there were deposits in transit amounting to P20,000 and outstanding checks totaling P42,500. The bank statement foramong its recelpts. Included on the bank debits were cost of checkbooks amounting to P300 and a P10,000 checkThe bank statement on November 30, 20X6 showed a balance of P76,500. Among the bank credits in November wasmarked "DAIF for P6,000. On December 31, 20X6 the company placed with the bank a customer's promissory noteDecember showed total receipts of P183,900, disbursements of P101,800 and a balance of P121,400. Bank debita customer's note for P25,000 collected for the account of the company which the company recognized in DecemberPROOF OF CASH PROBLEM4. In the process of your examination of the financial statements of the Mehsoy Company for the year ended December31. 20X6, you obtained the following data on its curent accountwhich was charged by the bank in error against Malu-ov Compeny accOunt, Alao in November, you ascertained erthe month of December showed total credit of P104.000 and total charges of P51,000. The company bo debitmemos for December were: No. 14334 for service chargee PA0O and No 14346 on a customer's returned checkwith a face value of P30,000 for collection. The company treated this pote an part of its receipts although the buteckaable to collect on the note only in January, 20X7, A check for Poo wi racorded in the company cash payments booksin December as P9,900.Based on the above data, you are to provide the answers to the following:A How much is the undeposited collections as of December 31, 20X6?B. How much is the outstanding checks as of December 31, 20X6?C. How much is the adjusted cash balance as of November 30, 20X6?D. How much is the adjusted bank receipts for December?E. How much is the adjusted book disbursements for December?F. How much is the adjusted cash balance as of December 31, 20X6?5. The accountant for the Goshen Company assembled the following data:June 30P 15,822107,0828,20127,718July 31P 39,745137,81712,88030,112Cash account balanceBank statement balanceDeposits in transitOutstanding checksBank service charge*Customer's check deposited July 10, returnedby bank on July 16 marked NSF, and redeposited immediately:no entry made on books for return or redepositCollection by bank of company's notes receivable*(Recorded on books in month following charge or collection)72608,25080,90071,815The bank statements and the company's cash records show these totals:Disbursements in July per bank statementCash receipts in July per Goshen's booksChecks written in July per Goshen's booksReceipts in July per bank statementP218,373236,452212,529249,108Determine the correct balance of the following:A June 30 adjusted cash in bank balanceB. July 31 adjusted receiptsC. July 31 adjusted disbursementsD. July 31 adjusted cash in bank balance

* As per bartleby guidelines in case of different question, answer first only and in case of…

5. The accountant for the Goshen Company assembled the following data: June 30 July 31 P 39,745 137,817 12,880 30,112 Cash account balance P 15,822 Bank statement balance 107,082 8,201 27,718 Deposits in transit Outstanding checks Bank service charge Customer's check deposited July 10, retumed by bank on July 16 marked NSF, and redeposited immediateły. no entry made on books for retun or redeposit Collection by bank of company's notes receivable *(Recorded on books in month following charge or collection) 72 60 8,250 80,900 71,815 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement Cash receipts in July per Goshen's books Checks written in July per Goshen's books Receipts in July per bank statement P218,373 236,452 212,529 249,108 Determine the correct balance of the following A June 30 adjusted cash in bank balance B. July 31 adjusted receipts CuN 31 adiusted disbursements

5. The accountant for the Goshen Company assembled the following data: June 30 July 31 P 39,745 137,817 12,880 30,112 Cash account balance P 15,822 Bank statement balance 107,082 8,201 27,718 Deposits in transit Outstanding checks Bank service charge Customer's check deposited July 10, retumed by bank on July 16 marked NSF, and redeposited immediateły. no entry made on books for retun or redeposit Collection by bank of company's notes receivable *(Recorded on books in month following charge or collection) 72 60 8,250 80,900 71,815 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement Cash receipts in July per Goshen's books Checks written in July per Goshen's books Receipts in July per bank statement P218,373 236,452 212,529 249,108 Determine the correct balance of the following A June 30 adjusted cash in bank balance B. July 31 adjusted receipts CuN 31 adiusted disbursements

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 4PA

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