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Saviour Exam 1

The document provides details of cash and cash equivalent amounts for 4 different companies and asks what amount should be reported in the balance sheet for each case. For the first company, the amount of cash to report is P18,500 + P500 + P3,500 = P22,500. For the second company, the amount is P15,000 - P1,000 = P14,000. For the third company, the amount is P30,000 + P300 + P5,500 + P1,400 = P37,200. For the fourth company, the amount is P72,000 - P24,000 + P8,000 + P1,000 = P57,000.

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133 views

Saviour Exam 1

The document provides details of cash and cash equivalent amounts for 4 different companies and asks what amount should be reported in the balance sheet for each case. For the first company, the amount of cash to report is P18,500 + P500 + P3,500 = P22,500. For the second company, the amount is P15,000 - P1,000 = P14,000. For the third company, the amount is P30,000 + P300 + P5,500 + P1,400 = P37,200. For the fourth company, the amount is P72,000 - P24,000 + P8,000 + P1,000 = P57,000.

Uploaded by

BLACKPINKLisaRoseJisooJennie
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SAVIOUR EXAM

General Rule: Answer the following carefully.

1. Consider the following: Cash in Bank –checking account of P18,500, Cash on hand of P500, Post-dated
checks received totaling P3,500, and Certificates of deposit totaling P124,000. How much should be
reported as cash in the balance sheet?

2.Meliodas Company has cash in bank of P15,000, restricted cash in a separate account of P3,000, and a
bank overdraft in an account at another bank of P1,000. Meliodas should report cash of?

3.Casper Company has the following items at year-end:Cash in bankP30,000Petty cash300Short-term


paper with maturity of 2 months5,500Postdated checks1,400Casper should report cash and cash
equivalents of

4.Harlequin Company month-end bank statement shows a balance of P72,000, outstanding checks are
P24,000, a deposit of P8,000 was in transit at month end, and a check for P1,000 was erroneously
charged by the bank against the account, the correct balance in the bank account of Harlequin Company
at month end is?

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