The accountant for the Muntinlupa Company assembled the following data: June 30 P 15,822 P 39,745 107,082 8,201 27,718 72 July 31 Cash account balance Bank statement balance 137,817 12,880 Deposits in transit Outstanding checks Bank service charge Customer's check deposited July 10, returned by bank on July 16 marked NSF, and redeposited immediately; no entry made on books for return or redeposit Collection by bank of company's notes receivable 30,112 60 8,250 71,815 80,900 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement Cash receipts in July per Muntinlupa's books P218,373 236,452 QUESTIONS: Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: How much is the adjusted cash balance as of June 30? How much is the adjusted bank receipts for July?
The accountant for the Muntinlupa Company assembled the following data: June 30 P 15,822 P 39,745 107,082 8,201 27,718 72 July 31 Cash account balance Bank statement balance 137,817 12,880 Deposits in transit Outstanding checks Bank service charge Customer's check deposited July 10, returned by bank on July 16 marked NSF, and redeposited immediately; no entry made on books for return or redeposit Collection by bank of company's notes receivable 30,112 60 8,250 71,815 80,900 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement Cash receipts in July per Muntinlupa's books P218,373 236,452 QUESTIONS: Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: How much is the adjusted cash balance as of June 30? How much is the adjusted bank receipts for July?
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:12:56
84
-Template- ONLINE Qui...
The accountant for the Muntinlupa Company assembled the following data:
June 30
P 15,822
107,082
July 31
P 39,745
137,817
Cash account balance
Bank statement balance
Deposits in transit
Outstanding checks
Bank service charge
Customer's check deposited July 10, returned by
bank on July 16 marked NSF, and redeposited
immediately; no entry made on books for
return or redeposit
Collection by bank of company's notes receivable
8,201
27,718
72
12,880
30,112
60
8,250
71,815
80,900
The bank statements and the company's cash records show these totals:
Disbursements in July per bank statement
Cash receipts in July per Muntinlupa's books
P218,373
236,452
QUESTIONS:
Based on the application of the necessary audit procedures and appreciation of the above data, you
are to provide the answers to the following:
How much is the
adjusted cash balance
as of June 30?
How much is the
adjusted bank
receipts for July?
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