EXCELSIOR Companys check register shows the following entries for the month of

December:
Date
12/2015

Checks
1
5
7
11
26
29

Beginning Balance
Deposit
Check # 14344
Check # 14345
Deposit
Check # 14346

Deposits
P65,000

P32,500
14,000
49,000
8,600

Balance

P89,300
154,300
120,800
106,800
155,800
147,200

EXCELSIORs bank reconciliation for November revealed one outstanding check (No.
14343) for P12,000 (written on November 28), and one deposit in transit for P5,550
(made on November 29)
The following is from EXCELSIORs bank statement for December 2015:
Date
12/2015

Checks
1
1
4
5
14
15
20
29
31

Beginning Balance
Deposit
Check No. 14344
Deposit
Check No. 14345
Loan Proceeds
NSF check
Service charge
Interest

Deposits
P5,550

P32,500
56,000
14,000
500,000
7,600
1,000
3,600

Assume that all errors were committed by EXCELSIOR Company, not the bank.
Based on the preceding information, determine the following:
1.) Adjusted cash balance on November 30
A. P89,300
B. P95,750
C. P102,200
D. P101,300
2.) Outstanding checks on December 31

Balance
P95,750
101,300
68,800
124,800
110,800
610,800
603,200
602,200
605,800

A. P46,500
B. P45,500
C. P8,600
D. P20,600
3.) Deposit in transit on December 31
A. P52,600
B. P49,000
C. P5,550
D. P43,450
4.) Total bank receipts in December
A. P114,000
B. P119,550
C. P565,150
D. P61,550
5.) Adjusted cash balance on December 31
A. P663,800
B. P634,200
C. P748,200
D. P597,200