Accounting II - Final Assignment
Accounting II - Final Assignment
Final Assignment
Registration # : ------------------------------------
EDQMS 2/5
1
Question One: (ILOs; 1.2, 2.3, 3.3)
Brown Company's bank statement for September 30 showed a cash balance of $1,350. The
company's Cash account in its general ledger showed a $995 debit balance. The following
information was also available as of September 30.
a. A $125 debit memoranda is included with the bank statement and dealt with a customer's check
for $100 marked NSF and returned to Brown Company by the bank. In addition, the bank charged
the company's a $25 processing fee.
b. The September 30 cash receipts, $1,525, were placed in the bank's night depository after
banking hours on that date and this amount did not appear on the September 30 bank statement.
c. A $15 debit memorandum for checks printed by the September 30 bank was included with the
canceled checks.
d. Outstanding checks amounted to $1,145.
e. A customer's note for $900 was collected by the bank. A collection fee of $25 was deducted by
the bank and the difference was deposited in the account.
Required; Prepare a bank reconciliation as of September 30.
Prepare the general journal entry to record the replenishment of the petty cash fund on December
31.
2
Answers
Question One
Brown’s Company
Bank Reconciliation
September 30
Bank Statement Balance $ 1,350 Book Balance $ 995
Add Add
Deposits in Transits $ 1,525 Customer’s Note $ 900
Deduct Deduct
Outstanding Checks $ 1,445 Debit memo for checks printed $ 15
Collection Fee $ 25
Non-Sufficient Funds $ 125
Question Two
Date Accounts Dr Cr
148.6
Cash (144.35+4.25)
Calculations
Petty Cash Fund = Cash Remaining + Receipts +/- Cash over and
short
Adjusting Entry
Date Account Dr Cr
Date Account Dr Cr
Recovering Entries
Date Account Dr Cr
Date Account Dr Cr
4
Question Four
𝐶𝑜𝑠𝑡−𝑆𝑎𝑙𝑣𝑎𝑔𝑒 𝑉𝑎𝑙𝑢𝑒
Depreciation Per Unit =
𝑇𝑜𝑡𝑎𝑙 𝑈𝑛𝑖𝑡𝑠 𝑜𝑓 𝑃𝑟𝑜𝑑𝑢𝑐𝑡𝑖𝑜𝑛
90000−10000
Depreciation Per Unit = = 0.5 EGP per unit
160000
Depreciation Expense of the Period = Depreciation per Unit x Units Produced in Period
Question Five
1) Date Account Dr Cr
2)
Date Account Dr Cr