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AC 52 Unit IV DIY On Proof of Cash

The document provides cash balance and transaction information for a company for September and October. It asks for calculations of cash balances per book and per bank at various dates. It also asks for an adjusting entry to correct the cash balance in the bank as of October 31st.

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MARK JHEN SALANG
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15 views2 pages

AC 52 Unit IV DIY On Proof of Cash

The document provides cash balance and transaction information for a company for September and October. It asks for calculations of cash balances per book and per bank at various dates. It also asks for an adjusting entry to correct the cash balance in the bank as of October 31st.

Uploaded by

MARK JHEN SALANG
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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AC 52 Unit IV DIY on Proof of Cash

How much is the cash in bank balance per book?


P900,000

What is the amount of NSF Check for September?


P60,000

Determine the total debits in the bank statement.


P2,500,000

Determine the cash balance per bank statement on October 31.


P800,000

How much is the adjusted bank balance as of September 30?


P1,960,000

How much is the adjusted cash receipts for the month of October?
P1,330,000

How much is the adjusted cash disbursement for the month of October?
P2,260,000
How much is the adjusted book balance as of October 31?
P1,030,000

Prepare a compound adjusting entry to correct the cash in bank balance on October 31.
Dr. Cash in bank - 130,000; Cr. Accounts receivable - 10,000; Cr. Salaries expense - 120,000
Dr. Cash in bank - 130,000; Cr. Salaries expense - 120,000; Cr. Accounts receivable - 10,000
Dr. Cash - 130,000; Cr. Accounts receivable - 10,000; Cr. Salaries expense - 120,000
Dr. Cash - 130,000; Cr. Salaries expense - 120,000; Cr. Accounts receivable - 10,000

See solution in accompanying excel file

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