Problem 1

Cash on hand per trial balance 372,000.00

NSF check (60,000.00)
Postdated customer's check (30,000.00)
Correct cash on hand 282,000.00

Currency and coins 2,100.00

Check drawn by ABC Corp., payable to
petty cashier 4,600.00
Correct petty cash fund balance 6,700.00

BPI current account per trial balance 950,000.00

Undelivered check 50,000.00
Postdated check 86,000.00
Correct BPI current account balance 1,086,000.00

Cash on hand 282,000.00

Petty cash fund 6,700.00
BPI current account 1,086,000.00
Security Bank current account No. 1 1,280,000.00
Security Bank current account No. 2 (40,000.00)
PNB time deposit 300,000.00
Cash and cash equivalents 2,914,700.00

Problem 2

Deposit in transit per bank recon 175,250.00

Postdated check (50,000.00)
Correct deposit in transit 125,250.00

Outstanding checks per bank recon 246,750.00

Undelivered checks (14,750.00)
Postdated checks (37,210.00)
Correct outstanding checks 194,790.00

Balance per bank statement 350,000.00

Deposits in transit 125,250.00
Outstanding checks (194,790.00)
Error (30,000.00)
Adjusted cash in bank balance 250,460.00

Balance per General Ledger 293,500.00

Note collected by the bank 15,000.00
Error: undelivered checks 14,750.00
Error: postdated checks to supplier 37,210.00
Error: postdated customers's check (50,000.00)
Adjusted balance per General Ledger 310,460.00

Adjusted cash in bank balance 250,460.00

Adjusted balance per General Ledger (310,460.00)
Shortage (60,000.00)

Problem 3 Problem invalidated due to corrections not given

November Receipts Disbursement December

Balance per bank 14,010.00 281,070.00 275,450.00 19,630.00
Bank reconciling items:
Depositin transit:
November 2,740.00 (2,740.00)
December 3,110.00 3,110.00
Outstanding checks
November: (4,260.00) (4,260.00)
December: 3,170.00 (3,170.00)
Error (2,010.00) 2,010.00

Book reconciling items:

(reversal rule)
Credit memo:
November (1,200.00) 1,200.00
December (1,600.00) (1,600.00)
Debit memo:
Bank charges not in books
November 950.00 950.00
December (640.00) 640.00
NSF checks:
NSF check returned on December (800.00) 800.00
NSF check returned in November
and recorded in December 1,050.00 (1,050.00)
NSF check returned and recorded
in December (900.00) (900.00)
Receipt paid out in cash 750.00 750.00
Error in recording customer's check (300.00) (300.00)
Error in disbursements journal 2,925.00 (2,925.00)
Balance per books 13,290.00 279,540.00 274,635.00 18,195.00

November balance per bank 14,010.00

Dec. receipts per bank statement 281,070.00
Dec. disbursements (SQUEEZE) 275,720.00
December balance per bank 19,360.00
Outstanding checks - Dec 31 3,870.00
Less: Certified check (700.00)
Net Outstanding checks - Dec 31 3,170.00