question archive 4) The accountant for the Karen Company assembled the following data: June 30 July 31 Cash account balance P 15,822 P 39,745 Bank statement balance 107,082 137,817 Deposits in transit 8,201 12,880 Outstanding checks 27,718 30,112 Bank service charge 72 60 Customers check deposited July 10, returned by bank on July 16 marked NSF, and redeposited immediately: no entry made on books for return or redeposit 8,250 Collection by bank of company's notes receivable 71,815 80,900 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement 218,373 Cash receipts in July per Karen's books 236,452 QUESTIONS: Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: How much is the adjusted cash balance as of June 30? How much is the adjusted bank receipts for July? How much is the adjusted book disbursements for July? How much is the adjusted cash balance as~of July 31? How much is the cash shortage as of July 31?
4) The accountant for the Karen Company assembled the following data: June 30 July 31 Cash account balance P 15,822 P 39,745 Bank statement balance 107,082 137,817 Deposits in transit 8,201 12,880 Outstanding checks 27,718 30,112 Bank service charge 72 60 Customers check deposited July 10, returned by bank on July 16 marked NSF, and redeposited immediately: no entry made on books for return or redeposit 8,250 Collection by bank of company's notes receivable 71,815 80,900 The bank statements and the company's cash records show these totals: Disbursements in July per bank statement 218,373 Cash receipts in July per Karen's books 236,452 QUESTIONS: Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following: How much is the adjusted cash balance as of June 30? How much is the adjusted bank receipts for July? How much is the adjusted book disbursements for July? How much is the adjusted cash balance as~of July 31? How much is the cash shortage as of July 31?
Subject:AccountingPrice: Bought3
4) The accountant for the Karen Company assembled the following data:
June 30 July 31
Cash account balance P 15,822 P 39,745
Bank statement balance 107,082 137,817
Deposits in transit 8,201 12,880
Outstanding checks 27,718 30,112
Bank service charge 72 60
Customers check deposited July 10,
returned by bank on July 16 marked NSF,
and redeposited immediately: no entry made
on books for return or redeposit 8,250
Collection by bank of company's notes receivable 71,815 80,900
The bank statements and the company's cash records show these totals:
Disbursements in July per bank statement 218,373
Cash receipts in July per Karen's books 236,452
QUESTIONS:
Based on the application of the necessary audit procedures and appreciation of the above data, you are to provide the answers to the following:
- How much is the adjusted cash balance as of June 30?
- How much is the adjusted bank receipts for July?
- How much is the adjusted book disbursements for July?
- How much is the adjusted cash balance as~of July 31?
- How much is the cash shortage as of July 31?
