Case 8 - Proof of cash In the course of the audit of Onse Company's cash in bank for the year ended December 31, 2023, you ascertained the following information: The bank statement and the company's cash records show tne tollowily tritsle: Additional information: [1.] A P45,000 bank credit error in November was corrected by the bank in December, while a P22,000 check issued by Eleven Corporation was erroneously charge by the bank to the company's account in December. [2.] A P150,000 customer collection was recorded by the book in December at P155,000 upon collection, the error was detected and corrected in December. [3.] The accountant recorded a receipt in November for P90,000, the correct amount should be P70,000. The error was detected and corrected in December. [4.] The book credited a collection made in December from a customer for P20,100. The correct amount of collection is P21,000. [5.] There were no other items or errors affecting both book and bank. You also ascertained that there was no cash shortage nor overage in prior periods. Determine the following as a result of your audit: 1. What is the amount of deposit in transit for the month of December? 2. What is the unadjusted cash per book as of December? 3. What is the adjusted balance of disbursements as of December? 4. What is the adjusted cash balance per books as of November 30 ? 5. What is the correct cash balance as of December 31? Case 8 - Proof of cash In the course of the audit of Onse Company's cash in bank for the year ended December 31, 2023, you ascertained the following information: The bank statement and the company's cash records show tne tollowily tritsle: Additional information: [1.] A P45,000 bank credit error in November was corrected by the bank in December, while a P22,000 check issued by Eleven Corporation was erroneously charge by the bank to the company's account in December. [2.] A P150,000 customer collection was recorded by the book in December at P155,000 upon collection, the error was detected and corrected in December. [3.] The accountant recorded a receipt in November for P90,000, the correct amount should be P70,000. The error was detected and corrected in December. [4.] The book credited a collection made in December from a customer for P20,100. The correct amount of collection is P21,000. [5.] There were no other items or errors affecting both book and bank. You also ascertained that there was no cash shortage nor overage in prior periods. Determine the following as a result of your audit: 1. What is the amount of deposit in transit for the month of December? 2. What is the unadjusted cash per book as of December? 3. What is the adjusted balance of disbursements as of December? 4. What is the adjusted cash balance per books as of November 30 ? 5. What is the correct cash balance as of December 31