The following information has been extracted from the cash records of Bagumbayan Ltd and shows fourindependent situations. Assume there were no direct bank debits or credits on the bank statement andthat all outstanding deposits and unpresented checks in one month appeared on the bank statement in thefollowing month.a. The total of outstanding deposits on the 30 April bank reconciliation statement was P1,875. DuringMay, the company made deposits of P40,200 to its bank account but the bank statement showed thatonly P39,840 was deposited during the month.Page 4 of 6b. The total of unpresented checks on the 30 April bank reconciliation statement was P1,440. DuringMay, the total of checks issued was P29,175 but the bank statement showed that only P27,720 inchecks were presented during the month.c.During July, deposits recorded on the bank statement totaled P46,200, but deposits according to thecompany's records were P43,950 and outstanding deposits at 31 July were P4,125.d. In July, cash payments according to Bagumbayan Ltd records were P40,800, checks presented andshown on the bank statement were P43,000 and unpresented checks at 31 July were P3,960.Required:1. In situation a, what were the outstanding deposits at 31 May?2. In situation b, what were the unpresented checks at 31 May?3. In situation c, what were the outstanding deposits at 30 June?4. In situation d, what were the unpresented checks at 30 June?

As per the Honor code of Bartleby we are bound to given the answer of first three sub part only,…

The following information has been extracted from the cash records of Bagumbayan Ltd and shows four independent situations. Assume there were no direct bank debits or credits on the bank statement and that all outstanding deposits and unpresented checks in one month appeared on the bank statement in the following month. a. The total of outstanding deposits on the 30 April bank reconciliation statement was P1,875. During May, the company made deposits of P40,200 to its bank account but the bank statement showed that only P39,840 was deposited during the month.

The following information has been extracted from the cash records of Bagumbayan Ltd and shows four independent situations. Assume there were no direct bank debits or credits on the bank statement and that all outstanding deposits and unpresented checks in one month appeared on the bank statement in the following month. a. The total of outstanding deposits on the 30 April bank reconciliation statement was P1,875. During May, the company made deposits of P40,200 to its bank account but the bank statement showed that only P39,840 was deposited during the month.

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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