Jerome Company provided the following information for the month of December 2022: Balance per bank statement Balance per ledger Outstanding checks Deposit in transit Service Charge Proceeds of bank loan Customer's check charged back by the bank due to absence of signature Deposit of P100,000 incorrectly recorded by bank as NSF Check Note collected by the bank Erroneous debit memo of December 28, 4,000,000 2,700,000 600,000 475,000 10,000 940,000 Prepare bank reconciliation statement. 50,000 10,000 150,000 435,000 to charge company's account 200,000 Deposit from supplier made after bank's cutoff 300,000
Jerome Company provided the following information for the month of December 2022: Balance per bank statement Balance per ledger Outstanding checks Deposit in transit Service Charge Proceeds of bank loan Customer's check charged back by the bank due to absence of signature Deposit of P100,000 incorrectly recorded by bank as NSF Check Note collected by the bank Erroneous debit memo of December 28, 4,000,000 2,700,000 600,000 475,000 10,000 940,000 Prepare bank reconciliation statement. 50,000 10,000 150,000 435,000 to charge company's account 200,000 Deposit from supplier made after bank's cutoff 300,000
Chapter8: Budgets And Bank Reconciliations
Section: Chapter Questions
Problem 3.8C
Related questions
Question
100%
SHOW WORKING NOTES
SKIP IF YOU ALREADY DID THIS OR ELSE DOWNVOTE
Transcribed Image Text:Jerome Company provided the following information for the month of December 2022:
Balance per bank statement
Balance per ledger
Outstanding checks
Deposit in transit
Service Charge
Proceeds of bank loan
Customer's check charged back by
the bank due to absence of signature
Deposit of P100,000 incorrectly
recorded by bank as
NSF Check
Note collected by the bank
Erroneous debit memo of December 28,
4,000,000
2,700,000
600,000
475,000
10,000
940,000
Prepare bank reconciliation statement.
50,000
10,000
150,000
435,000
to charge company's account
200,000
Deposit from supplier made after bank's cutoff 300,000
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 with 2 images
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
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning