Financial Accounting - Exercises Proof of Cash: Date Debit Credit Balance
Financial Accounting - Exercises Proof of Cash: Date Debit Credit Balance
Financial Accounting - Exercises Proof of Cash: Date Debit Credit Balance
Proof of Cash
The cash account of History’s Strongest Disciple – Kenichi Co. shows the following activities:
Date Debit Credit Balance
Nov. 30 Balance 345,000
Dec. 2 November bank charges 150 344,850
4 November bank credit for
30,000 374,850
notes receivable collected
15 NSF check 3,900 370,950
20 Loan proceeds 145,500 516,450
21 December bank charges 180 516,270
31 Cash receipts book 2,121,900 2,638,170
31 Cash disbursements book 1,224,000 1,414,170
CASH BOOKS
RECEIPTS PAYMENTS
BANK STATEMENT
1 FINANCIAL ACCOUNTING 1 – PROOF OF CASH | M. D. CALAGUIAN, CPA, MBA
Date Check Charges Credits
Dec. 1 792 7,500 25,500
2 802 9,000 33,000
3 - - 63,900
4 804 9,000 60,000
5 EC 243,000 243,000
8 805 36,000 285,000
9 CM 16 - 36,000
10 799 21,150 462,000
11 DM 57 3,900 231,000
12 808 90,000 63,000
15 803 3,000 -
16 809 183,000 255,000
17 DM 61 180 24,000
18 813 60,000 57,000
19 CM 20 - 145,500
22 815 18,000 -
23 816 108,000 141,000
23 811 24,000 -
23 801 6,000 -
26 814 66,000 96,000
28 818 150,000 222,000
28 DM 112 360 -
29 821 9,000 15,000
29 CM 36 - 36,000
29 820 12,000 -
Totals P1,059,090 P2,493,900
Additional information:
1. DMs 61 and 112 are for service charges.
2. EC is error corrected.
3. DM 57 is for an NSF check.
4. CM 20 is for loan proceeds, net of P450 interest charges for 90 days.
5. CM 16 is for the correction of an erroneous November bank charge.
6. CM 36 is for customers’ notes collected by bank in December.
7. Bank balance on December 31 is P1,776,810.