WebSensible Company reconciled its bank balance on November 30 with two checks, No. 768 for P10,000 and No. 770 for P20,000 outstanding. 2. Check no. 1042 was drawn by Sensitive Company. The bank charged it in error to the account of Sensible Company. 3. Check No. 776 was incorrectly drawn for P52,000 in payment of an account. WebRequirement (1) Alpha Company Bank Reconciliation Statement For the month ended December 31, 20CY Cash balance per ledger 4,990,000 Add: Proceeds of bank loan discounted on December 1 for one year at 14% 516,000 Sub-total 5,506,000 Less: Correction of error arising from understating payment of accounts payable (180,000) …

Bank Reconciliation: Purpose, Example, and Process

WebJul 13, 2012 · Chivalry company newly hired assistant prepared the following bank reconciliation On march 31 2012. Book balance 1405000 Add: march 31 deposit … WebChivalry Company Bank Reconciliation Statement For the month ended March 31, 20XX Book balance Add: Collection of note Interest on note Error in recording chk. No. 175 1,405,000 2,500,000 150,000 45,000 … high altar of arbroath abbey

Bank Reconciliation Discussion exercises KEY - ACCA104 …

WebDec 6, 2024 · Bank reconciliation is the process of matching the bank balances reflected in the cash book of a business with the balances reflected in the bank statement of the business in a given period. Such a process determines the differences between the balances as per the cash book and bank passbook. Web10,000 Proceeds of bank loan, December 1, discounted for 6 months at 12%, not recorded on company books 940,000 Customer’s check charged back by bank for absence of counter signature 50,000 Deposit of P100,000 incorrectly recorded bybank as 10,000 Check of Rancid Company charged by bank against Rancor Company account 150,000 … high altar images