The following information was obtained in connection with the review of Taekook Company’s cash account as of December 31, 2020. Outstanding checks, 11/30/2020- P16,250 Outstanding checks, 12/31/2020- P12,500 Deposit in transit 11/30/2020- P12,500 Cash balance per ledger 12/31/2020- P37,500 Actual company collections from its customers during December - P152,500 Company checks paid by bank in December- P130,000 Bank service charges recorded on books of the company in December- P2,500 Bank service charges per December bank statement- P3,250 Deposit credited by bank during December- P145,000 November bank service charges recorded on company books on December- P1,500 The cash receipts per book of December is underfooted by P2,500. Also, the bank erroneously charged the company’s account for a P3,750 check of another depositor. The bank error was corrected in January 2021. What is the unadjusted book disbursements in December?
The following information was obtained in connection with the review of Taekook Company’s cash account as of December 31, 2020. Outstanding checks, 11/30/2020- P16,250 Outstanding checks, 12/31/2020- P12,500 Deposit in transit 11/30/2020- P12,500 Cash balance per ledger 12/31/2020- P37,500 Actual company collections from its customers during December - P152,500 Company checks paid by bank in December- P130,000 Bank service charges recorded on books of the company in December- P2,500 Bank service charges per December bank statement- P3,250 Deposit credited by bank during December- P145,000 November bank service charges recorded on company books on December- P1,500 The cash receipts per book of December is underfooted by P2,500. Also, the bank erroneously charged the company’s account for a P3,750 check of another depositor. The bank error was corrected in January 2021. What is the unadjusted book disbursements in December?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information was obtained in connection with the review of Taekook Company’s cash account as of December 31, 2020.
- Outstanding checks, 11/30/2020- P16,250
- Outstanding checks, 12/31/2020- P12,500
- Deposit in transit 11/30/2020- P12,500
- Cash balance per ledger 12/31/2020- P37,500
- Actual company collections from its customers during December - P152,500
- Company checks paid by bank in December- P130,000
- Bank service charges recorded on books of the company in December- P2,500
- Bank service charges per December bank statement- P3,250
- Deposit credited by bank during December- P145,000
- November bank service charges recorded on company books on December- P1,500
The cash receipts per book of December is underfooted by P2,500. Also, the bank erroneously charged the company’s account for a P3,750 check of another depositor. The bank error was corrected in January 2021.
What is the unadjusted book disbursements in December?
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