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    Zodiac Company: Balance Per Book, April 30

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    Rhea Sismo-an
    Here are the adjusting entries: Cash 1,000,000 Cash in bank 1,000,000 Accounts Receivable 9,000,000 Cash in bank 9,000,000 Accounts Payable 600,000 Cash in bank 600,000 Cash 7,000,000 Cash in bank 7,000,000 Balance per bank, June 30 3,000,000 Balance per book, June 30 3,000,000

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    Zodiac Company: Balance Per Book, April 30

    Uploaded by

    Rhea Sismo-an
    2K views5 pages
    Here are the adjusting entries: Cash 1,000,000 Cash in bank 1,000,000 Accounts Receivable 9,000,000 Cash in bank 9,000,000 Accounts Payable 600,000 Cash in bank 600,000 Cash 7,000,000 Cash in bank 7,000,000 Balance per bank, June 30 3,000,000 Balance per book, June 30 3,000,000

    Original Description:

    BSA - 1E

    Original Title

    Zodiac Company

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    Here are the adjusting entries: Cash 1,000,000 Cash in bank 1,000,000 Accounts Receivable 9,000,000 Cash in bank 9,000,000 Accounts Payable 600,000 Cash in bank 600,000 Cash 7,000,000 Cash in bank 7,000,000 Balance per bank, June 30 3,000,000 Balance per book, June 30 3,000,000

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    2K views5 pages

    Zodiac Company: Balance Per Book, April 30

    Uploaded by

    Rhea Sismo-an
    Here are the adjusting entries: Cash 1,000,000 Cash in bank 1,000,000 Accounts Receivable 9,000,000 Cash in bank 9,000,000 Accounts Payable 600,000 Cash in bank 600,000 Cash 7,000,000 Cash in bank 7,000,000 Balance per bank, June 30 3,000,000 Balance per book, June 30 3,000,000

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Problem 2-5 (IAA)

    Zodiac Company Required:


    Bank reconciliation on April 30 following the
    Balance per book, March 31 800,000
    Cash receipts for April 4,100,000 Balance per bank, March 31
    Cash disbursement for April 3,800,000 Add: note collected
    Outstanding checks as of Outstanding checks
    April 30 of which No. 1333
    had been certified:
    No. 1331 40,000 OC
    No. 1332 30,000 OC
    No. 1333 50,000 Total
    No. 1334 60,000 OC less: NSF check
    No. 1335 10,000 OC Bank service
    April debit memos were: Deposit in transit
    For bank service 5,000 cash disbursement
    For NSF check 25,000 Balance per book, April 30
    April credit memo for note
    collected by bank in the name
    of Zodiac Company 60,000
    Undeposited collections 270,000 Deposit in transit
    Balance per bank, April 30 1,000,000
    n April 30 following the book to bank approach and adjusting entries.

    800,000 Adjusting Entries


    60,000
    40,000 Cash in Bank 60,000
    30,000 Note Receivable 60,000
    60,000 Bank service charge 5,000
    10,000 Cash in Bank 5,000
    4,100,000 Cash 270,000
    5,100,000 Cash in Bank 270,000
    25,000 Accounts Payable/ 140,000
    5,000 Checks paid to liability
    270,000 Cash in Bank 140,000
    3,800,000 Cash disbursement 3,800,000
    1,000,000 Cash in Bank 3,800,000
    Problem 2-6 (IAA)
    Radiant Company

    Balance per bank statement, January 31 3,500,000


    Collections on January 31 but undeposited 550,000 DIT
    NSF check received from a customer returned by the
    bank on Feb. 5 with Jan. bank statement 50,000
    Checks outstanding on Jan. 31 650,000
    Bank debit memo for safety deposit box
    rental not recorded by depositor 5,000
    A creditor's check for P30,000 was incorrectly recorded
    in the depositior's book as 300,000
    A customer check for P200,000 was recorded by the
    depositor as 20,000
    The depositor neglected to make an entity in its books
    for a check drawn in payment of an account payable 125,000
    Required:

    Balance per bank, Jan. 31 3,500,000


    Checks outstanding on Jan. 31 650,000
    Total 4,150,000
    DIT 550,000
    DM 5,000
    Error creditor's check 270,000
    Errorcustomer check 180,000
    Cash disbursement/DM 125,000
    Balance per book, Jan. 31 3,380,000

    Adjusting Entries
    Cash 550,000
    Cash in bank 550,000
    Rent Expense 5,000
    Cash in bank 5,000
    Note collected 180,000
    Cash in bank 180,000
    Accounts Payable 125,000
    Cash in bank 125,000
    Problem 3-11 (AICPA)
    Lovable Company

    Balance per bank statement, June 30 3,000,000


    Deposit in transit 400,000
    Total 3,400,000
    Outstanding checks 900,000
    Balance per book, June 30 2,500,000

    Balance per book, June 30 2,500,000


    Book credits 9,000,000
    Outstanding checks 600,000
    Total 12,100,000
    Book debits 7,000,000
    DIT 1,000,000

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