what is the amount of cash receipts per books in december? *
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you are given the following data in connection with your audit of the cancer company: balance per bank statement, november 30, 3,600,000; deposit in transit, 800,000; outstanding checks, 1,200,000; bank credit recorded in error, 200,000; data per bank statement for the month of december follow: december deposits, including note collected of p1,000,000 for cancer, 5,500,000; december disbursements, including nsf customer check of p350,000 and service charge p50,000,4,400,000. all items that were outstanding on november 30 cleared through the bank in december including the bank credit. in addition, checks amounting to p500,000 were outstanding and deposits of p700,000 were in transit on december 31. what is the amount of cash receipts per books in december? *
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- The following selected data were taken from the bank statement and cash records of Taehyung V for the months of November and December 2020. December receipts recorded in the books amounted to P482,750 and checks written during the same period were P405,500. November bank service charges of P2,000 were recorded in the books in December. A debit memo for a customer’s NSF check for P5,800 is included in the December bank statement. Outstanding checks at November 30 and December 31 were P63,000 and P75,500, respectively. How much is the unadjusted cash disbursements per bank statement during the month of December?Chris company: balance per bank statement, november 30, 3,600,000; deposit in transit, 800,000; outstanding checks, 1,200,000; bank credit recorded in error, 200,000; data per bank statement for the month of december follow: december deposits, including note collected of p1,000,000 for cancer, 5,500,000; december disbursements, including nsf customer check of p350,000 and service charge p50,000,4,400,000. all items that were outstanding on november 30 cleared through the bank in december including the bank credit. in addition, checks amounting to p500,000 were outstanding and deposits of p700,000 were in transit on december 31. what is the amount of cash receipts per books in december? *Given the following information, prepare a bank reconciliation and the related journal entries required for month-end close. Bank Statement showed a balance of 4,453. Trial Balance showed a balance of $4,758 Deposit in Transits totaled $300 Bank service charges noted were $75 Outstanding Checks totaled $500 NSF of $400 A check that was written for supplies in the amount of $990 was recorded for $960.
- During the audit of Sunset Building Supply, you are given the following year-end bank reconciliation prepared by the client: Balance per 12/31 bank statment: $48,734 Add: Deposits in transit: $4,467 $53,201 Less: Checks Outstanding $20,758 Balance Per Ledger, 12/31 $32,443 According to the client’s accounting records, checks totaling $31,482 were issued between January 1 and January 14 of the following year. You have obtained a cutoff bank statement dated January 14 containing paid checks amounting to $50,440. Of the checks outstanding at December 31, checks totaling $3,600 were not returned in the cutoff statement, and of those issued per the accounting records in January, checks totaling $8,200 were not returned. Prepare a working paper comparing (1) the total of all checks returned by the bank or still outstanding with (2) the total per the client’s records of checks…During the audit of Sunset Building Supply, you are given the following year-end bank reconciliation prepared by the client: Balance per 12/31 bank statment: $48,734 Add: Deposits in transit: $4,467 $53,201 Less: Checks Outstanding $20,758 Balance Per Ledger, 12/31 $32,443 According to the client’s accounting records, checks totaling $31,482 were issued between January 1 and January 14 of the following year. You have obtained a cutoff bank statement dated January 14 containing paid checks amounting to $50,440. Of the checks outstanding at December 31, checks totaling $3,600 were not returned in the cutoff statement, and of those issued per the accounting records in January, checks totaling $8,200 were not returned. Suggest four possible explanations for the situation disclosed in your working paper. State what action you would take in each case, including any adjusting entry…Assume that you have audited accounts receivable as of 12/31/2020 and are confident that the ending balance should be $7,188,000. Further, you know that the audited balance as of 12/31/2019 was $8,462,000. You also verified cash deposits from customers through a review of the bank account. Based on that review you believe that cash receipts from customers ranges from an amount of $40,000,000 to $41,000,000. Which amount below would represent an overstatement of revenue for the year ending 12/31/2020, based on the facts above? 1. $38,500,000 2. $41,000,000 3. $39,762,000 4. $39,100,000
- Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,937 debit balance and its bank statement shows $15,527 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,119. b. The June 30 bank statement lists a $25 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,513 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-13 Adjusting entries from bank reconciliation LO P3 Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is required for a…Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $17,551 debit balance and its bank statement shows $15,799 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,223. b. The June 30 bank statement lists a $100 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698. d. The June 30 cash receipts of $2,884 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. Bank statement balance Add: DEL GATO CLINIC Bank Reconciliation June 30 Book…Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $16,473 debit balance and its bank statement shows $15,762 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,180. b. The June 30 bank statement lists a $70 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $498. d. The June 30 cash receipts of $2,830 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. Bank statement balance Add: Deduct: Adjusted bank balance DEL GATO CLINIC Bank…
- Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $15,804 debit balance and its bank statement shows $15,859 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,407. b. The June 30 bank statement lists a $45 bank service charge. c. Check No.919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,316 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Book balance…Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $11,447 debit balance and its bank statement shows $11,898 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,633. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,171 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Deduct: Adjusted bank balance $ DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: 0 0 Deduct: 0 0 Adjusted…The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June.
