CASH AND CASH EQUIVALENTS

Islander Company provided the following information with the respect to the cash and cash equivalents
on December 31, 2019.

Checking account at XYZ Bank (200,000)

Checking account at ABC Bank 3,500,000
Treasury bonds 1,000,000
Payroll account 500,000
Value added tax account 400,000

Foreign bank account - unrestricted (in equivalent pesos) 2,000,000

Postage stamps 50,000
Employee's postdated check 300,000
IOU from president 750,000
Traveler's check 300,000
NSF customer check 150,000
Petty cash fund - comprising P20,000 in currency and expenses
receipts for P30,000 50,000
Money order 180,000

1. What amount should be reported as unrestricted cash on December 31, 2019?

Yasmin Company provided the following information on December 31, 2019:

Petty cash fund 50,000.00

Current account - AA Bank 4,000,000.00
Current account - BB Bank (250,000)
Money market placement 1,000,000.00
Time deposit 2,000,000.00

 The petty cash fund included unreplenished December 2019 petty cash expense vouchers for
P15, 000 and an employee check for P5,000 dated January 31, 2020.
 A check for P100,000 was drawn against AA bank current account dated and record December
29, 2019 but delivered to payee on January 15, 2020.
 The time deposit is set aside for land acquisition in early January 2020

2. What total amount should be reported as cash and cash equivalents on December 31, 2019?
Timex Company reported petty cash fund which comprised the following:

Coins and currency 3,300

Paid vouchers:
Transportation 600
Gasoline 400
Office supplies 500
Postage Stamps 300
Due from employees 1,200 3,000

Manager's check returned by bank marked "NSF" 1,000

Check drawn by the entity to the order of petty cash
custodian 2,700

3. What is the correct amount of petty cash fund for statement presentation purposes?

Everlast Company reported the following information at the current year-end:

 Investment securities of P1,000,000. These securities are share investments in entities that are
traded in the Philippine Stock Exchange. As a result, the shares are very actively traded in the
market.
 Investment in securities of P2,000,000. These securities are government treasury bills. The
treasury bills have 10-year term and purchased on December 31 at which time they had two
months to go until they mature.
 Cash of P3,400,000 in the form of coin, currency, saving account and checking account
 Investment securities of P1,500,000. These securities are commercial papers. The term of the
paper are nine months and they were purchased on December 31 at which time they had three
months to go until they mature.

4. What total amount should be reported as cash and cash equivalents at the current year-end?