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How much is the cash balance per bank on December

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Reference no: EM132976044

Question - Kindly Prepare the audit working papers to this case. and please explain thank you!

Shown below is the bank reconciliation for Marikina Company for November 2018:

Balance per bank, Nov. 30, 2018 P150,000

Add: Deposits in transit 24,000

Total 174,000

Less: Outstanding checks P28,000

Bank credit recorded in error 10,000 38,000

Cash balance per books, Nov. 30, 2018 P136,000

The bank statement for December 2018 contains the following data:

Total deposits P110,000

Total charges, including NSF check of P8,000 and a service charge of P400 96,000

All outstanding checks in November 30, 2018, including the bank credit, were cleared in the bank in December 2018.

There were outstanding checks of P30,000 and deposits in transit of P38,000 on December 31, 2018.

Based on the result of your audit, answer the following:

1. How much is the cash balance per bank on December 31, 2018?

2. How much is the December receipts per books?

3. How much is the December disbursements per books?

4. How much is the cash balance per books on December 31, 2018?

5. The adjusted cash in bank balance as of December 31, 2018 is?

Reference no: EM132976044

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