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Problem 05 Mary Jane is the cashier of Adlawan Corporation. As representative of the Zarate and Associates, CPAs, you were assigned to verify her cash on hand in the morning of January 3, 2017. You began to count at 9:00 AM in the presence of Mary Jane. In the course of your counting, you found currencies in paper bills and coins together with checks, vouchers, and other items, which are mentioned below: Bills: (2) P500; (8) P100; (12) P50; (5) P20 Coins: P 5.00 11 loose 1.00 24 loose 0.25 5 rolls and 32 loose (50 pieces to a roll) 0.10 10 rolls and 15 loose (50 pieces to a roll) 0.05 14 rolls and 20 loose (40 pieces to a roll) Checks: Date Maker Payee Amount 12/22/06 Vivian, Asst. Mgr Adlawan Corp. P 6,000 12/26/06 Mary Jane, cashier Adlawan Corp. 4,000 IOUS: Date Maker Amount 12/20/16 Yap, Janitor P 500 12/22/16 Felix, clerk 750 12/24/16 Ablay, bookkeeper 500 Petty Cash Voucher for Replenishment: Date Payee Accounts Charged Amount 12/16/16 Wagan, messenger Advances to employees P1,000.00 12/17/16 Maren and Co. Supplies 545.00 12/18/16 Eeman Liner Freight in 982.50 12/18/16 Posts Office Supplies 300.00 12/20/16 Alejandre, carpenter Repairs 2,950.00 12/21/16 Violan Miscellaneous expense 554.00 Your investigation also disclosed the following: a. The balance of petty cash fund per books is P20,000.00. b. Cash sale of January 2, 2017 amounted to P8,650 per sales records, while cash receipts book and bank deposit slip showed that only P7,650 was deposited in the bank on January 3, 2017 . The following employees' pay envelopes had been opened and the money removed. Each envelope was marked "Unclaimed" - Ernesto, P332.50; Secinando, P447.50. Questions: Based on the above and the result of your audit, answer the following: 44) The petty cash shortage of ADLAWAN CORPORATION at December 31, 2016 is: A. 2,748.50 B. 1,748.50 C. 968.50 D. 188.50 45) The adjusted petty cash balance of ADLAWAN CORPORATION at December 31, 2016 is: A. 10,950 B. 11,950 C. 11,730 D. 12,730 46) The undeposited sales/collection of ADLAWAN CORPORATION at December 31, 2016 is: A. 8,650 B. 7,650 C. 1,000 0