Bank ReconciliationREQUIRED: A. Based on the application of the necessary procedures and appreciation of the above data, you are to provide the answers to the following: 1. How much is the unadjusted book receipts for August? 2. How much is the unadjusted book disbursements for August? 3. How much is the adjusted book receipts for August? 4. How much is the adjusted book disbursements for August? 5. How much is the adjusted cash balance as of August 31, 2022? B. Show the four column proof of cash as of August 31, 2022. C. Show the correct bank reconciliation, in good form, on August 31, 2022. Your audit senior instructed you to prepare a four column proof of cash receipts and disbursementsfor the month of August, 2022.The bank reconciliation prepared by Franc Company at July 31 is reproduced below: (All bookadjustments were recorded in August).Bank balanceAdd deposit in transit, July 31TotalLess outstanding checks:No. 436450451454Adjusted balanceDateJuly 31August 1August 6August 9P2001,8001,400600August 12August 15August 20August 27P52,000August 29August 31August 3190052,900Kapuso BankAccount Name: Franc CompanyDebits1,8001,400600140 DM1,000700Book balanceAdd:1,440Proceeds of note4,000P48,900 Adjusted balance100 EC440 SV300 DMreceivable collected bybank in JulyP48,900Upon inquiry about the client's August 31 bank reconciliation, you were informed that it has been lostand that the client is too busy at this time to prepare another. Your senior told you to get the Augustbank statement and paid checks and to prepare the August 31 reconciliation so that you maycomplete the August proof of cash.The August bank statement is reproduced below:Deposit made in bank onJuly 31 not recorded inbooks until AugustTotalLess bank service chargeCredits90010,00014014,000100 ECP40,0001,820SV-Service Charges; DM-Debit Memo; EC-Error Corrected; CM-Credit Memo8,0001,00049,000100 The paid checks accompanying this bank statement (all clearing in August) were (checks listed inorder of payment by bank).No. 450451454P1,800 No. 4554561,400600P1,000 No. 458459700P1,4401,820The check register revealed that the last check issued in August was no. 460 for P1,000 and thatcheck no. 457 was for P2,400.Cash received for the period August 21 through 31 of P9,400 was deposited in the bank onSeptember 1.The debit memo on August 12 and August 31 were customer NSF checks returned by the bank. Thecheck on August 12 was immediately redeposited without entry. The check returned on August 31was redeposited by the client in the bank on September 1 without entry.

Question

Bank ReconciliationREQUIRED: A. Based on the application of the necessary procedures and appreciation of the above data, you are to provide the answers to the following: 1. How much is the unadjusted book receipts for August? 2. How much is the unadjusted book disbursements for August? 3. How much is the adjusted book receipts for August? 4. How much is the adjusted book disbursements for August? 5. How much is the adjusted cash balance as of August 31, 2022? B. Show the four column proof of cash as of August 31, 2022. C. Show the correct bank reconciliation, in good form, on August 31, 2022. Your audit senior instructed you to prepare a four column proof of cash receipts and disbursementsfor the month of August, 2022.The bank reconciliation prepared by Franc Company at July 31 is reproduced below: (All bookadjustments were recorded in August).Bank balanceAdd deposit in transit, July 31TotalLess outstanding checks:No. 436450451454Adjusted balanceDateJuly 31August 1August 6August 9P2001,8001,400600August 12August 15August 20August 27P52,000August 29August 31August 3190052,900Kapuso BankAccount Name: Franc CompanyDebits1,8001,400600140 DM1,000700Book balanceAdd:1,440Proceeds of note4,000P48,900 Adjusted balance100 EC440 SV300 DMreceivable collected bybank in JulyP48,900Upon inquiry about the client's August 31 bank reconciliation, you were informed that it has been lostand that the client is too busy at this time to prepare another. Your senior told you to get the Augustbank statement and paid checks and to prepare the August 31 reconciliation so that you maycomplete the August proof of cash.The August bank statement is reproduced below:Deposit made in bank onJuly 31 not recorded inbooks until AugustTotalLess bank service chargeCredits90010,00014014,000100 ECP40,0001,820SV-Service Charges; DM-Debit Memo; EC-Error Corrected; CM-Credit Memo8,0001,00049,000100 The paid checks accompanying this bank statement (all clearing in August) were (checks listed inorder of payment by bank).No. 450451454P1,800 No. 4554561,400600P1,000 No. 458459700P1,4401,820The check register revealed that the last check issued in August was no. 460 for P1,000 and thatcheck no. 457 was for P2,400.Cash received for the period August 21 through 31 of P9,400 was deposited in the bank onSeptember 1.The debit memo on August 12 and August 31 were customer NSF checks returned by the bank. Thecheck on August 12 was immediately redeposited without entry. The check returned on August 31was redeposited by the client in the bank on September 1 without entry.

Accepted Answer

The bank reconciliation of Franc Company on July 31 is given to us. The data for the month ending…