Reference no: EM132638429
Question 1 - As of June 30, the bank statement of Ang Po Trading had an ending balance of P373,612. The following data were assembled in the course of reconciling the bank balance:
The bank erroneously credited Ang Po Trading for P2,150 on June 22.
During the month, the bank charged back NSF checks amounting to P2,340 of which P800 had been redeposited by the 25th of June.
Collection for June 30 totalling P10,330 was deposited the following month.
Checks outstanding as of June 30 were P30,205.
Notes collected by the bank for Ang Po Trading were P8,150 and the corresponding bank charges were P50.
Find the adjusted bank balance on June 30?
P351,587
P359,687
P353,927
P358,147
Question 2 - In connection with your reconstruction engagement, the Bacolod Company presented to you the following information regarding its Cash in Bank account for the month of December, 2014:
a) Balances per bank statements: November 30, P107,800, and December 31, P115,200.
b) Total charges in the bank statement during December were P1,094,850.
c) Receipt on December 15 paid out in cash for expenses, P6,050. Recorded as receipts and disbursements per books.
d) Undeposited receipts were: November 30, P45,300 and December 31, P50,600.
e) Outstanding checks were: November 30, P13,375, and December 31, P9,650, of which a check for P2,500 was certified by the bank on December 26.
f) NSF checks returned, recorded as reduction of cash receipts, were:
Returned by bank on December, recorded also in December, P5,200.
Returned by bank on December but recorded in January, P4,300
g) Collections by bank not recorded by Company were P60,750 in November and P58,200 in December.
h) Bank service charges not entered in company's books were: November 30, P3,750 and December 31, P2,100.
i) A check for P4,750 of Buklod Company was charged to Bacolod Company in error.
j) A check drawn for P4,200 was erroneously entered in the books as P2,400.
How much is the unadjusted cash balance per books as of November 30, 2014?