The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000at December 31, 2020:Cuay CorporationBANK RECONCILIATIONNovember 30, 2020Balance per bank statement P 435,000Less: Outstanding checksCheck No. 4321 P 6,000Check No. 4329 15,000Check No. 4340 1,700Check No. 4341 4,675 27,375Total P 407,625Add: Deposits in transit 16,200Balance per books P 423,8251. What is the total book receipts for December?2. What is the cash balance per books on December 31, 2020?3. What is the total outstanding checks on December 31, 2020?4. What is the adjusted cash balance on November 30, 2020?5. What is the adjusted cash balance on December 31, 2020? BANK STATEMENTBANKABLE BANKPage 1 of 1PERIOD: November 30, 2020 to December 31, 2020No.: 001-43-44DateDescriptionCheck No.DebitCreditBalanceP 435,000451,200436,200426,700Balance last statementP 16,200Cash depositCheck issuedDec.1P 15,0009,5004,675143294Check issued43424Check issued4341422,0255Check deposit49,000471,025Check issued43434,200466,825480,825477,070381,07068Check deposit14,0003,75596,00010,00098,0001,00010Check issued434415Encashment4346EncashmentEncashmentDebit memo – BSCCredit memo – interest224350371,070273,070272,070273,62028435129291,550 CHECK REGISTERDecember 2020VouchersDateРаyeCheck No.DiscountCashРаyableP 10,0004,2003,755San Beda, Inc.Miriam CorporationUE EnterprisesPSBA Corporation15 Рayroll16 BU, Inc.New Era CompanyUST, Inc.22 Petty cash fund28 РаyrollDec.14342P500P9,500343434,2003,75511,88074344434512,00096,0006,30014,2007,00012120434696,0006,30014,0584347184348142217,00010,0004349435010,00098,000435198,000TotalP 261,455P762P 260,693

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Answered: 1. What is the total book receipts for…

1. What is the total book receipts for December? 2. What is the cash balance per books on December 31, 2020? 3. What is the total outstanding checks on December 31, 2020?

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.4C

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Additional Information:1) A count of the petty cash fund on January 2, 2020 showed its composition asfollowsCurrency and coins P 6,000Petty cash vouchers, all dated 2019,Except for P 1,500 which pertains to 2020 6,000Employees postdated check 3,000Total P 15, 0002) The following are some of the December 31, 2019 reconciling items noted for cashin bank: a. Customers’ checks returned by the bank marked “DAIF” in December 2019, re-deposited in January 2020, P 35,000. b. A bank credit memo representing collection by bank from one of the company’smajor customers, P 40,000.c. A check drawn by another company for P 25,000 Incorrectly charged by bank inDecember 2019.d. Checks issued by the company in 2019 and not yet cleared by the bank as ofDecember 31, 2019 P 105,000.e. The company wrote several checks at the end of 2017 for accounts payable thatwere held and not mailed until January 15, 2020. These totaled P 48, 300 and wereincluded in the outstanding checks of December 31, 2019. 3) The…
Answer all of the following questions 1. On October 1, 2019, O Company establishes a petty cash fund by issuing a check for RO 500 to the petty cash fund. On October 31, 2019, the following paid petty cash receipts for replenishment of the petty cash fund were provided when there is RO 94 cash in the fund:Freight-Out RO 72Supplies Expense 102Entertainment of Clients 110Postage Expense 51InstructionsPrepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31.
MC37 In preparing its August 31, 2020 bank reconciliation, Jade Company has available the following information: Balance per bank statement, 8/31/2020 — P180,500 Deposit in transit,8/31/2020 — P32,500 Return of costumer's NSF check, 8/31/2020 — P6,000 Outstanding checks, 8/31/2020 — P27,500 Bank service charges for August — P1,000 At August 31, 2020, Jade Company's correct cash balance is? (with solution) a. P192,500 b. P185,500 c. P179,500 d. P178,500
On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…
On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…
You were able to gather the following from the December 31, 2020 trialbalance of PPP COMPANY:Cash on hand P 500,000Petty cash fund 10,000BPI current account 1,000,000Security Bank current account No. 1 1,080,000Security Bank current account No. 2 (80,000)PNB savings account 1,200,000PNB current account 500,000 Cash on hand includes the following items: Customer’s check for 45,000 returned by bank on December 26, 2020 dueto insufficiency of funds but subsequently redeposited and cleared bythe bank on January 8, 2021 Customer’s check for 25,000 dated January 2, 2021, received inDecember 29, 2020 Postal money orders received from customers 30,000The petty cash fund consisted of the following items as of December 31, 2020Currency and coins P 2,000Employees’ vales 1,600Currency in envelope marked “collections for charity 1,200Unreplenished petty cash vouchers 1,300Check drawn by PPP payable to petty cash custodian 4,00010,100 Included among the checks drawn by PPP against the BPI current…