The following cash items are presented by Bahamas Company

Credit line (PNB) 500,000

Bounced check from customers 10,000
Undeposited coins and currencies 20,000
Time deposit - restricted for current use 500,000
Money market funds 750,000
BPI - Checking Account No. 54321 400,000
Amount segregated to pay creditors 300,000
Account earmarked for construction of building 2,000,000

How much should Bahamas Company report as Cash in its

December 29, 2019 statement of Financial Position?

a. 720,000
b. 1,220,000
c. 2,690,000
d. 2,710,000
a. 436,500
b. 404,500
c. 554,500
d. 589,000
a. 6,000
b. 9,000
c. 7,000
d. 10,000
What amount of cash and cash equivalents should
Agenda Company report in its December 31, 3020
statement of financial position?

a. 2,909,000
b. 2,869,000
c. 2,874,000
d. 2,882,000
Western Company reported a total cash and cash equivalent of P 6,325,000 on December 31, 2020, which includes the followi

1. Two certificates of deposits, each totalling P500,000. These certificates of deposit

have maturity of 120 days
2. A check that is dated January 12, 2021 in the amount of P125,000
3. A commercial paper of P2,100,000 which is due in 120 days
4. Currency and coins on hand amounted to P7,700

Western Company has agreed to maintain a cash balance

of P500,000 in one of its banks at all times and is not available
for withdrawal and to ensure future credit availability
(this amount was included in the above balance)

How much is the correct amount of cash and cash equivalents

that Western Company should report in its December 31, 2020
statement of financial position?

a. 2,600,000
b. 3,100,000
c. 5,200,000
d. 6,200,000
20, which includes the following:
-
-
-
-
-
-
-
What is the correct balance of cash in bank at December 31, 2019? _________________
What is the correct balance of petty cash fund at December 31, 2019? _________________
How much is the petty cash shortage (overage)? __________________
What is the total cash to be reported in the statement of financial position at December 31, 2
What is the total cash equivalents to be reported in the statement of financial position at Dec

Use the following Account titles

Accounts Payable
Accounts Receivable
Cash in Bank
Expenses
Petty Cash Fund
Advances to Employees
Cash Short or Over

What is the adjusting entry for Check No. 123456 as 12/31/2019?

Dr xxxx
Cr xxx
What is the adjusting entry for Check No. 501901 as 12/31/2019?
Dr xxx
Cr xxx
What is the adjusting entry for Check No. 501930 as 12/31/2019?
Dr xxx
Cr xxx
What is the adjusting entry for Unreplenished Petty Cash Vouchers at 12/31/2019?
Dr xxx
Cr xxx
What is the adjusting entry for Vale Slips at 12/31/2019?
Dr xxx
Cr xxx
What is the adjusting entry for petty cash fund shortage (overage) 12/31/2019?
Dr xxx
Cr xxx
19? _________________
2019? _________________

ial position at December 31, 2019? __________________

ent of financial position at December 31, 2019? __________________

ers at 12/31/2019?

ge) 12/31/2019?
 BANK 30-Nov December Receipts December Disbursements 30-Dec
Unadjusted Bank Balance 3,780,000 4,180,000 2,160,000 5,800,000
OC - November -360,000 -360,000
OC - December 1,184,000 -1,184,000
DIT - November 160,000 -160,000
DIT - December 996,000 996,000
DEBIT ERROR - November 80,000 -80,000
DEBIT ERROR - December -100,000 100,000
Adjusted Bank Balance 3,660,000 4,936,000 2,884,000 5,712,000
Prepare a four-column reconciliation using the adjusted balance method.
(Enclose figures in parentheses to note subtraction. Put appropriate comma in typing figures. Put "0" when not applicable.)
. Put "0" when not applicable.)
 BOOK 30-Nov December Receipts December Disbursements 30-Dec
Unadjusted Book Balance 4,064,000 5,136,000 2,880,000 6,320,000
BSC - November -4,000 -4,000
BSC - December 8,000 -8,000
NR - November -400,000 400,000
NR - December -600,000 -600,000
Adjusted Bank Balance 3,660,000 4,936,000 2,884,000 5,712,000