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Bank Reconciliation Problem The bank statement for Kulot Company shows a balance per bank of P15,907.45 on April 30, 2015. On this date, the balance
Bank Reconciliation Problem The bank statement for Kulot Company shows a balance per bank of P15,907.45 on April 30, 2015. On this date, the balance of cash per book is P1 1,589.45. Additional information is provided below: Deposits in transit: April 30 deposit (received by the bank on May 1) P2,201.40 14 Outstanding checks: No. 453-P3,000.00 No. 457- P1,401.30 No. 460- P1,502.70 Errors: Juan wrote the check no. 443 for P1,226.00, and the bank correctly paid that amount. However, he recorded the check as P1,262.00. Bank memoranda: Debit- NSF check from Pedro P425.60. Debit- Charge for printing company checks P30.00 Credit - Collection of a note receivable for P1,000 plus interest earned of P50, less bank collection fee of P15.00. Required: Prepare a bank reconciliation statement using the adjusted method. Write your answer on a separate sheet of paper
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