Answered: B. 772,150 C. 779,650

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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Q1. Honesty & Co. What is the adjusted cash amount of cash receipts during October
A. 760,650
B. 772,150
C. 779,650
D. 789,650

Q2. Honesty & Co. What is the adjusted amount of disbursements per bank during October?
A. 624,700
B. 605,700
C. 633,200
D. 615,700

Q3. Honesty & Co. What is the adjusted cash balance as of September 30, 2021?
A. 3,000
B. 2,500
C. None of the options
D. 2,000

Q4. Honesty & Co. What is the unadjusted amount of cash receipts per bank during October?
A. 789,650
B. None of the options
C. 780,450
D. 790,450

Q5. Honesty & Co. What is the unadjusted amount of cash disbursements per book during October?
A. None of the options
B. 640,300
C. 630,300
D. 633,200

Problem 1- Honesty & Co.
The following information is made available to you for the audit of Honesty & Co.
Sep-21
Oct-21
Outstanding checks, end of the month
66,000
61,500
Deposits in transit, end of the month
55,500
64, 700
Bank credit memo for note collected
123,500
97,800
Bank service charges
DAIF check returned by bank (recorded by the
depositor in the month following the month
3,250
3,650
when checks were returned)
25,000
17,500
Cash per general ledger, end of the month
- 93,250
81,800
Cash per bank statement, end of the month
12,500
155,250
Total receipts per books
837,000
815,350
Total charges by bank
598,000
637,700

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