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16. What is the adjusted cash balance on November 30, 2020? 17. What is the adjusted cash balance on December 31, 2020?

16. What is the adjusted cash balance on November 30, 2020? 17. What is the adjusted cash balance on December 31, 2020?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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16. What is the adjusted cash balance on November 30, 2020?
17. What is the adjusted cash balance on December 31, 2020?

The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000 at December 31, 2020: Cuay Corporation BANK RECONCILIATION November 30, 2020 P 435,000 Balance per bank statement Less: Outstanding checks Check No. 4321 P 6,000 15,000 Check No. 4329 Check No. 4340 1,700 Check No. 4341 4,675 27,375 P 407,625 16,200 P 423,825 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Рayee Check No. Discount Cash Pаyable P 10,000 P 4,200 3,755 12,000 96,000 6,300 14,200 7,000 10,000 98,000 P 9,500 4,200 3,755 11,880 96,000 6,300 14,058 7,000 10,000 98,000 Dec. 1 San Beda, Inc. 4342 500 3 Miriam Corporation 7 4343 4344 UE Enterprises 12 PSBA Corporation 15 Pаyroll 16 BU, Inc. 18 New Era Company 21 UST, Inc. 4345 120 4346 4347 4348 142 4349 22 Petty cash fund 28 Payroll 4350 4351 Total P 261,455 762 P 260,693
Transcribed Image Text:The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000 at December 31, 2020: Cuay Corporation BANK RECONCILIATION November 30, 2020 P 435,000 Balance per bank statement Less: Outstanding checks Check No. 4321 P 6,000 15,000 Check No. 4329 Check No. 4340 1,700 Check No. 4341 4,675 27,375 P 407,625 16,200 P 423,825 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Рayee Check No. Discount Cash Pаyable P 10,000 P 4,200 3,755 12,000 96,000 6,300 14,200 7,000 10,000 98,000 P 9,500 4,200 3,755 11,880 96,000 6,300 14,058 7,000 10,000 98,000 Dec. 1 San Beda, Inc. 4342 500 3 Miriam Corporation 7 4343 4344 UE Enterprises 12 PSBA Corporation 15 Pаyroll 16 BU, Inc. 18 New Era Company 21 UST, Inc. 4345 120 4346 4347 4348 142 4349 22 Petty cash fund 28 Payroll 4350 4351 Total P 261,455 762 P 260,693
BANK STATEMENT Page 1 of 1 BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 No.: 001-43-44 Description Balance last statement Check No. Date Debit Credit Balance P 435,000 451,200 436,200 426,700 422,025 471,025 466,825 480,825 477,070 381,070 371,070 273,070 272,070 273,620 Dec. 1 Cash deposit P 16,200 1 Check issued 4 Check issued P 15,000 9,500 4,675 4329 4342 4 Check issued 4341 5 Check deposit 6 Check issued 8 Check deposit 49,000 4343 4,200 14,000 3,755 96,000 10,000 98,000 1,000 10 Check issued 4344 15 Encashment 4346 22 Encashment 4350 28 Encashment 4351 29 Debit memo - BSC 29 Credit memo - interest 1,550
Transcribed Image Text:BANK STATEMENT Page 1 of 1 BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 No.: 001-43-44 Description Balance last statement Check No. Date Debit Credit Balance P 435,000 451,200 436,200 426,700 422,025 471,025 466,825 480,825 477,070 381,070 371,070 273,070 272,070 273,620 Dec. 1 Cash deposit P 16,200 1 Check issued 4 Check issued P 15,000 9,500 4,675 4329 4342 4 Check issued 4341 5 Check deposit 6 Check issued 8 Check deposit 49,000 4343 4,200 14,000 3,755 96,000 10,000 98,000 1,000 10 Check issued 4344 15 Encashment 4346 22 Encashment 4350 28 Encashment 4351 29 Debit memo - BSC 29 Credit memo - interest 1,550
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