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(Solved) From AUDIT PROBLEM: Please answer this question. This question


From AUDIT PROBLEM: Please answer this question. This question was created from https://www.coursehero.com/file/12415851/AUDIT-PROBLEM/. urther analysis re?ected the following: A check for P90,000 received from a customer had been deposited and then returned by tl n December 26, 2008. No entry was made for the returned check. The customer replaced th: n January 15, 2009. Among the checks returned with the bank statement is a check issued by the company in p f accounts payable for P90,600 but was recorded in the books as P108,600 and a check is: hinna Ltd. for P72,000 incorrectly charged by bank. Postdated checks totaling P134,600 were included in the deposits in transit. These re ollections of accounts receivable from customers. The checks were actually deposited on jar 009. Various bank debit memos for drafts purchased for payment of importation of computers 460,000 were not yet recorded. These purchases were previously set up as accounts payabl: omputers arrived in December 2008. Included in the outstanding checks are checks in payment of accounts payable for P230,000. hecks were prepared and recorded in December 2008, but not released until January 10, 2009. :tions: Nhat is the adjusted balance of Petty Cash Fund as of December 31, 2008? P 70,000 b. P 38,366 c. P 31,634 d. P 24,250 sing the adjusted balance method in preparing bank reconciliation statement, how much is djustment to the balance per bank? P 532,000 b. P 436,600 c. P 208,260 d. P 112,860 sing the adjusted balance method in preparing bank reconciliation statement, how much is djustment to the balance per books? P 532,000 b. P 436,600 c. P 208,260 d. P 112,860 Ihat is the adjusted balance of Cash in Bank as of December 31, 2008? P 1,638,420 b. P 1,314,680 c. P 1,201,820 d. P 1,106,420 n auditor should trace bank transfers for the last part of the audit period and ?rst part ubsequent period to detect whether

 


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