Homework answers / question archive / 3) Shown below is the bank reconciliation for Karen Company for November 2018: Balance per bank, Nov, 30, 2018                                  P150,000     Add; Deposit 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

3) Shown below is the bank reconciliation for Karen Company for November 2018: Balance per bank, Nov, 30, 2018                                  P150,000     Add; Deposit 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

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3) Shown below is the bank reconciliation for Karen Company for November 2018:

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

    Add; Deposit 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 2010 contains the following data:

•     Total deposits                                                                              P110,000
•     Total charges, including an NSF check of P8,000

and a service charge of P400                     96,000

 

All outstanding checks on 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, 2010.

 

QUESTIONS:

Based on the above and 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 bank balance as of December 31, 2018 is