As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the entity. The following data related to Mickey Mouse Corporation Inc. Nov. 30, 2021 748,800 Dec. 31, 2021 1,008,000 976,608 324,000 Balance per books Balance per bank statements Deposit in Transit Outstanding checks Bank service charges Bank credit memo for proceeds of bank loan NSF Checks 773,856 230,400 169,920 1,152 144,000 20,160 205,920 1,728 87,264 36,000 Additional information: • Receipts and disbursements per books during December are P3,600,000 and P3,340,800 respectively. • Total deposits/credits reflected in the bank statement amounted to P3,563,136 • Check no. 456 for P2,760 recorded by depositor as P3,960 in error •1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey Mouse Company.
As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the entity. The following data related to Mickey Mouse Corporation Inc. Nov. 30, 2021 748,800 Dec. 31, 2021 1,008,000 976,608 324,000 Balance per books Balance per bank statements Deposit in Transit Outstanding checks Bank service charges Bank credit memo for proceeds of bank loan NSF Checks 773,856 230,400 169,920 1,152 144,000 20,160 205,920 1,728 87,264 36,000 Additional information: • Receipts and disbursements per books during December are P3,600,000 and P3,340,800 respectively. • Total deposits/credits reflected in the bank statement amounted to P3,563,136 • Check no. 456 for P2,760 recorded by depositor as P3,960 in error •1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey Mouse Company.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5DQ
Related questions
Question
What is the adjusted cash balance on December 31, 2021
Transcribed Image Text:As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank
balance of the entity. The following data related to Mickey Mouse Corporation Inc.
Nov. 30, 2021
748,800
Dec. 31, 2021
1,008,000
976,608
Balance per books
Balance per bank statements
Deposit in Transit
Outstanding checks
Bank service charges
Bank credit memo for proceeds of bank loan
NSF Checks
773,856
230,400
205,920
1,728
87,264
36,000
324,000
169,920
1,152
144,000
20,160
Additional information:
• Receipts and disbursements per books during December are P3,600,000 and P3,340,800
respectively.
• Total deposits/credits reflected in the bank statement amounted to P3,563,136
• Check no. 456 for P2,760 recorded by depositor as P3,960 in error
•1,200 interest chargeable to Minnie Mouse Inc. was erroneously charged by the bank to Mickey
Mouse Company.
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