstanding checks

d. Bank charges not yet recorded by the company

4. If the cash balance shown in a company's accounting

records is less than the correct cash balance and

neither the company nor the bank has made any

errors, there must be

a. Deposits credited by the bank but not yet recorded

by the company

b. Deposits in transit

c. Outstanding checks

d. Bank charges not yet recorded by the company

5. If the cash balance in a company's bank statement is

less than the correct cash balance and neither the

company nor the bank has made any errors, there

must be

a. Deposits credited by the bank but not yet recorded

by the company

b. Outstanding checks

c. Bank charges not yet recorded by the company

d. Deposits in transit

6. The information below is from the books of the

Seminole Corporation on June 30:

Balance per bank statement P11,164

Receipts recorded but not yet deposited

in the bank

1,340

Bank charges not recorded 16

Note collected by bank and not

recorded on books

1,120

Outstanding checks 1,100

NSF checks - not recorded on books nor

redeposited

160

Assuming no errors were made, compute the cash

balance per books on June 30 before any reconciliation

adjustments.

a. P11,404 c. P10,460

b. P12,348 d. P10,220

7. The cash in bank account of S-mart, Inc. for April

showed an ending balance of P129,298. Deposits in

transit on April 30 was P18,200. Outstanding checks

as of April 30, were P59,435, including a P5,000 check

which the bank had certified on April 27. During the

month of April, the bank charged back NSF checks in

the amount of P3,435 of which P1,835 had been

redeposited by April 20. On April 23, the bank charged

S-Mart's account for a P2,200 items which should have

been charged against K-mart, Inc., the error was not

detected by the bank. During April, the proceeds from

notes collected by the bank for S-Mart, Inc. was

P7,548 and bank charges for this services was P18.

How much is the unadjusted balance per bank on April

30?

a. P95,263 c. P173,663

b. P88,333 d. P169,263

8. The following data pertaining to the cash transactions

and bank account of Mandirigma Company for the

month of May are available to you:

Cash balance, per records, May 31 P17,194

Cash balance, per bank statement, 5/31 31,948

Bank service charge for May 109

Debit memo for the cost of printed checks

delivered by the bank

125

Outstanding checks, May 31 6,728

Deposit of May 30 not recorded by bank

until June 1

4,880

Proceeds of a bank loan of May 30, net of

interest of P300

5,700

Proceeds from a customer's promissory

note, including interest of P100

8,100

Check No. 2772 issued to a supplier

entered in the accounting records at

P2,100 but deducted in the bank

statement at an erroneous amount of

1,200

Stolen check lacking an authorized

signature, deducted from Mandirigma's

account by the bank in error

800

Customer's check returned by the bank

marked NSF; no entry has been made

in the accounting records to record the

returned check

760

What is the correct cash balance at May 31?

a. P29,200 c. P30,000

b. P30,300 d. P30,900

Use the following information for the next four questions.

Shown below is the bank reconciliation for YOUR Company

for the month of May:

Balance per bank, May 31 P75,000

Add: Deposits in transit 12,000

Total 87,000

Less: Outstanding checks P14,000

Bank credit recorded in error 5,000 19,000

Cash balance per books, 5/31 P68,000

The bank statement for the month of June contains the

following data:

Total deposits P55,000

Total charges, including an NSF check of

P4,000 and a service charge of P200

48,000

All outstanding checks on May 31, including the bank

credit, were cleared in the bank in June.

There were outstanding checks of P15,000 and deposits in

transit of P19,000 on June 30.

9. Cash receipts per books in June is

a. P74,000 c. P62,000

b. P43,000 d. P48,000

10. Cash disbursements per books in June is

a. P90,200 c. P44,800

b. P42,800 d. P39,800

11. Cash balance per books as of June 30 is

a. P82,000 c. P86,000

b. P85,200 d. P90,200

12. Cash balance as adjusted as of June 30 is

a. P82,000 c. P86,000

b. P85,200 d. P90,200