The auditor of VISTAH Company gathered the following information: 1. The November 30 bank statement balance included bank service charges of P4,000. 2. The November 30 cash balance in the general ledger was P489,000. Outstanding checks on November 30 were P126,000 while undeposited receipts were P72,000. The bank service charges as shown on the bank statement totaled P6,000.. The December 31 cash balance in the general ledger was P639,500, which recognized P965,500 for December receipts and P811,000 for checks written during December. In transit to the bank were receipts of P57,500. Checks of P30,000 written prior to December and checks of P121,000 written in December had not yet cleared the bank. Based on the above and the result of your audit, determine the following: •The total book disbursements for December. •The November 30 bank balance •The bank balance of December 31

The auditor of VISTAH Company gathered the following information: 1. The November 30 bank statement balance included bank service charges of P4,000. 2. The November 30 cash balance in the general ledger was P489,000. Outstanding checks on November 30 were P126,000 while undeposited receipts were P72,000. The bank service charges as shown on the bank statement totaled P6,000.. The December 31 cash balance in the general ledger was P639,500, which recognized P965,500 for December receipts and P811,000 for checks written during December. In transit to the bank were receipts of P57,500. Checks of P30,000 written prior to December and checks of P121,000 written in December had not yet cleared the bank. Based on the above and the result of your audit, determine the following: •The total book disbursements for December. •The November 30 bank balance •The bank balance of December 31

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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