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    Cash and Cash Equivalents: Prepared by Erin Julia Balanag

    Uploaded by

    Angela Mae Balanon Rafanan
    The document discusses cash and cash equivalent balances for several companies. It provides details of cash on hand, checks receivable and payable, petty cash funds, and short-term investment balances as of specific dates that contribute to the total cash and cash equivalents to be reported on the companies' financial statements.

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    © All Rights Reserved
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    Cash and Cash Equivalents: Prepared by Erin Julia Balanag

    Uploaded by

    Angela Mae Balanon Rafanan
    174 views10 pages
    The document discusses cash and cash equivalent balances for several companies. It provides details of cash on hand, checks receivable and payable, petty cash funds, and short-term investment balances as of specific dates that contribute to the total cash and cash equivalents to be reported on the companies' financial statements.

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    The document discusses cash and cash equivalent balances for several companies. It provides details of cash on hand, checks receivable and payable, petty cash funds, and short-term investment balances as of specific dates that contribute to the total cash and cash equivalents to be reported on the companies' financial statements.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    174 views10 pages

    Cash and Cash Equivalents: Prepared by Erin Julia Balanag

    Uploaded by

    Angela Mae Balanon Rafanan
    The document discusses cash and cash equivalent balances for several companies. It provides details of cash on hand, checks receivable and payable, petty cash funds, and short-term investment balances as of specific dates that contribute to the total cash and cash equivalents to be reported on the companies' financial statements.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    Cash and Cash

    Equivalents
    SLIDESMANIA

    Prepared by Erin Julia Balanag


    The following were taken from the records of SML Co. as of December 31,20x1:

    Check drawn but not yet issued to payees P 120,000

    Customer’s checks dated January 15,20x2 35,000

    Customer’s check dated December 31,20x1 40,000

    SML’s Check dated Jan. 15, 20x2 already mailed to payee 16,000

    Cash on Hand 130,000

    Employees’ checks representing unclaimed salaries, 14,000

    held by treasurer

    Petty cash fund (fully replenished) 20,000


    SLIDESMANIA
    How much of the items listed will be included in SML’s Dec. 31,20x1 cash?

    Check drawn but not yet issued to payees ₱ 120,000

    Customer’s check dated December 31,20x1 40,000

    SML’s Check dated Jan. 15, 20x2 already mailed to payee 16,000

    Cash on Hand 130,000

    Employees’ checks representing unclaimed salaries, held by treasurer 14,000

    Petty cash fund (fully replenished) 20,000

    Total of Items listed under Cash ₱ 340,000


    SLIDESMANIA
    Zorba Co. had the following balances at December 31, 20x2:

    Cash in checking amount 350,000

    Cash in money-market account 250,000

    Treasury bill, purchased 12/1/x2, maturing 2/28/x3 800,000

    Treasury bond, purchased 3/1/x2, maturing 2/28/x3 500,000


    SLIDESMANIA
    What amount should Zorba Co. report as cash and cash equivalents in Dec. 31,20x2
    statement of financil position?

    Cash in checking amount 350,000

    Cash in money-market account 250,000

    Treasury bill, purchased 12/1/x2, maturing 2/28/x3 800,000

    Total Cash and Cash equivalents 1,400,000


    SLIDESMANIA
    Jackson Company had the following cash balances at December 31, 20x2:

    Cash in banks P 375,000

    Petty cash fund (all in bills and coins) 5,000

    Cash in banks includes P125,000 of compensating balances against short-

    term borrowing arrangements at December 31, 2002. The compensating

    balances are legally restricted as to withdrawal by Jackson. In the current asset

    section of Jackson’s December 31, 2002, balance sheet.


    SLIDESMANIA
    What total amount should be reported as Cash?

    Cash in banks ( 375,000 – 125,000 ) ₱ 250,000

    Petty cash fund (all in bills and coins) 5,000

    Total Cash ₱ 255,000


    SLIDESMANIA
    The December 31, 2017 trial balance of Agee Company includes the following accounts:

    Petty cash fund 70,000

    Current account - Metro Bank 4,000,000

    Current account - BPI (overdraft) (250,000)

    120-day Money market placement – RCBC 1,000,000

    Time deposit- PNBRCBC 2,000,000

    Additional information:

    ● The petty cash fund includes unreplenished December 2017 petty cash expense vouchers for P15,000 and an

    employee check for P5,000 dated January 31, 2018.

    ● A check for P100,000 was drawn against Metro Bank current account dated and recorded December 27, 2017 but

    delivered to payee on January 10 2018. REVERTED BACK PO MAAM


    SLIDESMANIA

    ● The PNB time deposit is set aside for land acquisition in early January 2018
    What total amount should be reported as Cash?

    Petty cash fund (70,000 – 15,000-5,000) 50,000

    Current account - Metro Bank (4,000,000 + 100,000) 4,100,000

    Total Cash ₱ 4,150,000


    SLIDESMANIA
    Thank you!
    SLIDESMANIA

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