Answered: The following bank reconciliation is…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11MC

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Question

MC49

The following bank reconciliation is presented for the Pony Co. for the month of November, 2020:

Balance per bank statement, 11/30/2020		P180,400
Add: Deposit in transit	P41,500
Erroneous bank charge	15,500	56,500
Subtotal		P236,900
Less: Outstanding Checks		78,200
Balance per books, 11/30/2020		P158,700

Data for the month of December 2020 follow:

Per bank: December deposits/credits — P261,000

December charges/debits — P224,200

Balance, December 31, 2020 — P217,200

All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P25,000 checks were outstanding as of December 31, 2020.

What is the amount of cash disbursements per books in December 2020? (WITH SOLUTION)

a. P146,000

b. P171,000

c. P249,200

d. P249.200

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