The following bank reconciliation is presented for the Pony Co. for the month of November, 2020: Balance per bank statement, 11/30/2020 P180,400 Add: Deposit in transit P41,500 Erroneous bank charge 15,500 56,500 Subtotal P236,900 Less: Outstanding Checks 78,200 Balance per books, 11/30/2020 P158,700 Data for the month of December 2020 follow: Per bank: December deposits/credits — P261,000 December charges/debits — P224,200 Balance, December 31, 2020 — P217,200 All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P25,000 checks were outstanding as of December 31, 2020. What is the amount of cash disbursements per books in December 2020? (WITH SOLUTION) a. P146,000 b. P171,000 c. P249,200 d. P249.200
The following bank reconciliation is presented for the Pony Co. for the month of November, 2020: Balance per bank statement, 11/30/2020 P180,400 Add: Deposit in transit P41,500 Erroneous bank charge 15,500 56,500 Subtotal P236,900 Less: Outstanding Checks 78,200 Balance per books, 11/30/2020 P158,700 Data for the month of December 2020 follow: Per bank: December deposits/credits — P261,000 December charges/debits — P224,200 Balance, December 31, 2020 — P217,200 All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P25,000 checks were outstanding as of December 31, 2020. What is the amount of cash disbursements per books in December 2020? (WITH SOLUTION) a. P146,000 b. P171,000 c. P249,200 d. P249.200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
MC49
The following bank reconciliation is presented for the Pony Co. for the month of November, 2020:
| Balance per bank statement, 11/30/2020 | P180,400 | |
|
Add: Deposit in transit |
P41,500 | |
| Erroneous bank charge | 15,500 | 56,500 |
| Subtotal | P236,900 | |
| Less: Outstanding Checks | 78,200 | |
| Balance per books, 11/30/2020 | P158,700 |
Data for the month of December 2020 follow:
Per bank: December deposits/credits — P261,000
December charges/debits — P224,200
Balance, December 31, 2020 — P217,200
All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P25,000 checks were outstanding as of December 31, 2020.
What is the amount of cash disbursements per books in December 2020? (WITH SOLUTION)
a. P146,000
b. P171,000
c. P249,200
d. P249.200
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