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Auditing Report Writtennnnnnn

The auditing report focuses on the substantive tests of cash for Harold Company, specifically detailing the proof of cash from unadjusted to adjusted balances. It includes financial data such as canceled checks, cash receipts, and checks written, along with computations for balance per book receipts and disbursements. The report requires the preparation of a proof of cash for December using the adjusted balance method.

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Coke Aidenry Saludo
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45 views3 pages

Auditing Report Writtennnnnnn

The auditing report focuses on the substantive tests of cash for Harold Company, specifically detailing the proof of cash from unadjusted to adjusted balances. It includes financial data such as canceled checks, cash receipts, and checks written, along with computations for balance per book receipts and disbursements. The report requires the preparation of a proof of cash for December using the adjusted balance method.

Uploaded by

Coke Aidenry Saludo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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AUDITING REPORT:

SALUDO, COKE AIDENRY E.

CHAPTER 9
“SUBSTANTIVE TESTS OF CASH”
(Case 11)

INSERT VIDEO LINK YT

Case 11: PROOF OF CASH: UNADJUSTED TO ADJUSTED BALANCES


The following data are assembled by the accountant of HAROLD COMPANY:

*Redeposited in the same month. No entries made to take up the return and
redeposit.

The bank statement and the company’s cash records show the following totals:
CANCELED CHECKS AND DEBIT MEMOS PER BANK STATEMENT
₱545,932.50
CASH RECEIPTS PER CASH BOOK 411,592.50
CHECKS WRITTEN PER CASH BOOK 529,792.50
DEPOSITS AND CREDIT MEMOS PER BANK STATEMENT 622,770.00

REQUIRED:
PREPARE A PROOF OF CASH FOR THE MONTH OF DECEMBER USING THE
ADJUSTED BALANCE METHOD FOR HAROLD COMPANY.

Computation of BALANCE PER BOOK RECEIPTS:


CASH RECEIPTS PER CASH BOOK ₱411,592.50
ADD: NOTES COLLECTED BY BANK IN NOVEMBER 179,537.50
TOTAL BOOK RECEIPTS IN DECEMBER ₱ 591,130.00
Computation of BALANCE PER BOOK DISBURSEMENTS:
CHECKS WRITTEN PER CASH BOOK ₱529,792.50
ADD: BANK SERVICE CHARGE IN NOVEMBER 1,800.00
TOTAL BOOK DISBURSEMENTS IN DECEMBER ₱531,592.50

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