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  • Grace Corporation: Cash Balance Per Book (Per General Ledger)

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    anon_806011137
    189 просмотров2 страницы
    Grace Corporation reconciled its bank statement as of December 31, 2011 using the adjusted balance method. The bank balance was $14,267,272 but the book balance was only $4,709,230 due to deposits in transit of $85,113 and outstanding checks of $1,255,655 according to the bank. Additionally, the books recorded credit memos of $8,890,000 and debit memos of $502,500 that required adjustment. After adjusting for all reconciling items, the adjusted bank and book balances were the same at $13,096,730.

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    bank-reconciliation.docx

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    Grace Corporation reconciled its bank statement as of December 31, 2011 using the adjusted balance method. The bank balance was $14,267,272 but the book balance was only $4,709,230 due to deposits in transit of $85,113 and outstanding checks of $1,255,655 according to the bank. Additionally, the books recorded credit memos of $8,890,000 and debit memos of $502,500 that required adjustment. After adjusting for all reconciling items, the adjusted bank and book balances were the same at $13,096,730.

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    189 просмотров2 страницы

    Grace Corporation: Cash Balance Per Book (Per General Ledger)

    Загружено:

    anon_806011137
    Grace Corporation reconciled its bank statement as of December 31, 2011 using the adjusted balance method. The bank balance was $14,267,272 but the book balance was only $4,709,230 due to deposits in transit of $85,113 and outstanding checks of $1,255,655 according to the bank. Additionally, the books recorded credit memos of $8,890,000 and debit memos of $502,500 that required adjustment. After adjusting for all reconciling items, the adjusted bank and book balances were the same at $13,096,730.

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    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
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    из 2

    Grace Corporation

    Bank Reconciliation
    December 31, 2011
    Adjusted Balance Method

    Cash balance per book (per General Ledger)


    Balance P 1, 000, 000
    Cash Disbursements (6, 308, 870)
    Cash Receipts 10, 018, 100
    Amount P 4, 709, 230

    Cash balance per bank statement P 14, 267, 272

    Bank reconciling items:

    Deposits in Transit:
    Total deposits per bank statement P 18, 993, 487
    Less: Undeposited collection on 11/30/2011 (170, 500)
    Credit Memo 12/10/2011 (500,000)
    Credit Memo 12/28/2011 (7, 900, 000)
    Credit Memo 12/29/2011 (490, 000)
    Total P 9, 932, 987
    Cash Receipts per book 10, 018, 100
    Total P 85, 113

    Outstanding Checks:
    Check No. 12349 P 175, 000
    Check No. 12352 14, 000
    Check No. 12361 25, 490
    Check No. 12362 13, 325
    Check No. 12363 85,000
    Check No. 12364 942, 840
    Total ₱ 1, 255, 655
    Book reconciling items:

    Credit Memos:
    12-10-2011 ₱ 500, 000
    12-28-2011 7, 900, 000
    12-29-2011 490, 000
    Total ₱ 8, 890, 000

    Debit Memos:
    Returned Check (12-10-2011) ₱ 500, 000
    Service Charge (12-29-2011) 2, 500
    Total ₱ 502,500

    Adjusted Balance

    Bank Book

    Unadjusted Balance P 14,267,272 P 4,709,230

    Deposit in Transit 85,113

    Credit Memo 8,890,000

    Outstanding Checks (1,255,655)

    Debit Memo (502,500)

    Adjusted Cash Balance P 13,096,730 P 13,096,730

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