1-7.

1
PCF 30,000
Less: (Dec 2018)
Expenses 16,250
Cash advance to an employee 3,500 19,750
Adjusted PCF 10,250

1-7.2
0 because theres is no shortage
on PCF on Dec 2018

1-7.3
Balance per book 748,320 Balance per Bank
Add: Add:
Unrecorded check 3,500 Bank Error (7,520 - 5,720)
Interest earned 1,950 5,450 DT (136,250 - 67,300)
Total 753,770 Total
Less: Less:
NSF check 22,500 OC
Post dated check 67,300 Ajusted Bank Balance
Bank Service Charge 1,260
Other DM 230,000 321,060
Adjusted Book Balance 432,710

1-7.4
AR
NSF check 22,500
Post dated check 67,300
89,800
1-7.5
CB-Tsunami Bank 432,710
PCF 10,250
Time Deposit 1,000,000
MMP 4,000,000
Cash and cash equivalent 5,442,960

1-8.1
Currency 1,650
PCV
Postage 420
Office Supplies 900
Transportation 340
Comp Repair 800
Advances to office staff 1,500 3,960
Replenishment Check 7,200
NSF check 1,000
Total PCF 13,810
Less: imprest PCF 16,000
PCF (shortage) (2,190)

1-8.2
Currency 1,650
Replenishmnet Check 7,200
Adjusted PCF 8,850

1-9.1
Petty Cash Custodian
1-9.2
C.
1-9.3
C.
PCF balance 3,200
PCV
Office supplies expense 3,460
Postage expense 2,240
Entertainment 840 6,540
Total PCF 9,740
Less: Imprest PCF 10,000
PCF (shortage) (260)
1-9.4
D
1-9.5
C.

1-29.1
Total Check Issued, Dec 377,632
Bank service charge 36
Total Book Disbursement, Dec 377,668
1-29.2
Balance per Book, Nov 30 15,698
Book receipts for Dec 371,766
Total 387,464
Less: Book Disbursemnet, Dec 377,668
Balance per Book, Dec 31 9,796
1-29.3
OC No. 3480 440
OC No. 3418 2,814
OC No. 3419 5,788
Total OC, Dec 31 9,042
1-29.4
Balance per bank 24,298
Add: DT 3,648
Total 27,946
Less: OC
No. 3408 440
No. 3413 30
No.3414 6,820
No. 3416 3,924 11,214
Adjusted Balance per Bank, Nov 30 16,732
1.29.5
Balance per Book Receipts 371,766
Add: CM
N/R collection , Dec 4,000
Adjusted Book Receipts, Dec 375,766
1.29.6
Balance per Book Disbursement 377,668
Less: DM
Bank service charge
Nov 36
Dec (42) (6)
Adjusted Book Disbursement 377,674
1-29.7
Balance per Book 9,796
Add: CM
Overstated Check No.3413 270
Mutilated Check No. 3417 800
N/R collection , Dec 4,000 5,070
Total 14,866
Less: DM
Bank service charge Dec 42
Adjusted Balance per Book, Dec 31 14,824
1-29.8
A.

2-3.
A/R 505,000
Add:
GG - Erronoues Credit 10,000
II Company 40,000 50,000
Total 555,000
Less:
AA - CM issued on Jan 2019 23,000
CC - Damaged Merchandise 40,000
DD - Billed twice 10,000
FF - Not Recorded 31,000
HH - Credit Error 10,000 114,000
Adjusted A/R 441,000

2-5.1
Purchased 450,000
Less: Ending INV 123,000
COGS 327,000
Sales Ratio 130%
Total Sales 425,100
Less: Collection 150,000
A/R, End 275,100
2-5.2
NRV of A/R 895,000
Add: Wriien Off 35,000
A/R, Dec 930,000
2-5.3
A/R 460,000
Less: Uncollectible 95,000
NRV, Dec 31 365,000
2-5.4
Net Sales 2018 2,600,000
COGS 2018 1,900,000
A/R 2019 470,000
A/R 2018 230,000

Ingrid Company
1
A/R, Jan 1,800,000
Add:
Sales 15,000,000
Recovery account 30,000 15,030,000
Total 16,830,000
Less:
Collection 13,080,000
Accounts written Off 150,000
Accounts Settled 600,000 13,830,000
A/R, Dec 31 3,000,000
2
Allowance credit loss, Jan 1 ( Cr) 90,000
Add: Recovery account 30,000
Total 120,000
Less: Acconts written off 150,000
Allowance credit loss, Dec 31 (Dr) (30,000)
3
A/R, Dec 31 3,000,000
Less: A/R, Dec 31 past due 900,000
Adjusted A/R Dec 31 2,100,000

Current Account
(2,100,000 x 5%) 105,000
Past due
(900,000 x 20%) 180,000
Required Allowance for Credit loss 285,000
4
Allowance Credit loss 30,000
Required Allowance for Credit loss 285,000
Increase 315,000
5. B

2-12.1
A/R Dec 31, 2018 33,000
Add: Collection
2016 162,800
2017 177,200
2018 227,600 567,600
Total 600,600
Less: A/R Jan 1, 2016 16,600
Credit Sales 584,000
Add: Cash Sales
2016 17,000
2017 26,000
2018 31,200 74,200
Sales Revenue for 3 yrs period 658,200
2-12.2
Cash Sales 26,000
Add: Collection 177,200
Total 203,200
2-12.3
A/P Dec 31, 2018 11,000
Add: Cash Disbursement
2016 125,000
2017 141,200
2018 173,800 440,000
Total 451,000
Less: A/P Jan 1, 2016 5,000
Purchases for 3 yrs period 446,000
2-12.4
Sales 658,200
Less: COS
Inv, Jan 1, 2016 11,600
 Add: Purchases 446,000
GAFS 457,600
Less: Inv, Dec 31, 2018 18,800 438,800
GP 219,400

GP% 33.33%
2-12.5
2016 2017 2018
Cash Sales 17,000 26,000 31,200
Cash Collection 162,800 177,200 227,600
Total Sales 179,800 203,200 258,800
GP% 33.33% 33.33% 33.33%
GP 59,927.34 67,726.56 86,258.04
 638,340

1,800
68,950 70,750
709,090

276,380
432,710