Cool company prepared the following bank reconciliation for the month of November: Balance per bank statement, November 30 3,600,000 Add: Deposit in transit 800,000 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200,000 1,400,000 Balance per book, November 30 3,000,000 Data per bank statement for the month of December: December deposits, including note receivable 5,500,000 collected of P1,000,000 for Cool Company December disbursement 4,400,000 including NSF check P350,000 and service charge P50,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In additions, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. Cool company prepared the following bank reconciliation for the month of November: Balance per bank statement, November 30 3,600,000 Add: Deposit in transit 800.000 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200.000 1.400.000 Balance per book, November 30 3.000.000 Data per bank statement for the month of December: December deposits, including note receivable 5,500,000 collected of P1,000,000 for Cool Company December disbursement 4,400,000 including NSF check P350,000 and service charge P50,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit In additions, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. 1. Prepare a four-column reconciliation showing adjusted balances 2. . Prepare adjusting entries on December 31 Cool company prepared the following bank reconciliation for the month of November: Balance per bank statement, November 30 3,600,000 Add: Deposit in transit 800,000 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200,000 1,400,000 Balance per book, November 30 3,000,000 Data per bank statement for the month of December: December deposits, including note receivable 5,500,000 collected of P1,000,000 for Cool Company December disbursement 4,400,000 including NSF check P350,000 and service charge P50,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In additions, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. Cool company prepared the following bank reconciliation for the month of November: Balance per bank statement, November 30 3,600,000 Add: Deposit in transit 800.000 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200.000 1.400.000 Balance per book, November 30 3.000.000 Data per bank statement for the month of December: December deposits, including note receivable 5,500,000 collected of P1,000,000 for Cool Company December disbursement 4,400,000 including NSF check P350,000 and service charge P50,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit In additions, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. 1. Prepare a four-column reconciliation showing adjusted balances 2. . Prepare adjusting entries on December 31
