4. What is the amount of cash disbursements per bookProblem 3-10 (AICPA Adapted)Add: Deposit in transitfor the month of November:Cool Company prepared the following bank reconciliationBalance per bank statement, November 30Balance per book, November 30I3,600,000per bank statement, November 30800,0004,400,000EILess: Outstanding checks1,200,000200,0001,400,000Bank credit recorded in error3,000,000Data per bank statement for the month of December:December deposits, including note receivablecollected of P1,000,000 for Cool CompanyDecember disbursements, including NSF checkP350,000 and service charge P50,0005,500,0004,400,000All items that were outstanding on November 30 clearedthrough the bank in December, including the bank creditIn addition, checks of P500,000 were outstanding anddeposits of P700,000 were in transit on December 31.1. What is the adjusted cash in bank on December 31?a. 4,700,000b. 4,900,000c. 4,500,000d. 3,200,0002. What is the balance of cash per ledger on December 31!a. 4,100,000b. 4,900,000c. 4,700,000d. 4,300,0003. What is the amount of cash receipts per book in Decembera. 5,400,000b. 4,400,000c. 5,500,000d. 6,400,0004.4. What is the amount of cash disbursements perDecember?a. 3,700,000b. 3,300,000c. 3,100,000d. 3,500,000

Bank reconciliation statement is defined as the document which compares the company cash balance on…

Adapted) Cool Company prepared the following bank reconciliation 3,600,000 800,000 for the month of November: Balance per bank statement, November 30 Add: Deposit in transit 4,400,000 1,200,000 200,000 1,400,000 3,000,000 Less: Outstanding checks Bank credit recorded in error Balance per book, November 30

Adapted) Cool Company prepared the following bank reconciliation 3,600,000 800,000 for the month of November: Balance per bank statement, November 30 Add: Deposit in transit 4,400,000 1,200,000 200,000 1,400,000 3,000,000 Less: Outstanding checks Bank credit recorded in error Balance per book, November 30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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