On January 10, 2017, you started the audit of the financial records of NDDU Corporation for the year ended December 31, 2016. From your investigation, you discovered the following: 1. The bookkeeper acts also as the cashier. Her December 31, 2006 year-end cash reconciliation contained the following: Cash per ledger, 12/31/14 161.400 Cash per bank, 12/31/14 164,850 Checks outstanding 15,850 Bing Corporation check charged by bank in error 13/30/14, corrected by bank on 1/04/15 750 Deposit in transit, credit by bank on 1/3/15 7,200 2. The cash account balance per ledger as of 12/31/14 were: Cash 161,400 Petty Cash 1,500 3. The cost of the cash on hand at the close of business on January 10, 2017, including the petty cash was as follows: Currencies and coins 9,850 Expense vouchers (800) ) Employees' sou dated 1/5/15 (300) Customers' checks in payment of account 900 11.850 4. From January 2, 2017 to January 10, 2017, the date of your cash count, total cash receipts appearing in the cash record were Page 109 of 121 38.600. According to the bank statement for the period from January 3, 2017 to January 10, 2017, total deposits were P32,400. 5. On July 5, 2016, cash of P1.600 was received from a customer in settlement of his account. This was booked by a debt to Allowance for Doubtful Accounts and credit to Accounts Receivable, 6. On December 5, 2016, cash of P2,900 was recewed from a customer in settlement of his account. NDDU Corporation debited Inventory and credited Accounts Receivable. 7. Cash of P1,800 received from customer during 2006 was not recorded. 8. Checks received from customers from January 2, 2017 to January 10, 2017, totaling P4,200 were not recorded but were deposited in the bank. 9. On July 1, 2016, the bank refunded interest of P200 because a note of NDDU Corporation was paid before maturity. No entry had been made for the refund. 10. In the cashiers petty cash, there were receipts for collection from customer on January 9, 2017 totaling P1,250, these were unrecorded and undeposited. 11. In the outstanding checks, there is one for P250 made payable to a trade creditor. Investigation shows that this check had been returned by the creditor on June 14, 2006 and a new check for P1,250 was issued in its place; the original check for 2750 was made in error as to amount. Questions: 13. The adjusted bank balance as of December 31, 2016 is: 3. P 158,450 b. P 157,700 C. P 156,950 d. P 150,700 14. The correct cash balance, per ledger as of December 31, 2016 is: a. P 169,700 b. P 168,650 c. P 167,900 d. P 167,700 15. The amount of cash shortage as of December 31, 2016 is: a. P 16,500 b. P 11,250 C. P 10,950 d. P 10,200 16. The amount of cash shortage for the period from January 1, 2017 to January 10, 2017 is: a. P 4,300 b. P 7,000 c. P 8,500 d. P 15,700 On January 10, 2017, you started the audit of the financial records of NDDU Corporation for the year ended December 31, 2016. From your investigation, you discovered the following: 1. The bookkeeper acts also as the cashier. Her December 31, 2006 year-end cash reconciliation contained the following: Cash per ledger, 12/31/14 161.400 Cash per bank, 12/31/14 164,850 Checks outstanding 15,850 Bing Corporation check charged by bank in error 13/30/14, corrected by bank on 1/04/15 750 Deposit in transit, credit by bank on 1/3/15 7,200 2. The cash account balance per ledger as of 12/31/14 were: Cash 161,400 Petty Cash 1,500 3. The cost of the cash on hand at the close of business on January 10, 2017, including the petty cash was as follows: Currencies and coins 9,850 Expense vouchers (800) ) Employees' sou dated 1/5/15 (300) Customers' checks in payment of account 900 11.850 4. From January 2, 2017 to January 10, 2017, the date of your cash count, total cash receipts appearing in the cash record were Page 109 of 121 38.600. According to the bank statement for the period from January 3, 2017 to January 10, 2017, total deposits were P32,400. 5. On July 5, 2016, cash of P1.600 was received from a customer in settlement of his account. This was booked by a debt to Allowance for Doubtful Accounts and credit to Accounts Receivable, 6. On December 5, 2016, cash of P2,900 was recewed from a customer in settlement of his account. NDDU Corporation debited Inventory and credited Accounts Receivable. 7. Cash of P1,800 received from customer during 2006 was not recorded. 8. Checks received from customers from January 2, 2017 to January 10, 2017, totaling P4,200 were not recorded but were deposited in the bank. 9. On July 1, 2016, the bank refunded interest of P200 because a note of NDDU Corporation was paid before maturity. No entry had been made for the refund. 10. In the cashiers petty cash, there were receipts for collection from customer on January 9, 2017 totaling P1,250, these were unrecorded and undeposited. 11. In the outstanding checks, there is one for P250 made payable to a trade creditor. Investigation shows that this check had been returned by the creditor on June 14, 2006 and a new check for P1,250 was issued in its place; the original check for 2750 was made in error as to amount. Questions: 13. The adjusted bank balance as of December 31, 2016 is: 3. P 158,450 b. P 157,700 C. P 156,950 d. P 150,700 14. The correct cash balance, per ledger as of December 31, 2016 is: a. P 169,700 b. P 168,650 c. P 167,900 d. P 167,700 15. The amount of cash shortage as of December 31, 2016 is: a. P 16,500 b. P 11,250 C. P 10,950 d. P 10,200 16. The amount of cash shortage for the period from January 1, 2017 to January 10, 2017 is: a. P 4,300 b. P 7,000 c. P 8,500 d. P 15,700