Question: Please help me answer this. Please. Question 1: The adjusted deposit in transit as at December 31, 2020 is Question 2: The adjusted outstanding checks

Please help me answer this. Please.

Please help me answer this. Please. Question 1: The adjusted deposit in

Question 1: The adjusted deposit in transit as at December 31, 2020 is

Question 2: The adjusted outstanding checks as at December 31, 2020 is

Question 3: The adjusted cash to be presented in the statement of financial position at December 31, 2020 is

Question 4: The cash shortage as of December 31, 2020 is

You are conducting an audit of the Swerte Company for the year ended December 31, 2020. The internal control procedures surrounding cash transactions were not adequate. The bookkeeper-cashier handles cash receipts, maintains accounting records, and prepares the monthly bank reconciliations. The bookkeeper-cashier prepared the following reconciliation at the end of the year: 350,000 175,250 15,000 190,250 Balance per statement Add: Deposit in transit Note collected by bank Total Less: Outstanding checks Balance per ledger 540,250 246,750 293,500 In the process of your audit, you gathered the following: At December 31, 2020, the bank statement and general ledger showed balances of P350,000 and P293,500, respectively. The cut-off bank statement showed a bank charge on January 2, 2021 for P30,000 representing correction of an erroneous bank credit Included in the list of outstanding checks were the following: - A check payable to a supplier, dated December 29, 2020, in the amount of P14,750, released on January 5, 2021. - A check representing advance payment to a supplier in the amount of P37,210, the date of which is January 4, 2021, and released in December, 2020. On December 31, 2020, the company received and recorded customers' postdated check amounting to P50,000

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