Reference no: EM133076965
Problem - Present the Reconciliation per Bank Statement - The accounting records of BEE Company show the summary data of its cash receipts and payments for November 2019. Its November Cash Balance has P42,130.00; its Total Cash Receipts is P40,000.00, Total Checks issued is P25,000.00. The company received its Bank Statement indicating a balance of P82,000.00. The following reconciling items were discovered.
Item No. 1 - A deposit of cash receipts P3,000.00 of November 30 is too late to include in the bank statement.
Item No. 2 - Outstanding checks were: No. 1234-P2,652.00; No. 1235-P6,557.00; No. 1236-P6,095.00.
Item No. 3 - The bank collected a note left for collection amounting to P20,000.00 plus a service charge of P600.00.
Item No. 4-Check No. 1237-P P690.00 was incorrectly charged by the bank as P960.00.
Item No. 5-Check No. 1238-P cleared by the bank with P4,200.00 has been recorded in the company's book as P2,400.00. This was for the payment of the creditor's account.
Item No. 6-The customer returned the check for NSF, P7,800.00.
Item No. 7-The bank service charges for the month are P1,864.00.