Problem 1

Current account at Metrobank 2,000,000.00

Payroll account 500,000.00
Traveler’s check 50,000.00
Money order 30,000.00
Petty cash fund (P4,000 in currency) 4,000.00
Treasury bills, due 3/30/19 (purchased 12/29/18) 200,000.00
TOTAL 2,784,000.00

Problem 2
Savings account at PS Bank 1,200,000.00
Checking account at PS Bank 1,800,000.00
Petty cash fund 10,000.00
Currency and coin 15,000.00
TOTAL 3,025,000.00

Problem 3
Current account with Real Bank 900,000.00
Undeposited collection 350,000.00
Supplier's check for goods returned by the Corporation 60,000.00
Unexpended petty cash 5,000.00
Current account with Piggy Bank (P410,000-P300,000) 110,000.00
TOTAL 1,425,000.00

Problem 4
Demand deposit account as adjusted:
Demand deposit account per books 2,000,000.00
Undelivered check 200,000.00
Postdated check issued 100,000.00
Window dressing of collection (400,000.00) 1,900,000.00
Time deposit - 30 days 1,000,000.00
Petty cash fund 10,000.00
Cash and cash equivalents 2,910,000.00

Problem 5
Unadjusted cash balance 844,800.00
Add (deduct) adjustments:
January receipts recorded as December receipts (120,000.00)
Undelivered check 74,400.00
Postdated checks received (62,400.00)
NSF check (12,000.00)
Cash earmarked for personal computers (320,000.00)
Adjusted cash balance 404,800.00

Problem 6
Question No. 1
Unadjusted cash on hand 500,000.00
NSF check (40,000.00)
Post dated check received (20,000.00)
Adjusted cash on hand 440,000.00

Question No. 2
Petty cash fund per total 10,100.00
Employees' vales (IOU) (1,600.00)
Currency in envelope marked "collections for charity" (1,200.00)
Unreplenished petty cash vouchers (1,300.00)
Petty cash fund, as adjusted 6,000.00

Alternative computation:
Currency and coins 2,000.00
Replenishment check 4,000.00
Petty cash fund, as adjusted 6,000.00

Question No. 3
Unadjusted BPI current account 1,000,000.00
Unreleased check 80,000.00
Postdated check delivered 40,000.00
Adjusted BPI current account 1,120,000.00

Question No. 4
Cash on hand (see no. 1) 440,000.00
Petty cash fund (see no. 2) 6,000.00
BPI current account (see no. 3) 1,120,000.00
Security Bank current account (net of overdraft of P80,000) 1,000,000.00
PNB time deposit 500,000.00
Cash and cash equivalents, as adjusted 3,066,000.00

Problem 7
Question No. 1
Balance per bank statement 12/31/2018 547,800.00
Add: Deposits in transit 134,250.00
Bank error-deposit not recorded 6,000.00 140,250.00
Total 688,050.00
Less: Outstanding checks (98,850.00)
Adjusted bank balance, 12/31/2018 589,200.00

Balance per books, 12/31/2018 687,570.00

Add: Book error - Check No. 748 15,000.00
Customer note collected by the bank 46,290.00 61,290.00
Total 748,860.00
Less: Dishonored note 142,650.00
Book error - improperly recorded deposit 1,950.00
NSF check 12,960.00
 Bank service charges 2,100.00 (159,660.00)
Adjusted book balance, 12/31/2018 589,200.00

Question No. 2
Unadjusted balance per books, 12/31/2018 687,570.00
Adjusted book balance, 12/31/2018 589,200.00
Net adjustment to cash - credit 98,370.00

Problem 8
Oct. 1 balance per Books 11,600.00
Oct. deposits 24,600.00
Oct. checks (27,800.00)
Oct. 31 balance 8,400.00
Note Collected (plus 10% interest) 4,400.00
Oct. service charge (20.00)
Oct. 31 correct cash balance 12,780.00

Oct. 1 balance per Bank 10,000.00

Oct. deposits 21,200.00
Oct. checks (29,000.00)
Note Collected (plus 10% interest) 4,400.00
Oct. service charge (20.00)
Oct. 31 balance 6,580.00
Oct. deposit in transit (4,400+(24,600-21,200) 7,800.00
Oct. outstanding checks (2,800+(27,800-29,000) (1,600.00)
Oct. 31 correct cash balance 12,780.00

Problem 9
Checks drawn by company 23,600.00 March outstanding checks
Checks paid by bank 23,010.00 Checks drawn by company
March outstanding checks (300.00) 22,710.00 Checks paid by bank
April outstanding checks 890.00 April outstanding checks

Problem 10
Balance per bank 15,000.00
Deposits in transit 12,000.00
Checks outstanding (11,500.00)
Correct cash balance 15,500.00

Balance per books 14,300.00

Service charge (600.00)
Face value of note 1,500.00
Interest (SQUEEZE) 300.00
Correct cash balance 15,500.00

