are to prepare the following: 1. A four-column reconciliation that would end at adjusted balances. 2. Adjusting journal entries as of December 31, 2021. Reconciling items: November 30 December 31 Deposits in transit P10,400 ? Outstanding checks 16,014 ? NSF checks 1,052 P1,400 Customers’ notes collected by bank 3,000 8,554 Bank service charges 100 130 Erroneous bank debits 1,
are to prepare the following: 1. A four-column reconciliation that would end at adjusted balances. 2. Adjusting journal entries as of December 31, 2021. Reconciling items: November 30 December 31 Deposits in transit P10,400 ? Outstanding checks 16,014 ? NSF checks 1,052 P1,400 Customers’ notes collected by bank 3,000 8,554 Bank service charges 100 130 Erroneous bank debits 1,
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
In connection with your audit of the Cash account of Bruhilda Co., you obtained the following
information. You are to prepare the following:
1. A four-column reconciliation that would end at adjusted balances.
2.
Reconciling items: November 30 December 31
Deposits in transit P10,400 ?
Outstanding checks 16,014 ?
NSF checks 1,052 P1,400
Customers’ notes collected by bank 3,000 8,554
Bank service charges 100 130
Erroneous bank debits 1,200 1,800
Erroneous bank credits 2,000 6,000
Book balances ? 332,472
Bank balances 261,120 ?
December transactions: Books Bank
Receipts P302,460 P299,902
Disbursements 222,846 220,196
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education