Reference no: EM132899390

Question - You gathered the following data of Julia Roberts Company: Balance per book, December 31, 2020, P(25,000).

1. Balance per bank, December 31, 2020, P466,500.

2. Outstanding checks, December 31, P981,750.

3. December service charges, P1,500.

4. NSF check returned by the bank on December 10 was redeposited by mail on December 29. No entries were made in the books. Amount of the check was P159,500.

5. Collection from customer, deposited on December 12 was entered:

Entered as P1,138,500

Correct amount 1,363,750

1. During December, the bank certified a company check for P73,250. This check was included in the outstanding checks above, as it was not among the canceled checks.

2. Cash sales proceeds of December 29 were sent to the bank on that day, P454,250.

3. On December 21, the bank charged the company's account for P157,500 loan made to the company on September 30. Interest at 9% was deducted in advance and charged to Interest Expense.

4. A deposit of Julio Roberto Company, P32,750 was credited by bank in error to the company's account.

5. The company has neglected to record two reconciling items appeared on the bank statement: A collection by bank of 6% 30-day note, P100,000 and interest less collection fee of P250. Date of note was November 19.

6. Check no. 116 for P96,500 made payable to Hugh Grant Store was reported lost. The company ordered the bank to stop payment and a new check was issued. The old check was found and canceled. When the new check was recorded, Accounts Payable was debited. Both checks are included among the outstanding checks above.

7. Included among the canceled checks was a debit memo applicable to Julio Roberto Company, P2,500.

In the preparation of bank reconciliation statement, how much should be shown as the total increase in cash per book?

In the preparation of bank reconciliation statement, how much should be shown as the total decrease in cash per book?

In the preparation of bank reconciliation statement, how much should be shown as the total increase in cash per bank?

In the preparation of bank reconciliation statement, how much should be shown as the total decrease in cash per bank?