Problem 11
Payments per bank 13,150.00
Service charge (200.00)
May beg. outstanding checks (900.00)
May end. oustanding checks 1,200.00
Payments per book 13,250.00

Problem 12
Balance per bank 150,000.00
Deposits in transit 20,000.00
Outstanding checks (30,000.00)
Correct cash balance 140,000.00

Correct cash balance 140,000.00

NSF check 5,000.00
Bank service charge 300.00
Note collected by bank (40,000.00)
Balance per books 105,300.00

Problem 13
Balance per books 96,200.00
Bank service charge (1,700.00)
NSF check (1,600.00)
Collection of note 8,600.00
Reconciled balance 101,500.00

Balance per bank 108,900.00

Deposits in transit 8,700.00
Outstanding checks (16,100.00)
Reconciled balance 101,500.00

Problem 14

Question No. 1
Outstanding checks, December 31, 2018 216,800.00
(No. 276, 284, 285, 286, 288, 290, 292, 293, and 294)

Question No. 2 to 5

Beginning
Nov. 30 Receipts Disbursements
Balance per bank statement 96,800.00 842,400.00 131,200.00
Deposits in transit:
November 30 18,000.00 (18,000.00)
December 31 88,800.00
Outstanding checks:
November 30 (16,000.00) (16,000.00)
 December 31 216,800.00
Adjusted bank balance 98,800.00 913,200.00 332,000.00

Beginning
Nov. 30 Receipts Disbursements
Balance per books 58,640.00 881,120.00 304,000.00
Unrecorded CM:
November 40,320.00 (40,320.00)
December 64,000.00
Bank service charge:
November (160.00)
December 4,000.00
DAIF check - Dec. 40,000.00
Book errors:
Understatement of OR No. 419
(P72,400 - 72000) 400.00
Underfooting of CRJ
(P448,800-P440,800) 8,000.00
Overfooting of CDJ
(P288,000-P304,000) (16,000.00)
Adjusted book balance 98,800.00 913,200.00 332,000.00

Problem 15

Question No. 1
Deposits in transit, 11/30/2018 80,000.00
Add: collections in December:
December book receipts 735,600.00
Less receipts not representing
collections in December:
Customer's note collected by
bank in Nov. recorded in Dec. 100,000.00
Uncollected customer's note
treated as receipts 120,000.00 (220,000.00) 515,600.00
Total 595,600.00
Less deposits credited by the bank in
December:
December bank receipts 416,000.00
Less receipts not representing
deposits
Erroneous bank debit, Nov.:
corrected Dec. (40,000.00) 376,000.00
Deposits in transit, 12/31/2018 219,600.00

Question No. 2
Outstanding checks, 11/30/2018 170,000.00
Add checks issued in December:
December book disbursements 407,200.00
Less disbursements not
representing checks issued in
December:
Bank service charge, Nov.;
recorded Dec. 1,200.00
Error recording a check
(should be P3,960, recorded
as P39,600) 35,640.00 (36,840.00) 370,360.00
Total 540,360.00
Less checks paid by the bank in
December:
December bank disbursements 204,000.00
Less disbursements not
representing checks:
Bank service charge, Dec. 1,600.00
NSF check, Dec. 24,000.00 (25,600.00) (178,400.00)
Outstaning checks, 12/31/2018 361,960.00

Questions No. 3 to 6

Beginning
Nov. 30 Receipts Disbursements
Balance per bank statement 306,000.00 416,000.00 204,000.00
Deposits in transit:
November 30 80,000.00 (80,000.00)
December 31 219,600.00
Outstanding checks:
November 30 (170,000.00) (170,000.00)
December 31 361,960.00
Erroneous bank
debit-November 40,000.00 (40,000.00)
Adjusted bank balance 256,000.00 515,600.00 395,960.00

Beginning
Nov. 30 Receipts Disbursements
Balance per books 157,200.00 735,600.00 407,200.00
Customer's note
collected by
bank - November 100,000.00 (100,000.00)
Bank service
charge:
November (1,200.00) (1,200.00)
December 1,600.00
NSF check -
 December 24,000.00
Book errors -
December
Uncollected
customer's
note treated as
receipts (120,000.00)
Error in
recorded a
check (should
be P3,960,
recorded as
P39,600) (35,640.00)
Adjusted book balance 256,000.00 515,600.00 395,960.00
arch outstanding checks 300.00
ecks drawn by company 23,600.00
ecks paid by bank (23,010.00) 590.00
ril outstanding checks 890.00
 Ending
Dec. 30
808,000.00

88,800.00
(216,800.00)
680,000.00

Ending
Dec. 30
635,760.00

64,000.00

(160.00)
(4,000.00)
(40,000.00)

400.00

8,000.00

16,000.00
680,000.00
 Ending
Dec. 30
518,000.00

219,600.00

(361,960.00)

375,640.00

Ending
Dec. 30
485,600.00

(1,600.00)
 (24,000.00)

(120,000.00)

35,640.00
375,640.00