PROBLEM 3
Akari Company’s check register shows the following entries for the month of December:
Date Checks Deposits Balance
12/01/20x1 Beginning Balance P178,600
12/05/20x1 Deposit P130,000 308,600
12/07/20x1 Check No,344 P65,000 241,600
12/11/20x1 Check no.345 28,000 213,600
12/26/20x1 Deposit 98,000 311,600
12/29/20x1 Check No.346 17,200 294,400
The company’s bank reconciliation for November showed an outstanding check for P24,000 ( Check no. 343, written on Nov. 28, 20x1) and a deposit in transit of P11,100 made on November 29, 20x1.
The following data were reflected in the company’s bank statement for December, 20x1:
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