The December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand 1,000,000 Petty cash fund Security Bank current account 40,000 2,000,000 PNB Current account No. 1 800,000 ( 100,000) 6,000,000 PNB Current account No. 2 BSP Treasury bill - 60 days BPI time deposit - 30 days 4,000,000 • The cash on hand includes a customer post-dated check of P200,000 and postal money order of P80,000. The petty cash fund includes unreplenished petty cash vouchers for P4,000 and an employee check for P6,000 dated January 31,2021. • A check for P400,000 was drawn against Security Bank account, dated January 15,2021, delivered to the payee and recorded December 31,2020. The BPI time deposit is set aside for acquisition of land to be used as a factory site. 4. What amount of cash and cash equivalents should be reported in statement of financial position on December 31,2020?

The December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand 1,000,000 Petty cash fund Security Bank current account 40,000 2,000,000 PNB Current account No. 1 800,000 ( 100,000) 6,000,000 PNB Current account No. 2 BSP Treasury bill - 60 days BPI time deposit - 30 days 4,000,000 • The cash on hand includes a customer post-dated check of P200,000 and postal money order of P80,000. The petty cash fund includes unreplenished petty cash vouchers for P4,000 and an employee check for P6,000 dated January 31,2021. • A check for P400,000 was drawn against Security Bank account, dated January 15,2021, delivered to the payee and recorded December 31,2020. The BPI time deposit is set aside for acquisition of land to be used as a factory site. 4. What amount of cash and cash equivalents should be reported in statement of financial position on December 31,2020?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The December 31,2020 trial balance of DDD Company includes the followingaccounts:Cash on hand 1,000,000Petty cash fund 40,000Security Bank current account 2,000,000PNB Current account No. 1 800,000PNB Current account No. 2 ( 100,000)BSP Treasury bill – 60 days 6,000,000BPI time deposit – 30 days 4,000,000 The cash on hand includes a customer post-dated check of P200,000 andpostal money order of P80,000.  The petty cash fund includes unreplenished petty cash vouchers for P4,000and an employee check for P6,000 dated January 31,2021.  A check for P400,000 was drawn against Security Bank account, datedJanuary 15,2021, delivered to the payee and recorded December 31,2020.  The BPI time deposit is set aside for acquisition of land to be used as afactory site.4. What amount of cash and cash equivalents should be reported in statement of financial position on December 31,2020?
The December 31,2020 trial balance of DDD Company includes the followingaccounts: Cash on hand 1,000,000 Petty cash fund 40,000 Security Bank current account 2,000,000 PNB Current account No. 1 800,000 PNB Current account No. 2 ( 100,000) BSP Treasury bill – 60 days 6,000,000 BPI time deposit – 30 days 4,000,000 The cash on hand includes a customer post-dated check of P200,000 andpostal money order of P80,000. The petty cash fund includes unreplenished petty cash vouchers for P4,000and an employee check for P6,000 dated January 31,2021. ● A check for P400,000 was drawn against Security Bank account, datedJanuary 15,2021, delivered to the payee and recorded December 31,2020. ● The BPI time deposit is set aside for acquisition of land to be used asafactory site. What amount of cash and cash equivalents should be reported in statementof financial position on December 31,2020?
The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following accounts: Cash on hand P 500,000 Petty cash fund 20,000 Security bank current account 1,000,000 Metrobank current account #1 400,000 Metrobank current account #2 ( 50,000) BSP treasury bill – 60 days 3,000,000 BPI time deposit - 30 days 2,000,000 • The cash on hand includes a customer postdated check of P100,000 and postal money order of P40,000. • The petty cash fund includes unreplenished petty cash vouchers for P2,000 and an employee check for P3,000 dated January 31,2020. • A check for P200,000 was drawn against Security bank account, dated January 15,2020, delivered to the payee and recorded December 31,2019. The BPI time deposit is set aside for acquisition of land to be used as a factory site. The correct amount of “cash” to be reported in the statement of financial position on December31,2019 is _________.
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you were provided with the December 31, 2023 balance of the cash and cash equivalents account for Burberry Company and your review revealed the following compositions: Change fund P30,000Petty cash fund (P3,000 expense vouchers, P2,000 employee IOU) 20,000Cash in bank 8,000,000 Cash on hand (included a check amounting to P150,000. payable to Burberry dated January 1, 2024 and two checks amounting to P100,000 and P100,000 payable to Burberry dated November 30, 2023 and April 30, 2023, respectively) 550,000Treasury bills - 45 days 500,000 Pension fund…
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On December 31, 2021, Erika Company reported "cash account" balance per ledger of P3,600.000 which included the following: Demand deposit Time deposit-30 days 1,500,000 500,000 20,000 1,000,000 50,000 30,000 400,000 10,000 NSF check of customer Money market placement due on June 30, 2022 Saving deposit IOU from employee Pension fund Petty cash fund Customer check dated January 31, 2022 Customer check outstanding for 18 months 60,000 30,000 3.600.000 • A check of P100,000 in payment of accounts payable was dated and recorded on December 31, 2021 but mailed to creditors on January 15, 2022. • Check of P50,000 dated January 31, 2022 in payment of accounts payable was recorded and mailed December 31, 2021. The entity uses the calendar year. The cash receipts journal was held open until January 15, 2022, during which time P200,000 was collected and recorded on December 31, 2021. What total amount should be reported as "cash and cash equivalents" on December 31, 2021?
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