Problem 1 - MAGO Company

Petty Cash Fund (25,000 - 2,500 - 2,500)

Cash on Hand (250,000 - 50,000)
RCBC Savings
RCBC Current (1,500,000 - 50,000)
BOC Payroll Account
CITI Current (-100,000 +150,000)
Time Deposit - Due in Feb 2020
Treasury Bill
Sinking Fund for BP
Cash and Cash Equivalents - Dec 31, 2019

Problem 2 - KOBE Company

Balances
Per Book
a. Balances, Aug 31 48,350.00
Add/(Deduct):
Bank Service Charges Item 2 (1,750.00)
NSF Check with bank fee Item 3 (5,500.00)
Check Printing Item 4 (4,000.00)
Interest earned Item 5 400.00
Note collected by bank Item 6 48,000.00
Outstanding checks Item 8
Depsit in Transit Item 9
Book Error - Understatement of Receipts Item 10 450.00
Adjusted Balance 85,950.00

b. Adjusting Entries:
1 Bank Service Charge 1,750.00
Cash in Bank

2 Accounts Receivable 5,000.00

Bank service charge 500.00
Cash in Bank

3 Supplies Expense 4,000.00

Cash in Bank

4 Cash in Bank 400.00

Taxes 100.00
Interest Income

5 Cash in Bank 48,000.00

Bank Service Charge 2,000.00
 Note Receivable

6 Cash in Bank 450.00

Sales

Problem 3 - Vaness Company

Balances
1) Nov-30 Receipts
Book Balances 16,250.00 150,000.00
Add/(Deduct):
Bank Service Charge
Nov (1,500.00)
Dec
Book Error - Underfooting of receipts 2,500.00

Adjusted Balances 14,750.00 152,500.00

Balances
Nov-30 Receipts
Bank Balances 18,500.00 145,000.00
Add/(Deduct):
Deposit in Transit
Nov. 12,500.00 (12,500.00)
Dec. 20,000.00
Outstanding Checks
Nov. (16,250.00)
Dec.
Bank Error - check of other co.
Adjusted Balances 14,750.00 152,500.00

2) Adjusting entries:
Bank Service Charge 2,250.00
Cash in Bank 2,250.00

Cash in Bank 2,500.00

Accounts Receivable 2,500.00
 20,000.00
200,000.00
500,000.00
1,450,000.00
500,000.00
50,000.00
1,000,000.00
1,500,000.00
750,000.00
5,970,000.00

Balances
Per Bank
174,500.00

(161,050.00)
72,500.00

85,950.00

1,750.00

5,500.00

4,000.00

500.00
 50,000.00

450.00

Balances
Disbursements Dec-31
128,750.00 37,500.00 BSC per Bank Statement 3,250.00
BSC recorded for Dec (2,500 - 1,500) - 1,000.00
BSC December 2,250.00
(1,500.00)
2,250.00 (2,250.00) Adjusted Bank Debits 129500
2,500.00 BSC Dec -2250
BSC Nov 1500
129,500.00 37,750.00 Unadjusted Book Credits 128,750.00

Balances
Disbursements Dec-31
137,000.00 26,500.00 Checks paid by bank 130,000.00
BSC for December 3,250.00
Bank error - check of other company 3,750.00
Bank Debits - December 137,000.00
20,000.00
Deposit in Transit, beg. 12,500.00
(16,250.00) Actual company collections 152,500.00
12,500.00 (12,500.00) Deposits credited by bank - 145,000.00
(3,750.00) 3,750.00 Depostis in Transit, end. 20,000.00
129,500.00 37,750.00