Reference no: EM132773248
Problem - In the course of our audit of SOCIALDISTANCING Inc.'s cash in bank for the year ended December 31, 2019, you ascertained the following information.
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November 30
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December 31
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Cash Per Books
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82,350
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201,425
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Cash Per Bank Statements
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535,410
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689,085
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Undeposited Collections
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41,005
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64,400
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Outstanding Checks
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138,590
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150,560
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Bank Service Charges
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3,600
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3,000
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Insufficient Fund Check
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41,250
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Company's Note Receivable Collected by Bank
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359,075
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404,500
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The bank statement and the company's records show the following totals:
Checks and Debit Memos per Bank Statement 1,091,865
Cash Receipts per Cash Records ?
Cash Disbursements per Cash Records ?
Deposits and Credit Memos per Bank Statement 1,245,540
The insufficient fund check was redeposited in the same month. No entries are made to take up the return and redeposit.
Required -
1: What is the adjusted book balance on November 30?
2: What is the adjusted book balance on December 31?
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