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Based on the audit findings, answer the following: 1. What is the unadjusted book receipts in december? 2. What is the unadjusted book disbursements in december?  - need answer for this question 3. what is the correct cash balance as of november 30?

Based on the audit findings, answer the following: 1. What is the unadjusted book receipts in december? 2. What is the unadjusted book disbursements in december?  - need answer for this question 3. what is the correct cash balance as of november 30?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 16CE
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Based on the audit findings, answer the following:

1. What is the unadjusted book receipts in december?

2. What is the unadjusted book disbursements in december?  - need answer for this question

3. what is the correct cash balance as of november 30?

4. what is the unadjusted cash balance per books as of december 31?  - need answer for this question

5. what is the correct cash balance as of december 31? - need answer for this question

 

Problem 06 - Proof of Cash In the course of our audit of Bente Corporation's cash in bank for the year ended December 31, 2021, you ascertained the following information: November 30 December 31 Cash per book Cash per bank Undeposited checks Outstanding checks Bank service charges Insufficient fund check Company's notes receivable collected by bank ? 60,350 535,410 41,005 689,085 64,400 150,560 3,000 41,250 138,590 3,600 359,075 404,500 The bank statement and the company's records show the following totals: Cash disbursements per bank statement Cash receipts per cash records Cash disbursements per cash records Cash receipts per bank statement 1,091,865 1,245,540 Additional information: • The insufficient fund check was redeposited in the same month. No entries are made to take up the returm and redeposit. A P50,000 bank charge error in November was corrected by the bank in December, while a P20,000 deposit of House-boy Corporation was erroneously credited by the bank of the company's account in December. AP19,000 disbursement check was recorded in November as P91,000. The error was discovered and corrected in December. A P20,000 customer collection was recorded in the books in December as P200,000, the error was detected and corrected in December.
Transcribed Image Text:Problem 06 - Proof of Cash In the course of our audit of Bente Corporation's cash in bank for the year ended December 31, 2021, you ascertained the following information: November 30 December 31 Cash per book Cash per bank Undeposited checks Outstanding checks Bank service charges Insufficient fund check Company's notes receivable collected by bank ? 60,350 535,410 41,005 689,085 64,400 150,560 3,000 41,250 138,590 3,600 359,075 404,500 The bank statement and the company's records show the following totals: Cash disbursements per bank statement Cash receipts per cash records Cash disbursements per cash records Cash receipts per bank statement 1,091,865 1,245,540 Additional information: • The insufficient fund check was redeposited in the same month. No entries are made to take up the returm and redeposit. A P50,000 bank charge error in November was corrected by the bank in December, while a P20,000 deposit of House-boy Corporation was erroneously credited by the bank of the company's account in December. AP19,000 disbursement check was recorded in November as P91,000. The error was discovered and corrected in December. A P20,000 customer collection was recorded in the books in December as P200,000, the error was detected and corrected in December.
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