Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?

Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019, and $26,850 at December 31, 2019. Net income for 2019 was $125,300 and sales revenue was $1,240,000. Required: Compute the amount of cash collected from customers using the direct method.
Rudolf Company had the following items in its "Cash and cash equivalents" account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund including P2,550 unreplenished vouchers dated 10,000 December 27-30, 2022; and P1,200 dated January 4, 2023. Cash in foreign bank - unrestricted ($5,000; average rate - P50; closing rate P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank - to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
On December 31, 2020, the cash account of Minerva Company has a debit balance of P906,000. An analysis if the cash account shows the following details: Undeposited collections 20,000 Cash in bank - PCIBchecking account 150,000 Cash in bank - PNB (overdraft) -12,000 Undeposited NSFcheck received from a customer, dated December 1, 2020 3,000 Undeposited check from a customer, dated January 15, 2021 7,000 Cash in bank - PCIB(fund for payroll) 40,000 Cash in bank - PCIB(savings deposit) 25,000 Cash in bank - PCIB(money market instrument, 90 days) 500,000 Cash in foreign bank (restricted) 25,000 IOUS from officers 8,000 Sinking fund cash 110,000 Listed stock held as temporary investment 30,000 Total 906,000 Cash and cash equivalents on Minerva's December 31, 2020 statement of financial position should be
The December 31, 2023, cash and cash equivalents of Calamba Co. includes the following items: P Cash on hand Petty cash fund 50,000 20,000 Security Bank account PNB Current account No.1 PNB Current account No.2 BSP treasury bill - 60 days BPI time deposit - 30 days 1,250,000 1,450,000 (25,000) 3,500,000 1,000,000 Other information: a. The cash on hand includes a customer postdated check of P5,000, NSF customer check of P10,000 and GCash of P5,000. b. The petty cash fund includes unreplenished petty cash vouchers for P3,000 and an employee check for P5,000 dated January 5, 2024. c. A check for P250,000 was drawn against Security Bank account dated January 5, 2024, delivered to the payee and recorded December 31, 2023. d. The BPI time deposit is set aside for acquisition of land to be used as factory site. Compute the following: 1. Cash on hand 2. Petty cash fund 3. Security Bank current account 4. Cash and cash equivalents
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of C Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
On December 31, 2022, the cash account of AA Company shows the following composition: Petty cash fund, P180,000; Cash in bank (payroll fund). P2,000,000, Interest and dividend fund, P250,000; Tax fund, P120,000; Cash in bank (current account). P3,000,000; Certificate of deposit (terms 90 days), P1,000,000; Certificate of deposit (terms 180 days). P1.500,000; Cash in foreign bank-restricted, P500.000; Money market fund, (60 days), P500,000; Money market funds (6 months), P900,000; Customer's check dated February 15, 2021, P60,000: Customer's check dated December 30, 2020 returned for lack of funds, P40,000: A 30-day BSP treasury bill, P1,000,000; A 3-year BSP treasury bill acquired three months prior to maturity, P1 200,000; Sinking fund cash, P800,000,Contingent fund, P900,000 Fund for the acquisition of fixed asset, P500,000, Travelers checks, P60,000, and Cashiers' checks, What is the correct cash and cash equivalents balance to be reported by AA Company on P100,000. December…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
AA Company had the following items in its "Cash and cash equivalents account as of December 31, 2022: Cash on hand P150,000 Petty cash fund- including P5,500 unreplenished vouchers dated December 29, 2022-P3,000 December 30, 2022-P1,000 and P1,500 dated January 2, 2023. 15,050 Cash in foreign bank- unrestricted ($12,500; average rate - P50, closing rate-P52) 625,000 Cash restricted for additions to plant (to be disbursed in 2025) 900,000 Bank time deposit lacquired 12/25/2022, due in 2/1/2023) 250,000 Cash in bank- to be used for payment of 2023 dividends 870,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
On December 31, 2019, Taehyung Company had the following cash balances: Cash in bank- P2,500,000 Petty Cash fund (all funds were reimbursed on 12/31/2019)- P150,000 Time deposit (start date: December 1, 2019 and due February 14, 2020)- P350,000 Cash in bank included P900,000 of compensating balance against short-term borrowing arrangement on December 31, 2019. The compensating balance is legally restricted as to withdrawal. In the December 31, 2019, statement of financial position, what total amount should be reported as cash and cash equivalents?
The statement of financial position of VKS Company dated October 31,2021, shows cash of P2,177,870. The following items were found to comprise this amount: Cash in Bank1, (outstanding checks as of year-end totaled P50,200)-P290,320; Petty cash fund (including expense receipts of P2,500)-P15,000; Undeposited sales receipts -P47,200; Sinking fund cash – P500,000; Cash surrender value of life insurance policy –P800,000; Cash in foreign bank (in equivalent pesos) - P250,000; Cash travel advances in the hands of sales personnel-P25,000; Customer’s check on hand: Traveler’s check – P14,450; Customer’s check dated November 3, 2021- P7,400; Manager’s check- P8,500; 120-day BSP Treasury bills- P120,000; 90 day, BSP treasury bills – P100,000. What is VKS's correct amount of cash and cash equivalents on October 31, 2021?

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bartleby, a Learneo, Inc. business

Cash on hand	P125,000
Bank time deposit (acquired 12/30/2022; due in 2/28/2023)	150,000
Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023.	10,000
Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52)	250,000
Cash restricted for additions to plant (to be disbursed in 2025)	1,200,000
Cash in bank – to be used for payment of 2023 dividends and taxes	1,380,000