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Problem 3-11 Lovable Company p Problem 3-10 (AICPA Adapted) on June 30. Balance per bank state Cool Company prepared the following bank reconciliation Deposit in transit for the month of November: Balance per bank statement, November 30 3,600,000 Outstanding checks 800,000 Total .Add: Deposit in transit Balance per book, June 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200,000 1,400,000 The bank statem Balance per book, November 30 3,000,000 following: Data per bank statement for the month of December: Deposits, including P2 Disbursements, inclu December deposits, including note receivable P10,000 service ch collected of P1,000,000 for Cool Company 5,500,000 December disbursements, including NSF check All reconciling item P350,000 and service charge P50,000 4,400,000 All items that were outstanding on November 30 cleared July. through the bank in December, including the bank credit. The outstanding c transit amounted In addition, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. 1. What is the ad 1. What is the adjusted cash in bank on December 31? a. 5,000,000 4,700,000 b. 5,200,000 4,900,000 C. 5,550,000 4,500,000 d. 5,400,000 d. 3,200,000 2. What is the balance of cash per ledger on December 31? 2. What is the c 4, 100,000 a. 5,400,000 4,900,000 b. 5,350,000 4,700,000 C. 5,550,000 d. 4,300,000 d. 4,500,000 3. What is the amount of cash receipts per book in December? 3. What is the 5,400,000 4,400,000 a. 9,400,00 5,500,000 b. 9,600,00 d. 6,400,000 C. 8,600,00 4. What is the amount of cash disbursements per book in d. 9,800,00 December? 4. What is the 3, 700,000 3,300,000 a. 6,550,00 3, 100,000 100:0019 6,700 0 3,500,000 $ 7,300,0 6,850,0 104ion Problem 3-11 (AICPA Adapted) Lovable Company prepared the following bank reconciliation on June 30: Balance per bank statement, June 30 3,000,000 Deposit in transit 400,000 Total 3,400,000 Outstanding checks ( 900,000) Balance per book, June 30 2,500,000 The bank statement for the month of July showed the following: 00 Deposits, including P200,000 note collected for Lovable 9,000,000 Disbursements, including P140,000 NSF check and 00 P10,000 service charge 7,000,000 red All reconciling items on June 30 cleared through the bank in it. July. and The outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31. 1. What is the adjusted cash in bank on July 31? a. 5,000,000 b. 5,200,000 C . 5,550,000 no dood soo sonsled deng off bever d. 5,400,000 2. What is the cash balance per book on July 31? 31? a. 5,400,000 b. 5,350,000 900,208 C. 5,550,000 d. 4,500,000 3. What is the amount of cash receipts per book in July? ber? a. 9,400,000 b. 9,600,000 C. 8,600,000 d. 9,800,000 4. What is the amount of cash disbursements per book in July? k in a. 6,550,000 b. 6,700,000 C. 7,300,000 d. 6,850,000 105g the Problem 3-9 (PHILCPA Adapted) er 31 Humanizer Company provided the following information: Balance per bank statement - May 31 2,600,000 ,000 Deposits outstanding 300,000 0,000 Checks outstanding 100,000 Correct bank balance - May 31 2,800,000 000 Balance per book - May 31 2,810,000 000 Bank service charge 10,000 Correct book balance - May 31 ,000 2,800,000 June data are as follows: Bank Book 000 Checks recorded paribusdesu 2,200,000 2,500,000 Deposits recorded 1,600,000 1,800,000 Service charges recorded 50,000 Note collected by bank, P500,000 plus interest 550,000 000 NSF check returned with June 30 statement 100,000 Balances 2,400,000 2,100,000 1. What is the amount of outstanding checks on June 30? 300,000 0DC,00S & 400,000 sted 200,000 d. 100,000 000.908 2. What is the amount of deposits in transit on June 30? 300,000 100,000 200,000 500,000 061.008 3. What is the adjusted cash in bank on June 30? 2, 500,000 2,400,000 2, 100,000 d. 2,800,000 103
