Financial Accounting (12th Edition) (What's New in Accounting)
12th Edition
ISBN: 9780134725987
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
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Chapter 4, Problem 4.44AP
1.
To determine
To prepare: Bank reconciliation of D Automotive, as at May 31, 2018
2.
To determine
To prepare:
3.
To determine
To explain: The bank accounts and bank reconciliation as internal controls of cash
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Instructions:
Use the below bank account receipts and payments summary to create a
statement of cash flows. Use the direct method and follow the format in your
textbook, chapter 6.
Transaction Description
Date
1/1/20 Cash deposit to start business
1/1/20 Three month's rent
1/1/20 Cash register paid for
1/1/20 Store furniture paid for
1/31/20 Receipts for sales in January 2020
2/7/20 Widgets supplied in January paid for
2/25/20 Cash withdrawn for your own expenses
2/29/20 Receipts for sales in February 2020
3/15/20 Widgets supplied in February paid for
3/16/20 Store utility charges for Jan, Feb, Mar 2020
3/31/20 Receipts for sales March 2020
3/31/20 Balance in bank on March 31st 2020
Receipts
10,000
6,500
9,000
12,000
37,500
Payments
2,400
450
8,500
4,500
3,000
6,000
300
12,350
37,500
4. Describe the nature of a bank reconciliation statement.
5. Identify common reconciling items and describe each of them.
6. Analyze the effects of the identified reconciling items.
Reference: Quarter 1 Module 9 - Fundamentals of Accountancy, Business and Management 2
LEARNING ACTIVITY 9:1
Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank
Statement of Banco de Oro.
Cash Receipts Journal
O.R. Number
0001
0002
Amount
Date
Payor
P 30,000
June 3
Odessa Allera
20,000
5,000
10,000
20
Arnold Navales
0003
Juanita Nambatac
29
30
0004
Kyle Jamora
Cash Disbursements Journal
Check Number
6581
.6582
6583
6584
Amount
Date
Рayee
Star 5 Grocery
DX Convenience Store
MY Store
Eddie Gomez
P 5,000
7,000
10,000
June 5
15
21
8,000
9,000
25
28
Rodolfo de la Torre
6585
Banco de Oro
Bank Statement
For the month of June, 20A
Date
Withdrawal
Deposit
P 30,000
Balance
June 4
P 30,000
25,000
45,000
15
6581
P 5,000
21
20,000
25
6584
8,000
37,000
28
6585
9,000…
At November 30, Mazaya Company has the following bank information: cash balance per book R 04,600; outstanding
checks R.O 28o; deposits in transit R.O 550, credit memo for interest R.O10, bank service charge RO.20 What is Mazaya's
adjusted cash balance on November 30?
Select one:
a. RO4.590
b. R.O.4.320
CRO4.870
d. RO.4.870
Chapter 4 Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
Ch. 4 - Prob. 1QCCh. 4 - Prob. 2QCCh. 4 - Prob. 3QCCh. 4 - Prob. 4QCCh. 4 - Prob. 5QCCh. 4 - Prob. 6QCCh. 4 - Prob. 7QCCh. 4 - Why does cash require some specific internal...Ch. 4 - Prob. 9QCCh. 4 - Prob. 10QC
Ch. 4 - Prob. 11QCCh. 4 - Prob. 12QCCh. 4 - Prob. 4.1ECCh. 4 - Prob. 4.1SCh. 4 - Prob. 4.2SCh. 4 - (Learning Objective 2: Describe objectives and...Ch. 4 - Prob. 4.4SCh. 4 - (Learning Objective 2: Explain the objectives and...Ch. 4 - (Learning Objective 3: Evalue internal controls...Ch. 4 - Prob. 4.7SCh. 4 - Prob. 4.8SCh. 4 - Prob. 4.9SCh. 4 - Prob. 4.10SCh. 4 - Prob. 4.11SCh. 4 - Prob. 4.12SCh. 4 - Prob. 4.13SCh. 4 - Prob. 4.14SCh. 4 - Prob. 4.15AECh. 4 - Prob. 4.16AECh. 4 - Prob. 4.17AECh. 4 - Prob. 4.18AECh. 4 - Prob. 4.19AECh. 4 - Prob. 4.20AECh. 4 - Prob. 4.21AECh. 4 - Prob. 4.22BECh. 4 - Prob. 4.23BECh. 4 - Prob. 4.24BECh. 4 - (Learning Objectives 1, 2, 3: Describe fraud and...Ch. 4 - Prob. 4.26BECh. 4 - Prob. 4.27BECh. 4 - Prob. 4.28BECh. 4 - Prob. 4.29QCh. 4 - Prob. 4.30QCh. 4 - Prob. 4.31QCh. 4 - Prob. 4.32QCh. 4 - Prob. 4.33QCh. 4 - Prob. 4.34QCh. 4 - Prob. 4.35QCh. 4 - Prob. 4.36QCh. 4 - Prob. 4.37QCh. 4 - Prob. 4.38QCh. 4 - Prob. 4.39QCh. 4 - Prob. 4.40QCh. 4 - Prob. 4.41APCh. 4 - Prob. 4.42APCh. 4 - Prob. 4.43APCh. 4 - Prob. 4.44APCh. 4 - Prob. 4.45BPCh. 4 - (Learning Objectives 2, 3: Explain the objectives...Ch. 4 - (Learning Objective 3: Evaluate internal controls)...Ch. 4 - Prob. 4.48BPCh. 4 - Prob. 4.49CEPCh. 4 - Prob. 4.50CEPCh. 4 - Prob. 4.51SCCh. 4 - Prob. 4.52DCCh. 4 - Prob. 4.53DCCh. 4 - Prob. 4.54EICCh. 4 - Prob. 1FFCh. 4 - Prob. 1FA
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