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Determine the following as a result of your audit: 1. What is the adjusted cash balance as of November 30? a. P507,825 b. P578,935 C. P604,435 d. P605,835 2. What is the unadjusted book disbursement in December? a. P1,103,835 b. P1,104,435 c. P1,078,935 d. P1,125,510 3. What is the unadjusted cash balance per book as of December 31? a. P85,410 b. P90,350 C. P81,425 d. P87,825 4. What is the adjusted receipts as of December 31? a. P1,058,425 b. P1,078,935 c. P1,081,425 d. P1,066,295 wh her 313

Determine the following as a result of your audit: 1. What is the adjusted cash balance as of November 30? a. P507,825 b. P578,935 C. P604,435 d. P605,835 2. What is the unadjusted book disbursement in December? a. P1,103,835 b. P1,104,435 c. P1,078,935 d. P1,125,510 3. What is the unadjusted cash balance per book as of December 31? a. P85,410 b. P90,350 C. P81,425 d. P87,825 4. What is the adjusted receipts as of December 31? a. P1,058,425 b. P1,078,935 c. P1,081,425 d. P1,066,295 wh her 313

FINANCIAL ACCOUNTING
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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CASE 3: In the course of the audit of Blue Whale Company's cash in bank for the year ended December 31,2018, you ascertained the following information: Cash per books Cash per bank statements. Undeposited collections Outstanding checks Bank service charges Insufficient fund check Company's notes receivable collected by the bank The bank statement and the company's cash records show the following totals: Check and debit memos per bank statement Cash receipts per cash record Cash disbursements per cash records Deposits and credit memos per bank statement Determine the following as a result of your audit: 1. What is the adjusted cash balance as of November 30? a. P507,825 b. P578,935 C. P604,435 d. P605,835 2. What is the unadjusted book disbursement in December? a. P1.103.835 b. P1,104,435 c. P1,078,935 Nov. 30 P60,350 535,410 Additional information: a. The insufficient fund check was re-deposited in the same month. No entries were made to take up the return and re-deposit. b. P90,350 C. P81,425 d. P87,825 41,005 138,590 3,600 41,250 433,075 b. A P70,000 bank charge error in November was corrected by the bank in December, while at P120,000 deposit of Blue Sea Corp. was erroneously credited by the bank to the company's account in December. c. A P13,000 disbursement check was recorded in November as P31,000. The error was discovered and corrected in December. d. P1,125,510 3. What is the unadjusted cash balance per book as of December 31? a. P85,410 4. What is the adjusted receipts as of December 31? a. P1,058,425 d. A P200,000 customer collection was recorded in the books in December as P20,000, the error was detected and corrected in December. b. P1,078,935 c. P1,081,425 d. P1,066,295 5. What is the adjusted disbursement as of December 31? a. P1,108,425 b. P1,111,935 c. P1,120,425 d. P1,103,835 6. What is the correct cash balance as of December 31? a. P482,925 Dec. 31 P? b. P439,185 c. P392,995 d. P497,955 689,085 64,400 150,560 3,000 404,500 P1,091,865 1,125,510 ? 1,245,540
Transcribed Image Text:CASE 3: In the course of the audit of Blue Whale Company's cash in bank for the year ended December 31,2018, you ascertained the following information: Cash per books Cash per bank statements. Undeposited collections Outstanding checks Bank service charges Insufficient fund check Company's notes receivable collected by the bank The bank statement and the company's cash records show the following totals: Check and debit memos per bank statement Cash receipts per cash record Cash disbursements per cash records Deposits and credit memos per bank statement Determine the following as a result of your audit: 1. What is the adjusted cash balance as of November 30? a. P507,825 b. P578,935 C. P604,435 d. P605,835 2. What is the unadjusted book disbursement in December? a. P1.103.835 b. P1,104,435 c. P1,078,935 Nov. 30 P60,350 535,410 Additional information: a. The insufficient fund check was re-deposited in the same month. No entries were made to take up the return and re-deposit. b. P90,350 C. P81,425 d. P87,825 41,005 138,590 3,600 41,250 433,075 b. A P70,000 bank charge error in November was corrected by the bank in December, while at P120,000 deposit of Blue Sea Corp. was erroneously credited by the bank to the company's account in December. c. A P13,000 disbursement check was recorded in November as P31,000. The error was discovered and corrected in December. d. P1,125,510 3. What is the unadjusted cash balance per book as of December 31? a. P85,410 4. What is the adjusted receipts as of December 31? a. P1,058,425 d. A P200,000 customer collection was recorded in the books in December as P20,000, the error was detected and corrected in December. b. P1,078,935 c. P1,081,425 d. P1,066,295 5. What is the adjusted disbursement as of December 31? a. P1,108,425 b. P1,111,935 c. P1,120,425 d. P1,103,835 6. What is the correct cash balance as of December 31? a. P482,925 Dec. 31 P? b. P439,185 c. P392,995 d. P497,955 689,085 64,400 150,560 3,000 404,500 P1,091,865 1,125,510 ? 1,245,540
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