Yuri Company have the following information for their financial reporting of their cash on December 31, 2020: 1. Checkbook balance is P400,000 2. Undeposited collections amounted to P20,000 3. A customer check amounting to P30,000 dated January 3, 2021 was included in the December 31, 2020 checkbook balance 4. Another customer check for P50,000 deposited on December 21, 2020 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2020 and cleared two days later. 5. A P50,000 check payable to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021. 6. A petty cash fund of P5,000 comprised of the following on December 31, 2020: Coins and currencies- P500; petty cash vouchers- P4,000: and refundable deposit for returnable containers- P500 7. A check of P4,000 was drawn on December 31, 2020 payable to Petty Cash

On December 31, 2021, the cash account of Coco Corp, showed a balance of P391,480.  The bank statement on that date showed a balance of P409,500.  Upon examining the cash records and the bank statement, the following information were determined.a. There was a bank service charge of P 1,500 for the month of December 2021.b. There was a credit memo for a note collected by the bank for oOco Corp. The customer’s note is P90,000 with interest of P2,600. The bank charged a collection fee of P550c. December 31, 2021 receipts for P289,000 were deposited only on January 2, 2022d. Checks issued which have not yet cleared the bank as at December 31,2021 amounts to P186,610e. There is a debit memo for P45,320 for a customer’s check returned marked “DAIF”f. A receipt of P90,000 had been entered as P60,000 in the cash book.  Check # 12345 issued amounting to P49,100 was erroneously recorded as P41,900 and check # 12346 issued in the correct amount of P5,820 had been taken up as P58,200.What is the…

Serato Company keeps all its cash in a checking account. An examination of the entity’s accounting records and bank statement for the month ended December 31, 2020 revealed a bank statement balance of P8,469,000 and a book balance of P8,524,000. A deposit of P950,000 placed in the bank’s night depository on December 29 does not appear on the bank statement. Checks outstanding on December 31 amount to P270, 000. The bank statement shows that on December 25, the bank collected a note for Serato Company and credited the proceeds of P935,000 to the entity’s account. The proceeds included P35,000 interest, all of which Serato Company earned during the current period. Serato Company has not yet recorded the said collection. Serato Company discovered that check number 1000759 written in December for P183,000 in payment of an account had been recorded in the…

Miller Corporation’s December 31, 2019, bank statement showed a $2,041.25 balance. On this date, Miller’s Cash account reflected a $150.90 overdraft. In reconciling these amounts, the following information is discovered:     1. Cash on hand for undeposited sales receipts, December 31, $131.25. 2. Customer NSF check returned with bank statement, $426.20. 3. Cash sales of $625.25 for the week ended December 18 were recorded on the books. The cashier reports this amount missing, and it was not deposited in the bank. 4. Note receivable of $2,400.00 and interest of $24 collected by the bank and not recorded on the books. 5. Deposit in transit December 31, $330.00. 6. A customer check for $195.40 in payment of its account was recorded on the books at $945.10. 7. Outstanding checks, $2,030.55. Includes a duplicate check of $63.85 to C. Brown, who notified Miller that the original was lost. Miller stopped payment on the original check and has already adjusted the cash account…