Problem 4. Your audit senior instructed you to prepare a four column proof of cash receipts and disbursements for the month of December, 2020. The bank reconciliation prepared by Can't Stop Me Company at November 30 is reproduced below: Unadjusted bank balance P96,800 Unadjusted book balance P58,640 Add: deposit in transit 18,000 Add: CM-Note collected 40,320 Total 114,800 Total 98,960 Less outstanding less: DM bank charges 160 Checks: No. 276 P2,400 282 7,200 284 4,800 285 1,600 16,000 Adjusted balance P98.800 Adjusted balance P98,800 This is your personal copy. Do not upload/share to any unauthorized sites/groups without your teacher's permission. Thank you. The December bank statement, which has a beginning balance of P96,800, is reproduced below: Robinsons Bank Account Name: Can't Stop Me Company Date Debits Credits December 01 P18,000 December 02 P7,200 40,000 December 04 24,000 December 06 48,000 December 08 400,000 CM83 December 10 40,000 DM97 December 11 56,000 December 16 20,000 December 18 64,000 December 21 72,400 December 28 36,000 80,000 December 31 4.000 DM98 64.000 CM84 Totals P131.200 P842.400 DM97- Customers DAIF check CM83- Note collected by the bank DM98- Service Charges CM84- Account collected by the bank The company's cash receipts and cash disbursement journals for the month of December 2020 are provided below: The company's cash in Bank Ledger appears below: Cash Receipts Journal Cash Disbursements Journal Date OR No. Amount Date Check No Amount Dec. 01 415 P40,000 Dec. 01 286 P16,000 05 416 48,000 03 287 24,000 10 417 56,000 10 288 32,000 418 64,000 14 289 20,000 20 419 72,000 20 290 28,000 27 420 80,000 291 36,000 31 421 88,000 26 292 40,000 28 293 44,000 31 294 48,000 Total P440.800 total P304.000 17 23 Total P440.800 total 2304,000 Cash in Bank Balance P58,640 12/31/10 CDJ P304,000 12/01/10 GJ 40,320 12/10/10 GJ(CM83)400,000 12/31/10 CRU 440,800 Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: 10. How much is the outstanding checks as of December 31, 2020? 11. How much is the adjusted book receipts for December, 2020? 12. How much is the adjusted book disbursements for December, 2020? 13. How much is the adjusted cash balance as of December 31, 2020? 14. How much is the cash shortage as of December 31, 2020? This is your personal copy. Do not upload/share to any unauthorized sites/groups without your teacher's permission. Thank you