Reference no: EM132657932
Questions -
Q1. Jane Company provided the following information on December 31, 2020: Cash in bank per bank statement P 8 million DIT 1.2 million O/C 1.3 million Amount erroneously credited by bank to Jane's account 150,000 Note collected by bank for the entity 1.1 million Service Charge for December 20,000 NSF 500,000 Error in recording check in the book. Correct amount is P100,000 instead of P200,000 as recorded 100,000 Saving deposit in other banks closed by BSP 1 million Currency and coins on hand 900,000 Petty cash fund 50,000
What is the unadjusted cash in bank per ledger on December 31, 2020?
What is the adjusted cash in bank balance?
What is the total cash to be reported as current asset on December 31, 2020?
Q2. The accountant for the OppaHaeKo Company assembled the following data: June 30 July 31 Cash account balance P 15, 822 P 39,745 Bank statement balance 107, 08 137, 817 DIT 8, 201 12, 880 O/C 27, 718 30, 112 BSC 72 60 Customer's check deposited in July 10, returned by bank on July 16 marked NSF, and redeposited immediately; no entry on books for returned or redeposited 8, 250 Collection by bank of the company's Note receivable 71, 815 80, 900
The bank statements and the company's cash records show these totals: Disbursements in July per bank statement P 218, 373 Cash receipts in July per OppaHaeKo's books 236, 452
Based on the above data, you are provided to answer the following questions:
1. How much is the adjusted cash balance as of June 30?
2. How much is the adjusted bank receipts for July?
3. How much is the adjusted book disbursements for July?
4. How much is the adjusted cash balance for July?
5. How much is the cash shortage as of July 31?
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