The accountant of Jonathan Manufacturing Company was tasked to perform monthly bank reconciliation. She downloaded the company's April 30 bank statement that showed a balance of P32,400. She also printed the cash ledger from the company's computerized accounting system. It contains the ending balance of P8,350. She also found the following reconciling items: a. The bank statement showed bank service fee of P800 b. The bank collected P1,500 from a note receivable for Jonathan Manufacturing. Also, a collection fee of P250 was charged. c. Deposits in transit, P51,000. d. Checks outstanding on May 31, P79,100. e. The accountant found a check issued to Rhys Corp. for P4,50 that cleared the bank but was not in the cash ledger. Required: Prepare a Bank Reconciliation Statement
The accountant of Jonathan Manufacturing Company was tasked to perform monthly bank reconciliation. She downloaded the company's April 30 bank statement that showed a balance of P32,400. She also printed the cash ledger from the company's computerized accounting system. It contains the ending balance of P8,350. She also found the following reconciling items: a. The bank statement showed bank service fee of P800 b. The bank collected P1,500 from a note receivable for Jonathan Manufacturing. Also, a collection fee of P250 was charged. c. Deposits in transit, P51,000. d. Checks outstanding on May 31, P79,100. e. The accountant found a check issued to Rhys Corp. for P4,50 that cleared the bank but was not in the cash ledger. Required: Prepare a Bank Reconciliation Statement
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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The accountant of Jonathan Manufacturing Company was tasked to perform monthly bank
reconciliation. She downloaded the company's April 30 bank statement that showed a balance of
P32,400. She also printed the cash ledger from the company's computerized accounting system. It
contains the ending balance of P8,350. She also found the following reconciling items:
a. The bank statement showed bank service fee of P800
b. The bank collected P1,500 from a note receivable for Jonathan Manufacturing. Also, a collection
fee of P250 was charged.
c. Deposits in transit, P51,000.
d. Checks outstanding on May 31, P79,100.
e. The accountant found a check issued to Rhys Corp. for P4,50 that cleared the bank but was not
in the cash ledger.
Required: Prepare a Bank Reconciliation Statement
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