Sumcilla Company’s data regarding the cash in bank for the year 2021 are as follows:

                                                                                                                                     Jan. 31            Feb. 28

01 Cash per ledger                                                                                                 200,000              270,000

02 Cash receipts for February                                                                                                           150,000

03 Bank statement balance                                                                                 206,600                276,950

04 Total credits per bank statement in February                                                                          159,000

05 Credit memo for note collected                                                                        9,000                  13,000

06 Bank service charge                                                                                               100                         150

07 Deposit in transit                                                                                              10,000                   11,000

08 Outstanding checks                                                                                           4,200                      1,800

09 Erroneous bank credit                                                                                       6,000                    4,000

10 Erroneous bank charge                                                                                      3,200                     1,400

11 Check of the company issued in January was mutilated and returned by the payee. A replacement check was issued. Both checks were entered in the Check register but no entry was made to cancel the mutilated check P700,

12 The company issued a stop payment order to the bank in February for check issued in February which was not received by the payee, A new check was written and recorded in the Check register in February. The old check was written off by a journal entry also in February, P1,200.

Based on the above data, compute for the following:

1.     The unadjusted bank disbursements in February         (  P78,850  P88,650  P79,900  P80,000) CHOICES

2.     The adjusted cash in bank balance on January 31         (P216,600  P209,000 P209,600 P209,100 ) CHOICES

3.     The adjusted bank receipts in February                            ( P152,800  P154,000  P149,000 P141,000) CHOICES

4.     The adjusted bank disbursements in February               ( P80,000 P79,900 P88,650  P78,850) CHOICES

5.     The adjusted cash in bank balance on February 28       (  P287,950  P283,000 P283,550  P282,850 ) CHOICES

Answer rating: 100% (QA)

Sumcilla Company 1 P88650 2 P209600 3 152800 4 P78850 5 P283550 Ed Wynne Franchise C 196400 Stepbystep explanation Sumcilla Company Jan 31 Receipts Disbursements Feb 28 Balances per bank 206600 159000 ... View the full answer