The following information relative to cash in bank account were obtained:
A. Total cash receipts during the month of May 2012 was Php202,345.67 of which Php8,652.22 was not deposited to the bank and therefore was not included among the credits made in the bank statement.
B. Total check issued per disbursement book during the month of May 2012 amounted to Php398,765.43 of which Php32,109.00 remained outstanding until the end of the month.
C. Cash in bank per books, 30 April 2012 was Php296,472.51.
D. Statement from the bank showed among others a balance of Php123,456.78 as of 31 May 2012 and collection charges Php52.75 which was not booked until the start of the following month.

How much is the unadjusted book balance in month of May 2012?
How much is the adjusted book balance in month of May 2012?

Sample Solution