Months To Go Until They Mature

Not mailed until January 15,2016
Cash in sinking fund
On December 31,2015, what amount should be reported as cash under current assets?
4,500,000
5,500,000
3,500,000
6,500,000
Problem 13-4
At year-end, Myra Company reported cash and cash equivalents which comprise the following.
Cash on hand 500,000
Demand deposit 4,000,000
Certificate of deposit 2,000,000
Postdated customer check 300,000
Petty cash fund 50,000
Traveler’s check 200,000
Manager’s check 100,000
Money order 150,000
What total amount should be reported as “cash” at year-end?

a. 7,000,000
b. 4,800,000
c. 6,800,000
d. 5,000,000
Problem 13-5
Everlast Company reported the following information at the current year-end:
 Investment securities of P 1,000,000. These securities are share investments in entities that are
traded in the Philippine Stock Exchange. As a result, the shares are very actively traded in the
market.
 Investment securities of P 2,000,000. These securities are government treasury bills. The
treasury bills have a 10-year term and purchased on December 31 at which time they had two
months to go until they mature.
 Cash of P 3,400,000 in the form of coin, currency, saving account and checking account.
 Investment securities of P 1,500,000. These securities are commercial papers. The term of the
papers is nine months and they were purchased on December 31 at which time they had three
months to go until they mature.
What total amount should be reported as cash and cash equivalents at the current year-end?
a. 5,400,000
b. 6,400,000
c. 6,900,000
d. 7,900,000
Problem 13-6
Burr Company has the following account balances on December 31, 2015.
Cash on bank 2,250,000

Cash on hand 125,000
Cash restricted for addition to plant
and expected to be distributed in 2016 1,600,000
Cash on bank included P 600,000 compensating balance against short-term borrowing arrangement. The
compensating balance is not legally restricted as to withdrawal.
On December 31, 2015, what total cash should be reported under current assets?
a. 1,775,000
b. 2,250,000
c. 2,375,000
d. 3,975,000
Problem13-7
On December 31, 2015, West Company has the following balances:

Cash on bank 1,800,000
Petty cash fund – all funds were reimbursed on 12/31/15 50,000
Time deposit due February 1, 2016 250,000
Cash in bank included P600,000 of compensating balance against short-term borrowing arrangement on
December 31, 2015. The compensating balance is legally restricted as to withdrawal.
On December 31, 2015, what total amount should be reported as cash and cash equivalents?
a. 1, 850,000
b. 1,250,000
c. 2,100,000
d. 1,500,000
Problem 13-8
ABC Company reported that the cash account per ledger had a balance on December 31. 2015 of
P 4,415,000 which consisted of the following:
Petty cash fund 24,000

Undeposited receipts, including a postdated customer check for P70,000 ` 1,220,000
Cash in bank, per bank statement, with a check of P40,000 still outstanding 2,245,000
Bond sinking fund 850,000
Vouchers paid out of collections, not yet recorded 43,000
iOUs signed by employees, taken from collections 33,000
4,415,000
What amount should be reported as cash on December 31, 2015?
a. 3,379,000
b. 3,419,000
c. 3,489,000
d. 3,449,000
Problem13-9
Tawiran Company reported cash accounts which consistent of the following:
Bond sinking fund 1,500,000

Checking account in BPI (A P 320,000 check is
still outstanding per bank statement) 3,155,000
Currency and coins waiting deposit 1,135,000
Deposit in bank closed by BSP 500,000
Petty cash fund including paid vouchers 50,000
Receivables from officers and employees 175,000
6,515,000
What total amount of cash should be reported under current assets?
a. 4,440,000
b. 4,330,000
c. 4,830,000
d. 5,830,000
d. 6,800,000
Problem 13-10
Ral Company reported the checkbook balance on December 31, 2015 at P 5,000,000. In addition, the
entity held the following items on same date:
Check payable to Ral, dated January 2, 2016 in

Payment on a sale made in December 2015, not
Included in December 31 checkbook balance 2,000,000
Check payable to Ral, deposited December 15
And included in December 31 checkbook balance
but returned by bank on December 30 stamped “NSF”.
The check was deposited on January 2, 2016 and cleared
On January 9, 2016 500,000
Check drawn on Ral’s account, payable to a vendor, dated
And recorded in Ral’s book on December 31, 2015
But not mailed until January 10, 2016 300,000
What amount should be reported as cash on December 31, 2015?
a. 4,800,000
b. 5,300,000
c. 6,500,000
Problem13-11
Timex Company reported petty cash fund which comprise the following:
Coins and currency 3,300

Paid vouchers:
Transportation
Gasoline 600
Office Supplies 400
Postage stamps 500
Due from employees 300
1,200 3,000
Manager’s check returned by bank marked “NSF” 1,000
Check drawn by the entity to the order of petty cash custodian 2,700
What is the correct amount of petty cash fund for statement presentation purposes?
a. 10,000
b. 7,000
c. 6,000
d. 9,000
Problem13-12
Liwanag company reported an imprest petty cash fund of 30,000 with the following details:
Currencies 20,000
Coins 2,000
Petty cash vouchers
Gasoline payment for delivery equipment 3,000
Medical supplies for employees 1,000
Repairs of office equipment 1,500
Loans to employees 3,500
A check drawn by the entity payable to the
Order of Grace dela cruz, petty cash
Custodian Representing her salary 15,000
An employees check return by the bank for
Insufficient of funds 3,000
A sheet of paper with names of several employees
Together with contribution for a birthday gift
Of a co- employee attached for the sheet
Of paper is currency of 5,000
What amount of petty cash fund should be reported in the statement of financial position?
a. 42,000
b. 27,000
c. 37,000
d. 22,000
Bondoc, Elniño S
BSA4Y1-1

Months To Go Until They Mature

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Months To Go Until They Mature

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Not mailed until January 15,2016

Cash in sinking fund

What total amount should be reported as “cash” at year-end?

Everlast Company reported the following information at the current year-end:

Cash on bank 2,250,000

On December 31, 2015, West Company has the following balances:

Petty cash fund 24,000

What amount should be reported as cash on December 31, 2015?

Tawiran Company reported cash accounts which consistent of the following:

Bond sinking fund 1,500,000

What total amount of cash should be reported under current assets?

Check payable to Ral, dated January 2, 2016 in

What amount should be reported as cash on December 31, 2015?

Coins and currency 3,300

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