You have been asked by the proprietor of the SANDOVAL CO. to verify the accountability of...

  

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You have been asked by the proprietor of the SANDOVAL CO. to verify the accountability of the cashier-bookkeeper, who was allowed to take a vacation leave a few days ago. A. The bank reconciliation statements prepared by the cashier-bookkeeper are presented below: November 30, 2021 Balance per bank statement Cash on hand Total Outstanding checks: No. 2520 2521 2522 Erroneous bank charge Erroneous bank credit Book balance December 31, 2021 Balance per bank statement Cash on hand Total Outstanding checks: No. 2674 2675 2676 Erroneous bank charge Erroneous bank credit Book balance P 2,800 1,200 900 P26,700 10,600 3,000 P30,000 1.500 31,500 (3,300) 2,700 (800) P30.100 P 135,000 6,300 141,300 (41,300) 3,000 (600) P102.400 B. The Cash in Bank account in the general ledger shows the following debits and credits during December: Cash in Bank Dec. 1 Checks issued P2,000 5 Checks issued 5,200 14. Checks issued 31,000 24 Checks issued 45,000 28 Checks issued 7,600 Dec. 1 Balance P30,100 12 2 Received from customers 4,500 7 Received from customers 5,000 Received from customers 20.000 17 Received from customers.30.000 23 Received from customers 9,000 27 Received from customers 70,000 31 Received from customers 48,500 112.200 Total P198.100 P198.100 31 Balance Total C. The following summarized transactions were taken from the bank statement for the month of December 2021: Balance, December 1, 2021 Total deposits The total deposits per bank statement include: a. Collection of notes receivable b. Correction of November erroneous bank charge c. December 10 deposit of Lava, Inc. credited in error to SANDOVAL Total Total checks The total checks per bank statement include: a. Correction of November erroneous bank credit b. December check of Nile Co. charged in error to SANDOVAL Total P5,000 2,700 600 P7.600 4. What is the total cash shortage as of December 31, 2021? 5. What is the adjusted cash balance on December 31, 2021? P 800 3,000 p3.500 Questions: 1. What is the adjusted cash balance on November 30, 2021? 2. The amount of unaccounted receipts in December is 3. The amount of unrecorded/unsupported disbursements in December is P20,350 P190,000 D. Cash on hand per count in the morning of January 2, 2022, amounted to P6,300. E. Before leaving his company for a one-week vacation, the proprietor had left several signed blank checks that the cashier-bookkeeper had cashed for his personal use. P74,300 You have been asked by the proprietor of the SANDOVAL CO. to verify the accountability of the cashier-bookkeeper, who was allowed to take a vacation leave a few days ago. A. The bank reconciliation statements prepared by the cashier-bookkeeper are presented below: November 30, 2021 Balance per bank statement Cash on hand Total Outstanding checks: No. 2520 2521 2522 Erroneous bank charge Erroneous bank credit Book balance December 31, 2021 Balance per bank statement Cash on hand Total Outstanding checks: No. 2674 2675 2676 Erroneous bank charge Erroneous bank credit Book balance P 2,800 1,200 900 P26,700 10,600 3,000 P30,000 1.500 31,500 (3,300) 2,700 (800) P30.100 P 135,000 6,300 141,300 (41,300) 3,000 (600) P102.400 B. The Cash in Bank account in the general ledger shows the following debits and credits during December: Cash in Bank Dec. 1 Checks issued P2,000 5 Checks issued 5,200 14. Checks issued 31,000 24 Checks issued 45,000 28 Checks issued 7,600 Dec. 1 Balance P30,100 12 2 Received from customers 4,500 7 Received from customers 5,000 Received from customers 20.000 17 Received from customers.30.000 23 Received from customers 9,000 27 Received from customers 70,000 31 Received from customers 48,500 112.200 Total P198.100 P198.100 31 Balance Total C. The following summarized transactions were taken from the bank statement for the month of December 2021: Balance, December 1, 2021 Total deposits The total deposits per bank statement include: a. Collection of notes receivable b. Correction of November erroneous bank charge c. December 10 deposit of Lava, Inc. credited in error to SANDOVAL Total Total checks The total checks per bank statement include: a. Correction of November erroneous bank credit b. December check of Nile Co. charged in error to SANDOVAL Total P5,000 2,700 600 P7.600 4. What is the total cash shortage as of December 31, 2021? 5. What is the adjusted cash balance on December 31, 2021? P 800 3,000 p3.500 Questions: 1. What is the adjusted cash balance on November 30, 2021? 2. The amount of unaccounted receipts in December is 3. The amount of unrecorded/unsupported disbursements in December is P20,350 P190,000 D. Cash on hand per count in the morning of January 2, 2022, amounted to P6,300. E. Before leaving his company for a one-week vacation, the proprietor had left several signed blank checks that the cashier-bookkeeper had cashed for his personal use. P74,300

Answer rating: 100% (QA)

Lets address each question one by one 1 What is the adjusted cash balance on November 30 2021 To determine the adjusted cash balance on November 30 2021 we will use the information from the bank recon... View the full answer