SUBJECT: ACCOUNTING

Choose the LETTER of the CORRECT ANSWER.

A. DAIF CHECK

B. P2,011,000

C. P1,975,000

D. P1,350,000

E. P270 DEDUCTION FROM THE BOOK BALANCE

F. P3,600 ADDITION TO THE BOOK BALANCE

G. P1,850,000

H. P2,498,000

I. P2,501,400

J. P2,377,00

1. A company has 1,578,000 balance per bank, 433,000 deposit in transit, 253,000 NSF check. What is the adjusted cash in bank? *

2. A bookkeeper erroneously recorded a deposit of 580 as 850, the error would be shown on the bank reconciliation as? *

3. A company has 1,700,000 balance per bank, 500,000 deposit in transit, 5,000 interest earned, 1,0000 service charge and 350,000 outstanding check, 900,000 NSF check. What is the adjusted cash in bank? *

4. A company has 1,922,000 balance per book, 311,000 deposit in transit, 253,000 outstanding check, 118,000 notes collected from customer and 65,000 NSF check. What is the adjusted cash per book? *

5. A company recorded its check # 1234 in its accounting records amounting to 89,500 as 85,900 while it cleared the bank as 89,500. What adjustment is needed to the cash balance per books? *