The Avatar Corporation engaged your services to audit its account. In your examination of cash, you find that the Cash account represents both cash on hand and cash in bank. You further noted that there is very poor internal control of cash.

Your audit covers period ended June 30, 2016. You started the audit on June 15. Upon cash count on this date, cash on hand amounted to P4,800. Examination or the cash book and other evidence of transaction disclosed the following:

1. July collections per duplicate receipts, P18,800

2. Total of duplicate deposit slips, all dated, July, P11,000, includes a deposit representing collections of June 30.

3. Cash book balance at June 30, 2016 is P46,500, representing both cash on hand and Cash in bank.

4. Bank statement for June shows a balance of P42, 400.

5. Outstanding checks at June 30: May checks, No 183 for P450, and No. 198 for P1,650; June checks, No. 205 for P600 No. 254 for P400, No. 280 for P5,000, No. 302 for P900, and No 317 for P2,500.

6. Undeposited collections at June 30, P5,000.

7. An amount of P900 representing proceeds of clean draft on a customer was credited by bank, but ls not yet taken up in the company's books.

8. Bank service charges for June, P100.

The company cashier presented to you the following reconciliation statement for June, 2016 which he has prepared:

Balance per books, June 30, 2016

Add: outstanding checks:

P46,500

No. 205

P 600

254

400

280

500

302

700

317

1, 500

3,600

Total

P49, 200

Bank charges

(100)

Undeposited collections

( 5 ,100)

Balance per bank, June 30, 2016

44, 000

Questions:

1. What is the amount of outstanding checks at June 30, 2016?

2. What is the amount of cash shortage at June 30, 2016?

3. What is the amount of cash shortage from July 1 to July 15, 2016?

4. What is the total cash shortage up to July 15, 2016?

5. What is the adjusted cash balance at June 30, 2016?