Rianne Vernice C. Rivera
2BSA-B
SOLUTIONS
1.
Current account with Real Bank
P900,000
Undeposited collection
350,000
Supplier's check for goods returned by the Corporation
60,000
Unexpended petty cash
5,000
Current account with Piggy Bank
Total
110,000
P1,425,000
Solution for Current account with Piggy Bank
P410,000 - P300,000 = P110,000
2.
Cash Balance
Sales
(P844,800)
120,000
Post-dated Checks
62,400
NSF Check
12,000
Payment of liabilities
(74,400)
Earmarked for the purchase of personal computer
320,000
Cash Balance
P404,800
3.
A.
Unadjusted cash on hand
P500,000
NSF Check
(40,000)
Postdated Check received
(20,000)
Adjusted Cash on Hand
P440,000
B.
Currency and Coins
Replenishment Check
Adjusted Petty Cash Fund
P2,000
4,000
P6,000
C.
Unadjusted BPI current account
P1,000,000
Unreleased Check
80,000
Post-dated check delivered
40,000
Adjusted BPI current account
P1,120,000
D.
Adjusted Cash on Hand
P440,000
Adjusted Petty Cash Fund
6,000
Adjusted BPI current account
1,120,000
Current Security Bank
1,000,000
PNB time deposit
500,000
Adjusted Cash and Cash Equivalents
P3,066,000
4.
A.
Balance per bank statement
P547,800
Add:
Deposits in transit
Bank error
Total
P134,250
6,000
140,250
688,050
Less:
Outstanding checks
Adjusted Book Balance
98,850
P589,200
B.
Unadjusted Balance per books
Adjusted Book Balance
Net adjustment to Cash
P687,570
589,200
P98,370