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PROBLEM 1) The following data pertains to Betlog Company: A

Accounting

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PROBLEM 1) The following data pertains to Betlog Company:
A. The bank statement reveals a balance of Php 7,200.
B. The bank statement indicates service charges of Php 80.
C. Outstanding checks on March 31, 2015, amount to Php 21,000.
D. Deposit in transit on March 31, 2015 amount to Php 31,400.
E. The bookkeeper mistakenly recorded a Php 1,200 check disbursement payable to a
vendor as Php 120.
F. The bank mistakenly recorded a deposit of Php 9,000 as Php 900.
REQUIRED:
1.) Using the above data, compute the book balance of Betlog Company before the
preparation of the bank reconciliation as of March 31, 2015
2.) Journalize adjusting entries related to the above transactions.

PROBLEM #2. Prepare journal entries to record the following selected transactions:
A. Established a petty cash fund and a cash change fund in the amounts of Php 4,000 and
Php 2,000 respectively.
B. Cash sales for the day amounted to Php 22,578 according to the cash register tapes.
Cash on hand amounted to Php 24,568. Prepared a deposit slip for Php 22,568.
C. The amount of cash in the petty cash fund is now Php 367. Replenished the petty cash
fund based on the following summary of petty cash vouchers: transportation fare, Php 744;
office supplies, Php 2,086; and miscellaneous, Php 795.
D. The amount of the petty cash fund was increased to Php 5,000.