As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the entity. The following data related to Mickey Mouse Corporation Inc. Dec. 31, 2021 1,008,000 976,608 324,000 169,920 Nov. 30, 2021 748,800 Balance per books Balance per bank statements Deposit in Transit Outstanding checks Bank service charges Bank credit memo for proceeds of bank loan NSF Checks 773,856 230,400 205,920 1,728 1,152 144,000 87,264 36,000 20,160 Additional information: • Receipts and disbursements per books during December are P3,600,000 and P3,340,800 respectively. • Total deposits/credits reflected in the bank statement amounted to P3,563,136 • Check no. 456 for P2,760 recorded by depositor as P3,960 in error •1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey Mouse Company.
As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the entity. The following data related to Mickey Mouse Corporation Inc. Dec. 31, 2021 1,008,000 976,608 324,000 169,920 Nov. 30, 2021 748,800 Balance per books Balance per bank statements Deposit in Transit Outstanding checks Bank service charges Bank credit memo for proceeds of bank loan NSF Checks 773,856 230,400 205,920 1,728 1,152 144,000 87,264 36,000 20,160 Additional information: • Receipts and disbursements per books during December are P3,600,000 and P3,340,800 respectively. • Total deposits/credits reflected in the bank statement amounted to P3,563,136 • Check no. 456 for P2,760 recorded by depositor as P3,960 in error •1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey Mouse Company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
What is the adjusted receipts balance on December 31, 2021?
What is the adjusted cash balance on December 31, 2021
Transcribed Image Text:As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank
balance of the entity. The following data related to Mickey Mouse Corporation Inc.
Nov. 30, 2021
748,800
Dec. 31, 2021
1,008,000
976,608
Balance per books
Balance per bank statements
Deposit in Transit
Outstanding checks
Bank service charges
Bank credit memo for proceeds of bank loan
NSF Checks
773,856
230,400
205,920
1,728
87,264
36,000
324,000
169,920
1,152
144,000
20,160
Additional information:
• Receipts and disbursements per books during December are P3,600,000 and P3,340,800
respectively.
• Total deposits/credits reflected in the bank statement amounted to P3,563,136
• Check no. 456 for P2,760 recorded by depositor as P3,960 in error
•1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey
Mouse Company.
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