3. How much is the total payment of purchases during the year?4. How much is the total cash disbursements during the year?5. How much is the cash accountability at 12/31/2020?6. What is adjusted balance of cash at 12/31/2020? Computation of Cash Accountability and Bank ReconciliationThe Bonbon Company was organized on January 3, 2020 with a share capital fully paid up of P 5,000,000. AtDecember 31, 2020, the general ledger of said company showed the following accounts and balances:2,150,000800,0001,200,000350,000850,000620,000Merchandise InventoryLandBuildingFurniture and FixturesDelivery EquipmentAccounts Receivable - tradeAccounts Payable - tradeNotes Payable - tradeNotes Payable - PNBMortgage Payable - DBP340,000500,000200,000500,0001,855,000680,00046,00027,00046,644SalesSalariesTaxes and LicensesInsuranceRepairs and MaintenanceYour examination of the bank statement for December 31, 2020 disclosed the following information:Bank balance, December 31, 2020403,756Bank ChargesChecks not returned by the bank:October 16, 2020 – Check No. 1784October 23, 2020 – Check No. 1829850November 4, 2020 – Check No. 1971November 17, 2020 – Check No. 1978December 7, 2020 – Check No. 2319December 11, 2020 – Check No. 23467,87512,0008,72511,0506,5001,350Your examination revealed the following information: Cash received on December 31, 2020 was deposited onJanuary 2, 2021 amounted to P 62,500. The cost of merchandise sold was 65% of sale.

3. Total payment of purchases during the year: Sales during the year 18,55,000 (×) Cost % 65%…

ind Bank Reconciliation The Bonbon Company was organized on January 3, 2020 with a share capital fully paid up of P 5,000,000. At December 31, 2020, the general ledger of said company showed the following accounts and balances: ountabili Merchandise Inventory 2,150,000 800,000 1,200,000 350,000 850,000 620,000 340,000 500,000 200,000 500,000 1,855,000 680,000 46,000 27,000 46,644 Land Building Furniture and Fixtures Delivery Equipment Accounts Receivable - trade Accounts Payable - trade Notes Payable - trade Notes Payable - PNB Mortgage Payable - DBP Sales Salaries Taxes and Licenses Insurance Repairs and Maintenance Your examination of the bank statement for December 31, 2020 disclosed the following information: Bank balance, December 31, 2020 403,756 Bank Charnes 850

ind Bank Reconciliation The Bonbon Company was organized on January 3, 2020 with a share capital fully paid up of P 5,000,000. At December 31, 2020, the general ledger of said company showed the following accounts and balances: ountabili Merchandise Inventory 2,150,000 800,000 1,200,000 350,000 850,000 620,000 340,000 500,000 200,000 500,000 1,855,000 680,000 46,000 27,000 46,644 Land Building Furniture and Fixtures Delivery Equipment Accounts Receivable - trade Accounts Payable - trade Notes Payable - trade Notes Payable - PNB Mortgage Payable - DBP Sales Salaries Taxes and Licenses Insurance Repairs and Maintenance Your examination of the bank statement for December 31, 2020 disclosed the following information: Bank balance, December 31, 2020 403,756 Bank Charnes 850

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23A: Statement Of Cash Flows: The Direct Method

Section: Chapter Questions

Problem 3RQ

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