Problem 1-10 (AICPA Adapted) ‘Tranvia Company revealed the following information on December 31, 2022: Cash in checking account 350,000 Cach in money market account 750,000 Treasury bill, purchased November 1, 2022 maturing January 31, 2023 3,500,000 Time deposit purchased December 1, 2022 maturing March 31, 2023 4,000,000 What amount should be reported as cash and cash equivalents on December 31, 2022? a. 1,100,000 b. 3,850,000 c. .4,600,000 d. 8,600,000.Problem 1-11 (IAA) At year-end, Myra Company reported cash and cash equivalents which comprised the following: Cash on hand x 500,000 Demand deposit > 4,000,000 Certificate of deposit 2,000,000 Postdated customer check 300,000 Petty cash fund 60,000 Traveler check . 200,000 Manager check 100,000 Money order 150,000 What total amount should be reported as cash at year-end? 7,000,000 . 4,800,000 6,800,000 ‘ . 5,000,000 . pepeProblem 1-13 (AICPA Adapted) Thor Company provided the following data‘on December 31, 2022: Checkbook balance 4,000,000 Bankstatement balance 5,000,000 Check drawn on Thor's account, payable to supplier, dated and recorded on December 31, 2022 but not mailed until January 31, 2023 500,000 Cash in sinking fund 2,000,000 On December 31, 2022, what amount should be reported as cash under current assets? a. 4,500,000 b. 5,500,000 &. 3,500,000 . 4 6,500,000Problem 1-14 (AICPA Adapted) On December 31, 2022, West Company had the following cash balances: Cash in bank — current account 1,800,000 Petty caoh fund —all funds were reimbursed atyear-end "60,000 250,000 ‘Time deposit -due February 1, 2023 Saving deposit in bank closed by BSP 1,000,000 Cash in bank included P600,000 of compensating balance against short term borrowing atrangement, The compensating balance is legally restricted as to withdrawal. What total amount should be reportéd as cash and cash equivalents? a. 1,500,000 b. 2,500,000 ¢. 1,250,000 d. 2,100,000Problem 1-15 (AICPA Adapted) Baloney Company had the following account balances on December 31, 2022: Cash in bank ’ 2,250,000. Cash on hand 126,000 Cash restricted for addition to plantin January 2028 1,600,000 Cash in bank ineluded P600,000 of compensating balance - against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. What total amount should be reported as cash under current assets on December 31, 2022? . 1,775,000 . 2,375,000 - 8,375,000 |. 3,975,000 BeepProblem 1-17 (IAA) On December 31, 2022, Roma Company reported cash balance of P9,950,000. Undeposited collections 600,000 Cash in bank - BDO checking account 4,000,000 Undeposited NSF check received from customer, dated December 1, 2022 150,000 ‘Undeposited check from a customer, dated January 15,2023 250,000 Cash in bank - BDO fund for payroll 1,000,000 Cash in bank — BDO time deposit, 90 days Cash in foreign bank restricted Cash in bank ~ BDO value added tax account’ Total On December 31, 2022, what total amount should be reported as cash and cash equivalents? 7,600,000 . 8,200,000 i : 6,050,000 d. 8,050,000Problem 1-18 (AICPA Adapted) Ral Company reported the checkbook balance on- December 31, 2022 at P5,000,000 and held the following items on same date: ‘Check payable to Ral, dated January 2, 2023 in payment ofa eale made in December 2022, not included in December 31 checkbook balance 2,000,000 ‘Check payable to Ral, deposited December 15 and included in December 31 checkbook balance, but returned by bank on December 30 stamped “NSF.” The check was redeposited on January 2, 2023 and cleared on January 9, 2023 500,000 Check drawn on Ral’s account, payable to a vendor, dated and recorded in Ral's books on December 31, 2022 butnot mailed until January 10, 2023 Certificate of time deposit What amount sbould be reported as eash on December 31, a. 4,800,000 b. 5,300,000 c. 6,500,000 100 00,000 1,000,000Problem 1-20 (AICPA Adapted) Campbell Company had the following account balances on December 31, 2022: Petty cash fund 50,000 Cashon hand Gash in bank ~ current account 4, Gosh in bank - payroll account t ‘Rime dopant 1,000,000 Cash in bank — restricted for plant addition 500,000 Sinking fund set aside for bond payable due June 30,2023 2,000,000 The petty cash fund included unreplenished December 2022 BS y ca2 h expense vouchers of P6,000 and employee IOU of ‘The cash on hand included a P100,000 check payable, to Campbell Company dated January 31, 2023 In exchange for a guaranteed line of credit, the entity had agreed to maintain a minimum balance of P200,000 in the unrestricted current bank account. What total amount should be reported as cash and cash equivalents on December 31, 2022? : a. 8,640,000 b. 7,640,000 ¢. 5,640,000 d. 7,440,000Problem 1-21 (AICPA Adapted) Isabel Company provided the following information on December 31, 2022: Cashonhand =~ 200,000 Security Bank current account 5,000,000 Manila Bank current account No 4,000,000 Manila Bank current account'] No ank overdraft) (500,000) BDO account for bond payable due December 31, 20: 3,000,000 United Bank saving account fr equipment ‘acquisition . 250,000 United Bank time deposit, 90 da} 2,000,000 Treasury bills 1,000,000 Check drawn ay apeinet Security Bank current account-for P100,000 dated and recorded December 23, 2022 was delivered to the payee January 15, 2023. What total amount. should be reported as‘cash and cash equivalents on December 31, 2022? 11,800,000 b. 11,700,000 ¢. 14,800,000 d. 12/050,000Problem 1-22 (ACP) Love Company reported the following information in relation to cash on December 31, 2022: Checkbook balance, 4,000,000. Undeposited collections, P400,000. A customer check amounting to P200,000 dated January 2, 2023 was included in the December 31, 2022 checkbook balance. Another customer check for P500,000 deposited on December 22, 2022 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2022 and cleared two days later. ‘A P400,000 check payable to supplier dated and recorded on Dezember 30, 2022 was mailed on January 16, 2023. A petty cash fund of P50,000 comprised the following on December 31, 2022: Coins and currencies 5,000. . Petty cash vouchers 40,000 Refuidable deposit for returnable containers 6,000 : 50,000 - A check of P40,000 was drawn on December-31, 2022 payable to Petty Cash. : . What amount should be reportéd as adjusted cash in bank on December 31, 2022? a. 4,600,000 “ What total amount should be reported as cash on December 81, 20227 : 4,645,000 . 4,845,000 4,600,000 : 4,650,000 y perpproblem 1-23 (PHILCPA Adapted) Marjorie Company established a petty cash fund of P50,000 with the following information: Coins and currency 22,000 Petty cash vouchers: Gasoline 3,000 eT supplies: 1,000 1,500 TOU from anemployee 3,500 Check drawn payable to the order of Ann Cruz, petty cash custodian, representing her salary 15,000 Cheek of an employee returned by bank marked "NSF* 3,000 Acheet of paper with the names of several employees together with a contribution for a birthday party and attached to the sheet of paper is a currency of _ 5,000 What amount of petty cash fund should be reported? a. 42,000 b. 27,000 c. 37,000 d. 22,000Problem 1-24 (PHILCPA Adapted) - Admirable Company had a petty cash fund which included the following details: Coin and curreney 2,000 Paid vouchers a Trensportaign 400 Office supplies 500 Postage stamps 300 Due from employees 1200 - 3,000 Employee's check returned by bank marked “NSF* 1,000 Check drawn to the order of of petty cash custodian 4,000 What amount of petty cash should be reported? . 2,000 7,000 6,000 9.000 peop