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Adjusted Bank Balance Calculation

Ang Po Trading had an ending bank statement balance of P 373,612 on June 30, 2009. During reconciliation, it was noted that the bank had erroneously credited P 2,150, charged back NSF checks of P 2,340 with P 800 redeposited, and collection of P 10,330 was deposited in the following month. Outstanding checks were P 30,205 and notes collected were P 8,150 with charges of P 50. The adjusted bank balance on June 30, 2009 was P 351,587.

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Jollybelleann Marcos
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1K views1 page

Adjusted Bank Balance Calculation

Ang Po Trading had an ending bank statement balance of P 373,612 on June 30, 2009. During reconciliation, it was noted that the bank had erroneously credited P 2,150, charged back NSF checks of P 2,340 with P 800 redeposited, and collection of P 10,330 was deposited in the following month. Outstanding checks were P 30,205 and notes collected were P 8,150 with charges of P 50. The adjusted bank balance on June 30, 2009 was P 351,587.

Uploaded by

Jollybelleann Marcos
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
  • Bank Reconciliation Question

Question #1:

As of June 30, 2009, the bank statement of Ang Po Trading had an


ending balance of P 373,612. The following data were assembled in the
course of reconciling the bank balance:

The bank erroneously credited Ang Po Trading for P 2,150 on June
22.
During the month, the bank charged back NSF checks amounting to
P 2,340 of which P 800 had been redeposited by the 25
th
of June.
Collection for June 30 totaling P 10, 330 was deposited the
following month.
Checks outstanding as of June 30 were P 30,205
Notes collected by the bank for Ang Po Trading were P 8,150 and
the corresponding bank charges were P 50.

What is the adjusted bank balance on June 30, 2009? P 351, 587

Question #1: As of June 30, 2009, the bank statement of Ang Po Trading had an ending balance of P 373,612. The following

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