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The following information were gathered: 1. The November 30 bank statement balance included bank service charges of P2,000. 2. The November 30 cash balance in the general ledger was P244,500. 3. Outstanding checks on November 30 were P63,000 while undeposited receipts were P36,000. 4. The bank service charges as shown on the bank statement totaled P3,000. 5. The December 31 cash balance in the general ledger was P319,750, which recognized P482,750 for December receipts and P405,500 for checks written during December. In transit to the bank were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yet cleared the bank. What is the total bank disbursements in December?

The following information were gathered: 1. The November 30 bank statement balance included bank service charges of P2,000. 2. The November 30 cash balance in the general ledger was P244,500. 3. Outstanding checks on November 30 were P63,000 while undeposited receipts were P36,000. 4. The bank service charges as shown on the bank statement totaled P3,000. 5. The December 31 cash balance in the general ledger was P319,750, which recognized P482,750 for December receipts and P405,500 for checks written during December. In transit to the bank were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yet cleared the bank. What is the total bank disbursements in December?

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments
Section: Chapter Questions
Problem 18RQSC
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The following information were gathered: 1. The November 30 bank statement balance included bank service charges of P2,000. 2. The November 30 cash balance in the general ledger was P244,500. 3. Outstanding checks on November 30 were P63,000 while undeposited receipts were P36,000. 4. The bank service charges as shown on the bank statement totaled P3,000. 5. The December 31 cash balance in the general ledger was P319,750, which recognized P482,750 for December receipts and P405,500 for checks written during December. In transit to the bank were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yet cleared the bank. What is the total bank disbursements in December?
Transcribed Image Text:The following information were gathered: 1. The November 30 bank statement balance included bank service charges of P2,000. 2. The November 30 cash balance in the general ledger was P244,500. 3. Outstanding checks on November 30 were P63,000 while undeposited receipts were P36,000. 4. The bank service charges as shown on the bank statement totaled P3,000. 5. The December 31 cash balance in the general ledger was P319,750, which recognized P482,750 for December receipts and P405,500 for checks written during December. In transit to the bank were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yet cleared the bank. What is the total bank disbursements in December?
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