3DD Corporation engaged your service to audit its account. In your examination of cash, you find that the Cash account represents both cash on hand and cash in bank. You further noted that there is very poor internal control over cash. Your audit covers the period ended December 31, 2017. You made a cash account on January 15, 2018, and cash on hand in this date was determined to be P52,000. Examination of cashbooks and other evidences of transaction disclosed the following: a. January 1 through 15, 2018 collections per duplicate receipts, P199,000. b. Total duplicate deposit slips, all dated January 2 through 15, P110,000, includes a deposit representing collections of December 31 c. Cash book balance on December 31, 2017 is P465,000, representing both cash on hand and cash in bank. d. Bank statement for December shows a balance of P424,000. e. Outstanding checks at December 31: Number 183 4,500 Number 254 4,000 Number 198 12,500 Number 280 52,000 Number 252 6,000 Number 301 9,000 Number 254 4,000 Number 319 25,000 f. Undeposited collections at December 31, P48,000. g. An amount of P19,000 representing proceeds of a customers note was credited by bank, but is not yet taken up in the companys books h. Bank service charge for December, P1,500. The company cashier presented to you the following reconciliation statement at December 2017, which he prepared: Balancer per books, December 31, 2017 456,000 Add: outstanding checks Number 252 6,000 254 4,000 280 25,000 301 900 319 15,000 50,900 Total 506,900 Bank service charges (1,500) Undeposited collections (51,000) Balance per bank 454,400 Questions: Based on the above and result of the audit, determine the following: Adjusted balance of Cash account as of December 31, 2017. Amount of cash shortage as of December 31, 2017. The net adjustment to cash account for 2017. The cashier attempted to conceal his theft by Note: Input the letter of the correct answer. Use CAPITAL LETTER ONLY I Not listing all outstanding checks. II Underfooting outstanding check shown on the reconciliation. III Adding an item to the bank balance that should be deducted from the book balance. IV Understating the book balance in the reconciliation. V Understating the bank balance in the reconciliation. VI Omission of the credit memo VII Overstating the undeposited collection VIII Understating each outstanding checks A. I, II, III, IV, V, VI, VII, C. I, II, IV, V, VI, VII B. I, II, IV, VI, VII, VIII D. I, II, III, IV, V, VI, VII, VIII The amount of additional shortage in January 2018.