auditing transaction

Problem 5. Your audit senior instructed you to prepare a four column proof of cash receipts and disbursements for the month of December 2018. The bank reconciliation prepared by Charter Company at November 30 is reproduced below: Unadjusted. bank balance P 69,000 Unadjusted. book balance P 66.000 Add: Deposit in transit 11,000 Add: CM for note collected 8 800 Total P80,000 Total P 74.800 Less: Outstanding checks: Less: Bank service charge 1.800 No. 143 P1,000 144 1.500 145 2,000 146 2.500 7,000 Adjusted balance P73,000 P73,000 The bank statement, which has a beginning balance of P69,000, is reproduced below: April Bank Account Name: CHARTER Company Date Debits Credits 1-Dec P 1,000 P 11,000 4-Dec 25,000 10,000 5-Dec 3,000 CM 1 6-Dec 2,000 20,000 8-Dec 10,000 DM 1 5.000 9-Dec 2,500 40.000 17-Dec 30,000 7,000 19-Dec 40,000 DM 2 20-Dec 500 E 500 EC 26-Dec 40.000 31-Dec 2 000 DM3 35,000 CM 2 P113,000 P171.500 Legend DM 1 Customer's DAIF check DM 2 Customer's DAIF check DM 3 Service charges CM 1 Account collected by the bank CM 2 Note collected by the bank E Error SC Error Correction The debit memo on December 8 and December 19 were customer NSF checks returned by the bank. The check on December 19 was redeposited on December 26 without entry. The company made a journal entry when the check returned on December 8 was received. This check was redeposited by the client in the bank on January 3 without entry. The company's cash receipts and cash disbursements journals for the month Of December 2018 are provided below: Cash Receipts Journal Cash Disbursements Journal Date OR No. Amount Date Check No. Amount Dec. 03 555 P 10.000 Dec. 03 147 P 25.000 556 20,000 15 148 30.000 557 5,000 30 149 800 558 40.000 31 150 12.000 18 559 7,000 30 560 18,000 31 561 200 P102.000 P75.000 The company's Cash in Bank Ledger appears below: Cash in Bank Balance P 66,000 P10.000 12/31/2018 GL (DM 1) 12/1/2018 GJ (CM) 8,800 75,000 12/31/2018 CDJ 12/8/2018 GJ (CM 1) 3.000 12/31/2018 CRJ 102,000 Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: 16. How much is the outstanding checks as of December 31, 2018? 17. How much is the adjusted book receipts for December, 2018? 18. How much is the adjusted book disbursements for December, 2018? 19. How much is the adjusted cash balance as of December 31, 20187 20. How much is the cash shortage as of December 31, 2018