8.The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI current account , P302,000 Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1) Cash in PNB savings account, P65,000 Cash in Peninsula Bank which is under receivership, P40,000 Dollar exchange rate at Dec 31 was P53.60:$1 How much is the cash balance at Dec 31, 20X1? 621,000 619,400 581,400 579,000
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Cash in BPI current account , P302,000
Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1)
Cash in PNB savings account, P65,000
Cash in Peninsula Bank which is under receivership, P40,000
Dollar exchange rate at Dec 31 was P53.60:$1
How much is the cash balance at Dec 31, 20X1?
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- Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet? O A. $0 O B. $3,400,000 O C. $400,000 O D. $5,900,00054. CPA Company assigned P 4,000,000 of accounts receivables as collateral for a P1,500,000 5% loan with a bank. The entity was also assessed by the bank a finance charge of 6% on the transaction and is paid up front. What amount should be recorded as a gain or loss on the transfer of accounts receivables?Tranvia Company revealed the following information on December 31, 20X1: Cash in checking account 350,000 Cash in money market account (debt instruments) 750,000 Treasury bill, purchased last November 1, 20X1, maturing on January 31, 20X2 3,500,000 Time deposit purchased last December 31, 20X1, maturing on March 31, 20X2 4,000,000 What amount should be reported as cash and cash equivalents on December 31, 20X1?
- *P7.13 (LO 6) (Bank Reconciliation and Adjusting Entries) The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2020. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash records, the following facts were determined. 1. There were bank service charges for June of $25. 2. A bank memo stated that Bao Dai's note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar's books when Bao Dai's note was sent to the bank for collection.) 3. Receipts for June 30 for $3,390 were not deposited until July 2. 4. Checks outstanding on June 30 totaled $2,136.05. 5. The bank had charged the Aguilar Co.'s account for a customer's uncollectible check amounting to $253.20 on June 29. 6. A customer's check for $90 (as payment on the customer's Accounts Receivable) had been entered as $60 in the cash receipts journal by Aguilar on…Provide the quick ratio. Given: Current Assets Cash in bank P282,506 Due from related parties - current portion 1,325,607,906 Current Liabilities 1,925,822,542E7.1 (LO 1) (Determine Cash Balance) The controller for Wallaby plc isattempting to determine the amount of cash and cash equivalents to be reported onits December 31, 2022, statement of financial position. The following information isprovided. 1. Commercial savings account of £600,000 and a commercial checking accountbalance of £800,000 are held at First National Bank of Olathe.2. Money market fund account held at Volonte Co. (a mutual fund organization)permits Wallaby to write checks on this balance, £5,000,000.3. Travel advances of £180,000 for executive travel for the first quarter of next year(employee to reimburse through salary reduction).4. A separate cash fund in the amount of £1,500,000 is restricted for the retirementof long-term debt.5. Petty cash fund of £1,000.6. An I.O.U. from Marianne Koch, a company customer, in the amount of £150,000.7. A bank overdraft of £110,000 has occurred at one of the banks the company usesto deposit its cash receipts. At the present time, the…
- 1. SaKanya Company provided the following information on December 31, 2020: Cash in Bank (net of bank overdraft of P500,000) P5,000,000, Petty cash fund (unreplenished PCF P10,000) 50,000, Notes Receivable P4,000,000. Accounts receivable (net of customers credit balance of P1,500,000) P6,000,000, Inventory P3,000,000, Bond Sinking fund P3,000,000, Total current assets P21,050,000. Accounts payable (net of suppliers debit balances of P1,000,000) P7,000,000, Notes payable P4,000,000, Bonds payable due June 20, 2021 P3,000,000, Accrued expenses P2,000,000. Total current liabilities P16,000,000. What amount should be reported as total current liabilities on December 31, 2020?www O 0 P7.3 (LO 3), AP On July 31, 2025, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $25. The bank collected $1,520 from a customer for Keeds Company through electronic funds transfer. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348. Checks outstanding on July 31 totaled $1,860.10. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from W. Krueger, a customer, on account. Instructions Prepare the bank reconciliation as of July 31. Adjusted cash bal.…1. A company has P2,320,000 cash balance per bank statement, P456,000 deposit in transit, P320,000 NSF check and P278,000 outstanding check. What is the adjusted cash balance? A. P2,142,000 B. P2,178,000 C. P2,456,000 D. P2,498,000
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