The following information was obtained in connection with the audit of XXX Corporation’s cash account as of December 31, 2021: Outstanding checks, November 30, 2021 – P16,250; Outstanding checks, December 31, 2021 – P12,500; Deposit in transit, November 30, 2021 – P12,500; Cash balance per books, December 31, 2021 – P 37,500; Actual company collections from its customers during December – P152,500; Company checks paid by bank in December – P130,000; Bank service charges recorded on company books in December – P2,500; Bank service charges per December bank statement – P3,250; Deposits credited by bank during December – P145,000; November bank service charges recorded on company books in December – P1,500. The cash receipts book of December is underfooted by P2,500. The bank erroneously charged the company’s account for P3,750 check of another depositor. This bank error was corrected in January 2022. REQUIRED: Prepare a proof of cash using book to bank method
The following information was obtained in connection with the audit of XXX Corporation’s cash account as of December 31, 2021:
Outstanding checks, November 30, 2021 – P16,250; Outstanding checks, December 31, 2021 – P12,500; Deposit in transit, November 30, 2021 – P12,500; Cash balance per books, December 31, 2021 – P 37,500; Actual company collections from its customers during December – P152,500; Company checks paid by bank in December – P130,000; Bank service charges recorded on company books in December – P2,500; Bank service charges per December bank statement – P3,250; Deposits credited by bank during December – P145,000; November bank service charges recorded on company books in December – P1,500. The cash receipts book of December is underfooted by P2,500. The bank erroneously charged the company’s account for P3,750 check of another depositor. This bank error was corrected in January 2022.
REQUIRED: Prepare a proof of
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