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    Q12 - ACTREV2 - Proof of Cash

    Uploaded by

    Kevin James Sedurifa Oledan
    Proof of Cash

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Q12 - ACTREV2 - Proof of Cash

    Uploaded by

    Kevin James Sedurifa Oledan
    31 views2 pages
    Proof of Cash

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    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    Proof of Cash

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    31 views2 pages

    Q12 - ACTREV2 - Proof of Cash

    Uploaded by

    Kevin James Sedurifa Oledan
    Proof of Cash

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    PROBLEM

    Balance per company’s ledger:


    Nov. 30 520,000
    Dec. 31 700,000
    Total debits to cash per company’s books
    (recorded receipts) during December 2,500,000

    Total credits to cash per company’s books


    (recorded disbursements) during December 2,320,000

    Bank Balance
    Nov. 30 547,400
    Dec. 31 668,200

    December credits recorded by Bank


    during December 2,509,400
    December debits recorded by Bank
    during December 2,388,600

    Deposits in Transit
    Nov. 30 160,000
    Dec. 31 225,000

    Oustanding Checks
    Nov. 30 143,000
    Dec. 31 118,000

    Bank Service Charges(recorded by the


    depositor in the month following the month
    of charge)
    November 1,200
    December 800

    Bank credit memo for customer’s note


    collected by bank in November
    (face value 60,000plus interest 600),
    recorded by the company only
    in december. 60,600

    Bank credit memo for proceeds of


    bank loan granted
    by the bank on Dec. 31. 100,000

    Customer’s DAIF check returned by the bank


    (recorded by the company
    in the following month)
    Returned in November 25,000
    Returned in December 14,000

    Bank erroneously recorded disbursements of another company in Self Balancing’s Books corrected by
    bank the following month:
    Nov 15,000
    Dec 30,000

    Bank erroneously recorded receipts of another company in Self Balancing’s Books corrected by bank the
    following month:
    Nov 25,000
    Dec 20,000

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