cash shortage as of December 31 and adjusted book balance as of december 31?please show complete solution You are examining the records of Shala Company where internal control is identified tobe weak. Part of your audit includes reconciliation of cash shortage for December2021. You have determined that Shala's cash reconciliation as of November 30, 2021is correct. The following information is available to you:Shala's bank reconciliation, November 2021Cash per general LedgerLess: Cash on handLess: Bank Service ChargeAdd: Outstanding ChecksBalance per BankCash receipts is summarized weekly. The cash receipts book for December is showbelow:Dec1815222981012Balance from November 30Received on accountsReceived on accountsReceived on accountsReceived on accountsThe cash payments record for December shows the following details:Dec1 November Service Charge3519223131526,34842,178484,1701,800482,370198,200680,570ChecksChecksChecksChecksChecksChecksChecksChecksBalance526,3485,154,9605,489,512931,9641,177,37013,060,1541,8001,047,300729,0423,278,9783,174,684969,778724,566738,4181,531,540862,24813,060,154s perCash on hand on December 31 amounted to P 20,000. The transactionDecember bank statement, which are correctly recorded by the bank, shows thatdeposits amounted to P12,574,184, checks paid amounted to P11,590,406, servicecharge for the month was P2,000 and a charge of P20,000 was made against theaccount because of the return unpaid of customer's check. The service charge and thereturned check were not recorded in Shala's books. The total outstanding checks as ofDecember 31 was found to be P822,100

Cash in Hand ledger in hand-opening 5,26,348 Cash receipts 1,30,10,654…

You are examining the records of Shala Company where internal control is identified to be weak. Part of your audit includes reconciliation of cash shortage for December 2021. You have determined that Shala's cash reconciliation as of November 30, 2021 is correct. The following information is available to you: Shala's bank reconciliation, November 2021 Cash per general Ledger Less: Cash on hand Less: Bank Service Charge Add: Outstanding Checks Balance per Bank 526,348 42,178 484,170 1,800 482,370 198,200 680,570 Cash receipts is summarized weekly. The cash receipts book for December is show helour

You are examining the records of Shala Company where internal control is identified to be weak. Part of your audit includes reconciliation of cash shortage for December 2021. You have determined that Shala's cash reconciliation as of November 30, 2021 is correct. The following information is available to you: Shala's bank reconciliation, November 2021 Cash per general Ledger Less: Cash on hand Less: Bank Service Charge Add: Outstanding Checks Balance per Bank 526,348 42,178 484,170 1,800 482,370 198,200 680,570 Cash receipts is summarized weekly. The cash receipts book for December is show helour

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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