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Poc HL NSF

The document presents financial data for Mukanglupa Company, detailing cash account balances, bank statement balances, deposits in transit, outstanding checks, bank service charges, and NSF checks for June and July. It outlines the necessary computations for adjusted bank balances, cash receipts, and disbursements for the specified periods. The data is structured to facilitate the reconciliation of the company's cash records with bank statements.

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Erika mae DP
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44 views1 page

Poc HL NSF

The document presents financial data for Mukanglupa Company, detailing cash account balances, bank statement balances, deposits in transit, outstanding checks, bank service charges, and NSF checks for June and July. It outlines the necessary computations for adjusted bank balances, cash receipts, and disbursements for the specified periods. The data is structured to facilitate the reconciliation of the company's cash records with bank statements.

Uploaded by

Erika mae DP
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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The accountant for the Mukanglupa Company assembled the following data:

June 30 July 31
Cash account balance 43,322.00 ?
Bank statement balance 107,082.00 137,817.00
Deposit in transit 8,201.00 12,880.00
Outstanding checks 27,718.00 30,112.00
Bank service charge 72.00 60.00
Collection by bank of company’s receivable 71,815.00 80,900.00

You have noted the following data regarding NSF checks for the period of June to August:

a. Returned by the bank in June and recorded by the company in June as disbursement, P5,000.00;
b. Returned by the bank in June and recorded by the company in July as disbursement, P6,000.00;
c. Returned by the bank in July and recorded by the company in July as disbursement, P7,000.00;
d. Returned by the bank in July and recorded by the company in Aug. as disbursement, P8,000.00;
e. Returned by the bank in June and recorded by the company in June as a reduction of cash
receipt, P9,000.00;
f. Returned by the bank in June and recorded by the company in July as a reduction of cash
receipt, P10,000.00;
g. Returned by the bank in July and recorded by the company in July as a reduction of cash receipt
P25,000.00;
h. Returned by the bank in July and recorded by the company in Aug. as a reduction of cash
receipt, P29,000.00;
i. Returned by the bank in June and redeposited in July; entries were made on books in July for
return (recorded as disbursement) and redeposit, P9,500.00;
j. Returned by the bank in June and redeposited in July; entries were made on books in July for
redeposit, P12,500.00;
k. Returned by the bank in July and redeposited immediately; no entries made on books for return
or redeposit, P8,250.00;
l. Returned by the bank in June; entries are yet to be made on the books, P2,000.00.

The bank statements and the company’s cash records show these totals:

Disbursements in July per bank statement P218,373.00

Compute for:

1. Adjusted bank balance as of June 30


2. Adjusted bank balance as of July 31
3. Adjusted cash receipt as of June 30
4. Adjusted cash disbursement as of July 31
5. Unadjusted cash receipt per book for the month of July
6. Unadjusted cash disbursement per book for the month of July
7. Unadjusted cash balance per book as of July 31

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