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    Problem 1 - Chavie Company

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    Beatrice Teh
    The document contains 10 problems providing details of various companies' cash and cash equivalents accounts. It includes line items like cash on hand, bank accounts, treasury bills, petty cash funds, undeposited collections and various adjustments. The problems require calculating cash and cash equivalents balances and identifying any over or understatements.

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    © All Rights Reserved
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    Problem 1 - Chavie Company

    Uploaded by

    Beatrice Teh
    25 views7 pages
    The document contains 10 problems providing details of various companies' cash and cash equivalents accounts. It includes line items like cash on hand, bank accounts, treasury bills, petty cash funds, undeposited collections and various adjustments. The problems require calculating cash and cash equivalents balances and identifying any over or understatements.

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    Naniii?

    Original Title

    Naniii

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    The document contains 10 problems providing details of various companies' cash and cash equivalents accounts. It includes line items like cash on hand, bank accounts, treasury bills, petty cash funds, undeposited collections and various adjustments. The problems require calculating cash and cash equivalents balances and identifying any over or understatements.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    25 views7 pages

    Problem 1 - Chavie Company

    Uploaded by

    Beatrice Teh
    The document contains 10 problems providing details of various companies' cash and cash equivalents accounts. It includes line items like cash on hand, bank accounts, treasury bills, petty cash funds, undeposited collections and various adjustments. The problems require calculating cash and cash equivalents balances and identifying any over or understatements.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 7

    Problem 1 - Chavie Company

    Cash on Hand 400,000.00


    Petty Cash on Hand 18,000.00
    Security Bank Current Account 1,200,000.00
    PNB Current Account, net 350,000.00
    BSP Treasury Bills - 60 Days 3,000,000.00
    Two month treasury bonds 500,000.00
    Cash and Cash Equivalents 5,468,000.00

    Problem 2 - Jan Company

    Undeposited Collections 60,000.00


    Cash in Bank - PCIB Checking 500,000.00
    Cash in Bank - PCIB Payroll 150,000.00
    Cash in Bank - PCIB Savings 100,000.00
    Cash in Bank - PCIB Money Market 2,000,000.00
    Cash and Cash Equivalents 2,810,000.00

    Problem 3 - Mato Corporation

    Current Account at PNB 65,000.00


    Treasury Bills - 3 months 200,000.00
    Payroll Account 175,000.00
    Traveler's Check 60,000.00
    Money Order 10,000.00
    Undelivered Check 30,000.00
    Petty Cash Fund 4,000.00
    Cash and Cash Equivalents 544,000.00

    Advances to employee 10,000.00


    Cash 10,000.00

    Problem 4 - Pacatang Company

    Commercial Savings Account 1,000,000.00


    Commercial Checking Account 900,000.00
    Money Market Fund 600,000.00
    Petty Cash Fund 5,000.00
    Currency and Coins 5,300.00
    Cash and Cash Equivalents 2,510,300.00
    Problem 5 - Ivie Company

    Customers' check dated 12/25/2017 25,000.00


    Company's check dated 12/26/2017 30,000.00
    Customers' check for AR 196,000.00
    Metrobank Checking Account 210,000.00
    RCBC Checking Account 100,000.00
    Company's check dated 01/03/2018 50,000.00
    Treasury Bills - 90 days 100,000.00
    Change Fund 10,000.00
    Customer's Certified Check 20,000.00
    Cash and Cash Equivalents 741,000.00

    Adjusting entry for number 3


    Cash 196,000.00
    Sales Discount 4,000.00
    Accounts Receivable 200,000.00

    Adjusting entry for number 10


    Cash 50,000.00
    Accounts Payable 50,000.00

    Adjusting entry for number 17


    No adjustment

    Adjusting entry for number 16


    No adjustment

    Problem 6 - Aninon Company

    Checking account at Second Bank 3,500,000.00


    Payroll account 500,000.00
    VAT account 400,000.00
    Traveler's check 300,000.00
    Petty Cash Fund 20,000.00
    Money Order 180,000.00
    Unrestricted Cash 4,900,000.00

    Problem 7 - Grancho Company

    Treasury bills, purchased 2 months before maturity 2,000,000.00


    Cash 3,400,000.00
    Money market placements, purchased 3 months before maturity 1,500,000.00
    Cash and Cash Equivalents 6,900,000.00

    Problem 8 - Delmo Company

    Total Acccountability of the PCF 10,000.00

    Currency and Coins 3,260.00


    Vouchers - Office supplies 3,460.00
    Vouchers - Postage stamps 2,240.00
    Vouchers - Representation 840.00
    Total Cash Accounted For 9,800.00

    Petty Cash Shortage (200.00)

    Operating Expenses 6,540.00


    Due from Custodian 200.00
    Cash in Bank 6,740.00

    Problem 9 - Adlawan Corporation

    Total Cash Accounted For

    Bills and Coins


    P 500 - 2 1,000.00
    P 100 - 8 800.00
    P 50 - 12 600.00
    P 20 - 5 100.00
    P 5 - 11 55.00
    P 1 - 24 24.00
    P 0.25 - 282 70.50
    P 0.10 - 515 51.50
    P 0.05 - 580 29.00 2,730.00

    Checks
    Vivian 6,000.00
    Mary Jane 4,000.00 10,000.00

    IOUs
    Yap, Janitor 500.00
    Felix, Clerk 750.00
    Ablay, Bookkeeper 500.00 1,750.00
    Vouchers
    Advances to employees 1,000.00
    Supplies 545.00
    Freight-in 982.50
    Supplies 300.00
    Repairs 2,950.00
    Miscellaneous Expense 554.00 6,331.50

    Total Accountabilities

    Petty Cash Fund Balance 20,000.00


    Undeposited Receipts 1,000.00
    Unclaimed Salaries 780.00

    Petty Cash Shortage

    Bills and Coins 2,730.00


    Checks 10,000.00
    12,730.00
    Less: Undeposited Receipts (1,000.00)
    Less: Unclaimed Salaries (780.00)
    Adjusted Balance of the Petty Cash Fund 10,950.00

    Problem 10 - Juliet Company

    Total Cash Accounted For

    Bills and Coins


    P 500 - 10 5,000.00
    P 100 - 15 1,500.00
    P 50 - 18 900.00
    P 20 - 15 300.00
    P 10 - 5 50.00
    P5 180.00
    P1 42.00
    P 0.25 23.00 7,995.00

    IOUs
    Nap R. 750.00
    Ruel R. 125.00
    Sonny S. 500.00 1,375.00
    Checks
    Manager 1,125.00
    Employee 500.00
    Customer 350.00
    Employee 1,250.00 3,225.00

    Vouchers
    Transportation 515.00
    Token gifts 650.00
    Freight 215.00
    Freight 125.00
    Freight 575.00 2,080.00

    Total Accountabilities

    Petty Cash Fund Balance 10,000.00

    Unclaimed Payroll
    Ed. A 1,250.00
    Andoy 1,750.00
    Macky 650.00
    Paz 1,000.00 4,650.00

    Undeposited Sales
    Dec. 30 350.00
    Jan. 3 500.00 850.00

    Petty Cash Shortage

    Petty Cash Balance 10,000.00


    Less: Shortage (825.00)
    Less: IOUs (1,375.00)
    Less: Vouchers (1,380.00)
    Adjusted Petty Cash Balance 6,420.00

    Unclaimed Payroll as of December 31 4,650.00


    December 30 Cash Sales 350.00
    Understatement of Cash 5,000.00
    20,811.50

    21,780.00

    (968.50)
    14,675.00

    15,500.00

    (825.00)

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