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The document contains a series of financial questions related to bank balances, receipts, and disbursements for the months of November and December 2025, as well as a bank reconciliation for May 31, 2025. It includes specific figures for bank balances, receipts, and disbursements, along with a June 2025 bank statement detailing transactions. Additionally, it poses questions regarding total bank and book receipts and disbursements for June 2025.

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7 views2 pages

Poc S1

The document contains a series of financial questions related to bank balances, receipts, and disbursements for the months of November and December 2025, as well as a bank reconciliation for May 31, 2025. It includes specific figures for bank balances, receipts, and disbursements, along with a June 2025 bank statement detailing transactions. Additionally, it poses questions regarding total bank and book receipts and disbursements for June 2025.

Uploaded by

paulaatienzadiaz
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

AP9808-2 CASH – 2

7. What is the bank balance on November 30, 2025?


A. P55,500 B. P69,000 C. P130,500 D. P48,750

8. What is the total bank receipts in December?


A. P360,000 B. P420,000 C. P435,000 D. P450,000

9. What is the total bank disbursements in December?


A. P411,000 B. P463,500 C. P397,500 D. P388,500

10. What is the bank balance on December 31, 2025?


A. P64,500 B. P93,000 C. P99,750 D. P79,500

PROBLEM 3

Shown below is the May 31, 2025, bank reconciliation prepared by your client’s staff.

RECONCILIATION
May 31, 2025
Bank balance P652,000
Add: Deposit in transit 10,000
Total P662,000
Less: Outstanding checks
No. 640 P10,000
652 8,000
653 2,000 20,000
Adjusted bank balance P642,000
Book balance P570,800
Add: Proceeds of note receivable collected in May P70,000
Deposit on May 31 not recorded on books until June 2,000 72,000
Total P642,800
Less: Bank service charge 800
Adjusted book balance P642,000

The June 2025 bank statement is shown below:


Pasig Bank
Period covered: May 31, 2025 – June 30, 2025
Account No.: 0021261

Date Checks Deposits


June 1 8,000 10,000
June 8 2,000
June 11 14,000 20,000
June 13 1,000 DM 1,000
June 16 4,000
June 21 12,000 56,000
June 27 18,000
June 29 1,000 EC 1,000 EC
June 30 200 SV
June 30 3,000 DM

SV - Service Charges DM - Debit Memo


EC - Error Corrected CM - Credit Memo

The paid checks accompanying this bank statement (all clearing in June) are the following:
No. 652 P8,000 No. 654 P14,000 No. 657 P12,000
No. 653 P2,000 No. 655 P4,000 No. 658 P18,000

Page 3 of 4 Pages
AP9808-2 CASH – 2

The check register reveals that the last check issued in June is No. 659 for P5,000 and that check
no. 656 is for P2,600.

Cash received for the period June 22 through June 30 of P70,000 was deposited in the bank on
July 1.

The debit memos on June 13 and June 30 represent customers’ NSF checks returned by the bank.
The June 13 NSF check was immediately redeposited without entry. The June 30 NSF check was
redeposited on July 1 without entry.

Questions

1. What is the total bank receipts in June?


A. P77,000 B. P78,000 C. P87,000 D. P88,000

2. What is the total bank disbursements in June?


A. P58,000 B. P58,200 C. P59,200 D. P63,200

3. What is the total book receipts in June?


A. P88,000 B. P146,000 C. P218,000 D. P220,000

4. What is the total book disbursements in June?


A. P53,000 B. P56,400 C. P57,400 D. P63,200

5. What is the book balance on June 30, 2020?


A. P676,800 B. P732,200 C. P732,400 D. P729,200

---END---

Page 4 of 4 Pages

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