PLEASE ANSWER ASAPProblem No. 2The following information pertains to AACA Corp.:AACA Corp.BANK RECONCILIATIONNovember 30, 2022Balance per bank statement P435,000Less: Outstanding checks No. 4321P 6,000 432915,000 43401,700 43414,67527,375 P407,625Add: Deposit in transit 16,200Balance per books P423,825 Check RegisterDecember 2022DatePayeeNo.Voucher PayableDiscountCashDec. 1Earl Inc.4342P10,000P500P9,5003JonJon Co.43434,200-4,2007Aldous Corp.43443,755-3,75512Von Company434512,00012011,88015Payroll434696,000-96,00016Abraham Co.43476,300-6,30018Rian Corp.434814,20014214,05821Mark, Inc.43497,000-7,00022Petty cash fund435010,000-10,00028Payroll435198,000-98,000 P261,455P762P260,693 Bank StatementBank of the PhilippinesNov. 30, 2022 to Dec. 31, 2022DateDescriptionNumberDebitCreditBalanceBalance last statement P435,000Dec. 1Cash deposit P16,200451,2001Check issued4329P15,000 436,2004Check issued43429,500 426,7004Check issued 43414,675 422,0255Check deposit 49,000471,0256Check issued 43434,200 466,8258Check deposit 14,000480,82510Check issued43443,755 477,07015Encashment434696,000 381,07022Encashment435010,000 371,07028Encashment435198,000 273,070 Debit memo – service charge 1,000 272,07029Credit memo – Interest 1,550273,620Deposit in transit at December 31 totaled P49,000.What is the total book receipts for December?What is the cash balance per books on December 31, 2022?What is the total outstanding checks on December 31, 2022?What is the adjusted cash balance on November 30, 2022?What is the adjusted cash balance on December 31, 2022?

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Answered: ormation pertains to AACA Corp.: AACA…

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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Problem No. 2

The following information pertains to AACA Corp.:

AACA Corp. BANK RECONCILIATION November 30, 2022
Balance per bank statement		P435,000
Less: Outstanding checks
No. 4321	P 6,000
4329	15,000
4340	1,700
4341	4,675	27,375
		P407,625
Add: Deposit in transit		16,200
Balance per books		P423,825

Check Register December 2022
Date	Payee	No.	Voucher Payable	Discount	Cash
Dec. 1	Earl Inc.	4342	P10,000	P500	P9,500
3	JonJon Co.	4343	4,200	-	4,200
7	Aldous Corp.	4344	3,755	-	3,755
12	Von Company	4345	12,000	120	11,880
15	Payroll	4346	96,000	-	96,000
16	Abraham Co.	4347	6,300	-	6,300
18	Rian Corp.	4348	14,200	142	14,058
21	Mark, Inc.	4349	7,000	-	7,000
22	Petty cash fund	4350	10,000	-	10,000
28	Payroll	4351	98,000	-	98,000
			P261,455	P762	P260,693

Bank Statement Bank of the Philippines Nov. 30, 2022 to Dec. 31, 2022
Date	Description	Number	Debit	Credit	Balance
Balance last statement					P435,000
Dec. 1	Cash deposit			P16,200	451,200
1	Check issued	4329	P15,000		436,200
4	Check issued	4342	9,500		426,700
4	Check issued	4341	4,675		422,025
5	Check deposit			49,000	471,025
6	Check issued	4343	4,200		466,825
8	Check deposit			14,000	480,825
10	Check issued	4344	3,755		477,070
15	Encashment	4346	96,000		381,070
22	Encashment	4350	10,000		371,070
28	Encashment	4351	98,000		273,070
	Debit memo – service charge		1,000		272,070
29	Credit memo – Interest			1,550	273,620

Deposit in transit at December 31 totaled P49,000.

What is the total book receipts for December?
What is the cash balance per books on December 31, 2022?
What is the total outstanding checks on December 31, 2022?
What is the adjusted cash balance on November 30, 2022?
What is the adjusted cash balance on December 31, 2022?

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