Relating to cash items of Kim Corporation, you established the following data as of December 31,...

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Relating to cash items of Kim Corporation, you established the following data as of December 31, 2007: Bank credit memo Bank debit memo Balance per bank statement Cash on hand and in bank, per books Outstanding checks Cash on hand per count Check of Kin, Inc. erroneously charged by the bank Check # 4523 for P1,950 in payment to a supplier was erroneously recorded as P1,590 2. The following information are made available to you: 1. How much is the cash shortage or overage as of December 31, 2007. Indicate whether shortage or overage. What is the adjusted cash balance as of December 31, 2007? Outstanding checks, end of the month Deposits in transit, end of the month Bank credit memo for note collected Bank service charges NSF check returned by bank (recorded by the depositor in the month following the month when checks were returned) Cash per general ledger, end of the month Cash per bank statement, end of the month Total receipts per books Total charges by bank 4. 5. January 2007 P 65,000 54,500 123,500 3,250 6₁ 25,000 (92,250) 13,500 P15,000 450 82,200 837,000 598,000 72,630 12,365 8,625 2,100 February 2007 P 43,000. 3. What is the adjusted cash balance as of February 28, 2007? What is the adjusted amount of cash receipts during February? 31,200 98,800 4,650 19,000 69,300 156,250 810,850 647,700 What is the adjusted amount of total disbursements during February? What is the adjusted cash balance as of January 31, 2007? Relating to cash items of Kim Corporation, you established the following data as of December 31, 2007: Bank credit memo Bank debit memo Balance per bank statement Cash on hand and in bank, per books Outstanding checks Cash on hand per count Check of Kin, Inc. erroneously charged by the bank Check # 4523 for P1,950 in payment to a supplier was erroneously recorded as P1,590 2. The following information are made available to you: 1. How much is the cash shortage or overage as of December 31, 2007. Indicate whether shortage or overage. What is the adjusted cash balance as of December 31, 2007? Outstanding checks, end of the month Deposits in transit, end of the month Bank credit memo for note collected Bank service charges NSF check returned by bank (recorded by the depositor in the month following the month when checks were returned) Cash per general ledger, end of the month Cash per bank statement, end of the month Total receipts per books Total charges by bank 4. 5. January 2007 P 65,000 54,500 123,500 3,250 6₁ 25,000 (92,250) 13,500 P15,000 450 82,200 837,000 598,000 72,630 12,365 8,625 2,100 February 2007 P 43,000. 3. What is the adjusted cash balance as of February 28, 2007? What is the adjusted amount of cash receipts during February? 31,200 98,800 4,650 19,000 69,300 156,250 810,850 647,700 What is the adjusted amount of total disbursements during February? What is the adjusted cash balance as of January 31, 2007?

Answer rating: 100% (QA)

To calculate the cash shortage or overage as of December 31 2007 we need to compare the balance per ... View the full answer