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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 Check No. 4329 P 6.000 15.000 1,700 Check No. 4340 27,375 P 407,625 16,200 P 423,825 Check No. 4341 4,675 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Payable P 10,000 4,200 3,755 12,000 96,000 6,300 14,200 7,000 10,000 98,000 San Beda, Inc. 3 Dec. P 9,500 4,200 3,755 11,880 4342 4343 500 Miriam Corporation UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. New Era Company UST, Inc. 7 4344 120 4345 4346 4347 4348 96,000 6,300 14,058 7,000 10,000 98.000 P 260,693 18 142 21 4349 22 Petty cash fund 28 Payroll Total 4350 4351 P 261,455 762 BANK STATEMENT BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 No.: 001-43-44 Page 1 of 1 Credit Balance Description Balance last statement Cash deposit Check issued Check issued Check issued Check deposit Check issued Check deposit Date Check No. Debit P 435,000 451,200 436,200 426,700 422,025 471.025 466,825 Dec. P 16,200 P 15,000 9,500 4,675 4329 4342 4341 4 4 49,000 4343 4,200 14,000 480,825 477,070 381,070 371,070 8. 3,755 10 Check issued 15 Encashment 4344 4346 4350 4351 96,000 10,000 98,000 22 Encashment 273,070 272,070 28 Encashment 1,000 29 Debit memo - BSC 29 Credit memo - interest 1,550 273,620 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 20202 15. What is the total outstanding checks on December 31, 2020? 16. What is the adjusted cash balance on November 30, 20202 31 20202

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 Check No. 4329 P 6.000 15.000 1,700 Check No. 4340 27,375 P 407,625 16,200 P 423,825 Check No. 4341 4,675 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Payable P 10,000 4,200 3,755 12,000 96,000 6,300 14,200 7,000 10,000 98,000 San Beda, Inc. 3 Dec. P 9,500 4,200 3,755 11,880 4342 4343 500 Miriam Corporation UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. New Era Company UST, Inc. 7 4344 120 4345 4346 4347 4348 96,000 6,300 14,058 7,000 10,000 98.000 P 260,693 18 142 21 4349 22 Petty cash fund 28 Payroll Total 4350 4351 P 261,455 762 BANK STATEMENT BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 No.: 001-43-44 Page 1 of 1 Credit Balance Description Balance last statement Cash deposit Check issued Check issued Check issued Check deposit Check issued Check deposit Date Check No. Debit P 435,000 451,200 436,200 426,700 422,025 471.025 466,825 Dec. P 16,200 P 15,000 9,500 4,675 4329 4342 4341 4 4 49,000 4343 4,200 14,000 480,825 477,070 381,070 371,070 8. 3,755 10 Check issued 15 Encashment 4344 4346 4350 4351 96,000 10,000 98,000 22 Encashment 273,070 272,070 28 Encashment 1,000 29 Debit memo - BSC 29 Credit memo - interest 1,550 273,620 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 20202 15. What is the total outstanding checks on December 31, 2020? 16. What is the adjusted cash balance on November 30, 20202 31 20202

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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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 Check No. 4329 Check No. 4340 P 6,000 15,000 1,700 4,675 27,375 P 407,625 16,200 P 423,825 Check No. 4341 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Payable P 10,000 4,200 3,755 12,000 96,000 San Beda, Inc. Miriam Corporation Dec. P 9,500 4,200 3,755 11,880 4342 4343 500 3 UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. 18 New Era Company UST, Inc. 22 Petty cash fund 28 Payroll 7 4344 4345 4346 120 96,000 6,300 14,058 7.000 10,000 98.000 P 260,693 4347 4348 6,300 14,200 7,000 10,000 98,000 142 21 4349 4350 4351 Total P 261,455 P 762 BANK STATEMENT BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 Page 1 of 1 No.: 001-43-44 Description Balance last statement Cash deposit Check issued Check issued Date Check No. Debit Credit Balance P 435,000 451,200 436,200 426,700 422,025 471,025 Dec. P 16,200 P 15,000 9,500 4,675 4329 4342 4341 4 Check issued Check deposit 6 Check issued 8 4 49,000 466,825 480,825 477,070 4343 4,200 14,000 Check deposit 10 Check issued 15 Encashment 3,755 96,000 10,000 98,000 4344 381,070 371,070 273,070 272,070 273,620 4346 22 Encashment 4350 4351 28 Encashment 29 Debit memo - BSC 29 Credit memo - interest 1,000 1,550 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 2020? 15. What is the total outstanding checks 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, 20207
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 Check No. 4329 Check No. 4340 P 6,000 15,000 1,700 4,675 27,375 P 407,625 16,200 P 423,825 Check No. 4341 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Payable P 10,000 4,200 3,755 12,000 96,000 San Beda, Inc. Miriam Corporation Dec. P 9,500 4,200 3,755 11,880 4342 4343 500 3 UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. 18 New Era Company UST, Inc. 22 Petty cash fund 28 Payroll 7 4344 4345 4346 120 96,000 6,300 14,058 7.000 10,000 98.000 P 260,693 4347 4348 6,300 14,200 7,000 10,000 98,000 142 21 4349 4350 4351 Total P 261,455 P 762 BANK STATEMENT BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 Page 1 of 1 No.: 001-43-44 Description Balance last statement Cash deposit Check issued Check issued Date Check No. Debit Credit Balance P 435,000 451,200 436,200 426,700 422,025 471,025 Dec. P 16,200 P 15,000 9,500 4,675 4329 4342 4341 4 Check issued Check deposit 6 Check issued 8 4 49,000 466,825 480,825 477,070 4343 4,200 14,000 Check deposit 10 Check issued 15 Encashment 3,755 96,000 10,000 98,000 4344 381,070 371,070 273,070 272,070 273,620 4346 22 Encashment 4350 4351 28 Encashment 29 Debit memo - BSC 29 Credit memo - interest 1,000 1,550 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 2020? 15. What is the total outstanding checks 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, 20207
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