Solve 8-13. Show solution and the proof of cash.
4:21 6. The following data pertains to MANILA Company on December 31, 2020: Banks statement balance P5, 000, 000 Checkbook balance 5, 600, 000 Deposit in transit 2, 000, 000 Outstanding checks, including P100, 000 a check dated Dec. 31, 2020 but undelivered to payee 500, 000 In MANILA's December 31, 2020 statement of financial position, cash should be reported at: 7. ALBAY Company's "cash count" as of December 31, 2020 is composed of the following: Demand Deposit P2, 000, 000 Time Deposit - 30 days 1, 000, 000 NSF Check of customer 40, 000 Money market placement (due June 30, 2021) 1, 500, 000 Savings Deposit in a closed bank 100, 000 IOU from employee 20, 000 Pension Fund 3, 000, 000 Petty Cash Fund 10, 000 Customer's Check dated January 1, 2021 50, 000 Customer's Check dated outstanding for 18 months 40, 000 Total P7, 760, 000 Additional information: a. Check of P200, 000 in payment of accounts payable was recorded on December 31, 2020 bu' suppliers on January 5, 2021. . Check of P100, 000 dated January 15, 2021 in payment of accounts payable was recorded an 2/4 December 31, 2020. c. The company uses the calendar year. The Cash Receipt Journal was held open until January 15, 2021, during which time P400, 000 was collected and recorded on December 31, 2020. The Cash and Cash Equivalents to be ember 31, 2020 statement of financial position is: The following information was obtained in connection with the audit of CAVITE Co.'s cash count as of 12/31/2020. Outstanding check, 11/30/2020 P 16, 250 Outstanding check, 12/31/2020 12, 500 Deposits in transit, 11/30/2020 12, 500 Cash balance per general ledger 12/31/2020 37, 500 Actual company collections from its customers during December 152, 500 Company checks paid by bank in December 130, 000 Bank service charges recorded on company books in December 2, 500 Bank service charges per December bank statement 3, 250 Deposits credited by bank during December 145, 000 November bank service charges recorded on company's books in December 1, 500 2|PAGE CASH & CASH EQUIVALENTS The cash receipts book of December is underfooted by P2, 500. The bank erroneously charged the company's account for a P3, 750 check of another depositor. This bank error was corrected in January 2021. 8. Refer to CAVITE Co. What is the deposit in transit on December 31, 2020? 9. Refer to CAVITE Co. How much is the unrecorded service charges as of December 31, 2020? 10. Refer to CAVITE Co. What is the total book receipts in December 31, 2020? 11. Refer to CAVITE Co. What is the total Company's checks issued in December 31, 2020? 12. Refer to CAVITE Co. What is the total book disbursements in December 31, 2020? 13. Refer to CAVITE Co. What is the book balance in November 30, 2020? The following bank reconciliation statement has been prepared for ABRA Company by a junior clerk: Overdraft per bank statement P 68, 100 Add: Deposits not credited 141. 200 P209, 300 Less: Outstanding checks 41, 800 Overdraft per cash book P167, 500 14. Which of the following should be the correct balance per cash book? 20201207_163737.png You 4 days ago Ask another question while you wait. X At Ask Expert Tutors O
