Based on the audit findings, answer the following: 1. What is the unadjusted book receipts in december? 2. What is the unadjusted book disbursements in december? - need answer for this question 3. what is the correct cash balance as of november 30?
Based on the audit findings, answer the following: 1. What is the unadjusted book receipts in december? 2. What is the unadjusted book disbursements in december? - need answer for this question 3. what is the correct cash balance as of november 30?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Based on the audit findings, answer the following:
1. What is the unadjusted book receipts in december?
2. What is the unadjusted book disbursements in december? - need answer for this question
3. what is the correct cash balance as of november 30?
4. what is the unadjusted cash balance per books as of december 31? - need answer for this question
5. what is the correct cash balance as of december 31? - need answer for this question
![Problem 06 - Proof of Cash
In the course of our audit of Bente Corporation's cash in bank for the year ended December 31, 2021, you
ascertained the following information:
November 30 December 31
Cash per book
Cash per bank
Undeposited checks
Outstanding checks
Bank service charges
Insufficient fund check
Company's notes receivable collected by bank
?
60,350
535,410
41,005
689,085
64,400
150,560
3,000
41,250
138,590
3,600
359,075
404,500
The bank statement and the company's records show the following totals:
Cash disbursements per bank statement
Cash receipts per cash records
Cash disbursements per cash records
Cash receipts per bank statement
1,091,865
1,245,540
Additional information:
• The insufficient fund check was redeposited in the same month. No entries are made to take up the
returm and redeposit.
A P50,000 bank charge error in November was corrected by the bank in December, while a P20,000
deposit of House-boy Corporation was erroneously credited by the bank of the company's account in
December.
AP19,000 disbursement check was recorded in November as P91,000. The error was discovered and
corrected in December.
A P20,000 customer collection was recorded in the books in December as P200,000, the error was
detected and corrected in December.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F44f9114f-8657-4aa3-bf39-7c1fda7c7c70%2F624c7ea5-8d92-47bc-b3c5-7dfe1cd572e5%2Fsslq2mh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 06 - Proof of Cash
In the course of our audit of Bente Corporation's cash in bank for the year ended December 31, 2021, you
ascertained the following information:
November 30 December 31
Cash per book
Cash per bank
Undeposited checks
Outstanding checks
Bank service charges
Insufficient fund check
Company's notes receivable collected by bank
?
60,350
535,410
41,005
689,085
64,400
150,560
3,000
41,250
138,590
3,600
359,075
404,500
The bank statement and the company's records show the following totals:
Cash disbursements per bank statement
Cash receipts per cash records
Cash disbursements per cash records
Cash receipts per bank statement
1,091,865
1,245,540
Additional information:
• The insufficient fund check was redeposited in the same month. No entries are made to take up the
returm and redeposit.
A P50,000 bank charge error in November was corrected by the bank in December, while a P20,000
deposit of House-boy Corporation was erroneously credited by the bank of the company's account in
December.
AP19,000 disbursement check was recorded in November as P91,000. The error was discovered and
corrected in December.
A P20,000 customer collection was recorded in the books in December as P200,000, the error was
detected and corrected in December.
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