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Computation of Book Balance

The document contains bank reconciliation statements for Sassy Company for June and July 2020 and Bigotry Company and Bedlam Company for August and December 2020 respectively. It provides information on book and bank balances, outstanding checks, deposits in transit and adjusting entries.

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Jenny Pearl Dominguez Calizar
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63 views

Computation of Book Balance

The document contains bank reconciliation statements for Sassy Company for June and July 2020 and Bigotry Company and Bedlam Company for August and December 2020 respectively. It provides information on book and bank balances, outstanding checks, deposits in transit and adjusting entries.

Uploaded by

Jenny Pearl Dominguez Calizar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Sassy Company Computation of book ba

Bank Reconciliation Statement


June 2020

Balance per Book, June 30 1,000,000.00 Book balance, July 31


Credit Memo
Note collected 300,000.00 Computation of bank ba
Debit Memo
NSF check 100,000.00
Service Charge 4,000.00 - 104,000.00
Adjusted cash balance 1,196,000.00 Bank balance, July 31

Balance per bank, June 30 1,650,000.00 Deposit in transit


Deposit in transit 400,000.00 DIT, beginning
Outstanding Checks - 854,000.00 Deposits made by the co
Adjusted cash balance 1,196,000.00

Sassy Company Total deposits to be ackn


Bank Reconciliation Statement Less: Deposits credited b
July 2020
Balance per Book, July 31 1,400,000.00
Credit Memo DIT, July 31
Proceeds from bank loan 500,000.00
Debit Memo Outstanding Checks
Service Charge - 1,000.00 OC, Beginning
Adjusted cash balance 1,899,000.00 Add: Checks issued by

Balance per bank, July 31 2,650,000.00


Deposit in transit - Total checks to be paid b
Outstanding Checks - Less: Checks paid by the
Adjusted cash balance 2,650,000.00

OC, July 31

Adjusting Entries on Ju
Cash in bank

Bank Service Charge


Computation of book balance:
Balance, June 30 1,000,000
Book debits, July 4,000,000
Book credits -3,600,000
Book balance, July 31 1,400,000

Computation of bank balance:


Balance, June 30 1,000,000
Bank credits, July 3,500,000
Bank debits -2,500,000
Bank balance, July 31 2,000,000

Deposit in transit
DIT, beginning 400,000.00
Deposits made by the company
Book debits 4,000,000.00
Less: June CM - 300,000.00 3,700,000.00
Total deposits to be acknowledge by the bank 4,100,000.00
Less: Deposits credited by the bank
Bank credits 3,500,000.00
Less: July CM - 500,000.00 - 3,000,000.00
DIT, July 31 1,100,000.00

Outstanding Checks
OC, Beginning 854,000.00
Add: Checks issued by the company
Book credits 3,600,000.00
Less: June DM - 104,000.00 3,496,000.00
Total checks to be paid by the bank 4,350,000.00
Less: Checks paid by the bank
Bank Debits 2,500,000.00
Less: July DM - 1,000.00 - 2,499,000.00
OC, July 31 1,851,000.00

Adjusting Entries on July 31:


Cash in bank 500,000
Loans Receivable 500,000

Bank Service Charge 1,000


Cash in Bank 1,000
Bigotry Company
Proof of Cash
For the month of August 2020

BOOK BEG RECEIPTS


Balances 1,200,000.00 4,400,000.00
Note collected by bank
July 200,000.00 - 200,000.00
August 300,000.00
NSF Check
July - 100,000.00
August
Book error
Underrecording of collection 180,000.00
Underrecording of payment
Adjusted cash balance 1,300,000.00 4,680,000.00

BANK BEG RECEIPTS


Balances 800,000.00 5,000,000.00
Deposit in transit
March 600,000.00 - 600,000.00
April 480,000.00
Outstanding checks
March - 100,000.00
April
Bank error
Erroneous bank credit - 200,000.00
Erroneous bank charge
Adjusted cash balance 1,300,000.00 4,680,000.00
any
h
gust 2020

DISBURSEMENTS END
3,600,000.00 2,000,000.00

-
300,000.00

- 100,000.00 -
50,000.00 - 50,000.00

180,000.00
540,000.00 - 540,000.00
4,090,000.00 1,890,000.00

DISBURSEMENTS END
3,940,000.00 1,860,000.00

-
480,000.00

- 100,000.00 -
650,000.00 - 650,000.00

- 200,000.00
- 400,000.00 400,000.00
4,090,000.00 1,890,000.00
Bedlam Company
Proof of Cash
For the month of December 2020

BOOK BEG RECEIPTS


Balances 2,032,000.00 2,568,000.00
Note collected by bank
Nov
Dec
Service charge
Nov - 2,000.00
Dec
Note not yet collected by bank
Nov - 200,000.00 200,000.00
Dec - 300,000.00
Adjusted cash balance 1,830,000.00 2,468,000.00

BANK BEG RECEIPTS


Balances 1,890,000.00 2,090,000.00
Deposit in transit
Nov 80,000.00 - 80,000.00
Dec 498,000.00
Outstanding checks
Nov - 180,000.00
Dec
Erroneous bank charge
Nov 40,000.00 - 40,000.00
Dec
Adjusted cash balance 1,830,000.00 2,468,000.00

Adjusting Entries on Dec. 31:


Bank service charge 4,000
Notes Receivable 300,000
Cash in Bank 304,000
pany
sh
ember 2020

DISBURSEMENTS END
1,440,000.00 3,160,000.00

-
-

- 2,000.00 -
4,000.00 - 4,000.00

-
- 300,000.00
1,442,000.00 2,856,000.00

DISBURSEMENTS END
1,080,000.00 2,900,000.00

-
498,000.00

- 180,000.00 -
592,000.00 - 592,000.00

-
- 50,000.00 50,000.00
1,442,000.00 2,856,000.00

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