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Intacc Sample Problem

The document provides a detailed proof of cash statement for November and December, including bank and book balances, adjustments for outstanding checks, deposits in transit, and erroneous charges. It outlines the adjusted balances for both the book and bank using the adjusted balance method, showing receipts and disbursements. The final section compares the book and bank balances to ensure accuracy in cash management.

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jae
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2 views2 pages

Intacc Sample Problem

The document provides a detailed proof of cash statement for November and December, including bank and book balances, adjustments for outstanding checks, deposits in transit, and erroneous charges. It outlines the adjusted balances for both the book and bank using the adjusted balance method, showing receipts and disbursements. The final section compares the book and bank balances to ensure accuracy in cash management.

Uploaded by

jae
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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PROOF OF CASH

NOVEMBER DECEMBER
CIB 2,032,000 3,160,000
Bank Statement Balance 1,890,000 2,900,000
Bank Debits 1,080,000
Bank Credits ?
Book Debits ?
Book Credits 1,440,000
Outstanding Checks 180,000 592,000
Deposit in Transit 80,000 498,000
Checks erroneously charged against the entity 40,000 50,000
Bank Service Charge 2,000 4,000
Note recorded as cash receipts by the entity 200,000 300,000

ADJUSTED BALANCE METHOD


BOOK
NOVEMBER RECEIPTS DISBURSEMENT DECEMBER
Beginning Balance 2,032,000 2,568,000 1,440,000 3,160,000
BSC November (2,000) (2,000)
BSC December 4,000 (4,000)
Collection of Note November (200,000) 200,000
Collection of Note December (300,000) (300,000)
Adjusted Book Balance 1,830,000 2,468,000 1,442,000 2,856,000

BANK
NOVEMBER RECEIPTS DISBURSEMENT DECEMBER
Beginning Balance 1,890,000 2,090,000 1,080,000 2,900,000
DIT November 80,0000 (80,000)
DIT December 498,000 498,000
OC November (180,000) (180,000)
OC December 592,000 (592,000)
Erroneous Bank Charge November 40,000 (40,000)
Erroneous Bank Charge December (50,000) 50,000
Adjusted Bank Balance 1,830,000 2,468,000 1,442,000 2,856,000

BOOK TO BANK
NOVEMBER RECEIPTS DISBURSEMENT DECEMBER
Book Balance 2,032,000 2,568,000 1,440,000 3,160,000
Bank Service Charge November (2,000) (2,000)
Bank service Charge December 4,000 (4,000)
Collection November (200,000) 200,000
Collection December (300,000) (300,000)
DIT November (80,000) 80,000
DIT December (498,000) (498,000)
OC November 180,000 180,000
OC December (592,000) 592,000
Erroneous Bank Charge November (40,000) 40,000
Erroneous Bank Charge December 50,000 (50,000)
Bank Balance 1,890,000 2,090,000 1,080,000 2,900,000

BANK TO BOOK
NOVEMBER RECEIPTS DISBURSEMENT DECEMBER
Bank Balance 1,890,000 2,090,000 1,080,000 2,900,000
Bank Service Charge November 2,000 2,000
Bank service Charge December (4,000) 4,000
Collection November 200,000 (200,000)
Collection December 300,000 300,000
DIT November 80,000 (80,000)
DIT December 498,000 498,000
OC November (180,000) (180,000)
OC December 592,000 (592,000)
Erroneous Bank Charge November 40,000 (40,000)
Erroneous Bank Charge December (50,000) 50,000
Book Balance 2,032,000 2,568,000 1,440,000 3,160,000

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