Bigger Company provided the following information:
Balance per book, August 31 2,000,000
Book debits for August 4,400,000
Book credits for August 3,600,000
Balance per bank, August 31 1,860,000
Bank credits for August 5,000,000
Bank debits for August 3,940,000
August collection of P200,000 recorded by entity as 20,000
August check in payment of account payable for
P600,000 recorded by entity as 60,000
Deposit of Biggers Company erroneously credited by
bank to Bigger Company 200,000
August check of Biggers Company erroneously
charged by bank to Bigger Company 400,000
NSF:
July 31
August 31
100,000
50,000
Note collected by bank for Bigger Company:
July 31
August 31
200,000
300,000
Deposit in transit:
July 31
August 31
600,000
480,000
Outstanding Checks:
July 31
August 31
100,000
650,000

Prepare a four-column bank reconciliation showing adjusted balances
3. Prepared adjusting entries on August 31

Answer rating: 100% (QA)

Answer Proof of cashBookto Bank For Aug 31Jul Receipts ... View the full answer