You are examining the following client-prepared bank reconciliation during your examination of the financial statements of LUNA Concrete Products, Inc.: LUNA Concrete Products, Inc.Bank ReconciliationDecember 31, 20x3 Balance per bank (a) P 18,375.91Deposits in transit (b) December 30 December 31 1,471.102,840.69 4,311.79Outstanding checks (c) 837 1941 1966 1984 1985 1986 1991 6,000.00 671.80320.00 1,855.423,621.222,576.894,420.88 (19,466.21)Sub-total 3,221.49NSF check returned Dec 29 (d) 200.00Bank charges 5.50Customer note collected by the bank (P2,750 plus P275 interest) (e) (3,025.00)Balance per books (f) P550.09 Required : Identify a specific substantive procedure that you should perform to gather evidence in support of each of the items (a) through(f) above.

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 2CE

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You are examining the following client-prepared bank reconciliation during your examination of the financial statements of LUNA Concrete Products, Inc.:

LUNA Concrete Products, Inc. Bank Reconciliation December 31, 20x3
Balance per bank (a)		P 18,375.91
Deposits in transit (b) December 30 December 31	1,471.10 2,840.69	4,311.79
Outstanding checks (c) 837 1941 1966 1984 1985 1986 1991	6,000.00 671.80 320.00 1,855.42 3,621.22 2,576.89 4,420.88	(19,466.21)
Sub-total		3,221.49
NSF check returned Dec 29 (d)		200.00
Bank charges		5.50
Customer note collected by the bank (P2,750 plus P275 interest) (e)		(3,025.00)
Balance per books (f)		P550.09

Required :

Identify a specific substantive procedure that you should perform to gather evidence in support of each of the items (a) through(f) above.

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