Straight Problems 1. JAYSON Company reported an unadjus 3, ed cash in bank balance of P3,500,000 as of December 31, 2023, In addition, it provided the following detail * Customer check of P480,000 dated January 2, 2024 was already included in the cash balance. * Customer check of P350,000 dated December 8, 2023 was included in the balance even though it is not yet encashed as of December 31, 2023. * Supplier check of P400,000 dated November 30, 2023 was already deducted even though the supplier actually encashed it on January 20, 2024. * Supplier check of P250,000 dated December 28, 2023 was already deducted even though it was given to the supplier only on January 5, 2024. h Required: From this information, determine the following: a, Adjusting journal entries to correct the recording of each check, if relevant. b. Adjusted amount of cash balance as of December 31, 2023. . As of December 31, 2023, PARALUMAN Company reported cash balance of P4,600,000, In addition, the following checks were already recorded: * A check written for P190,000 dated February 28, 2023 is yet to be encashed by the payee. * A check written for P110,000 dated September 28, 2023 is also yet to be encashed by the paye * A check written for P280,000 dated January 10, 2024 was already in the possession of the payee as of December 31, 202: * Acheck received amounting to P360,000 dated January 15, 2024, * Acheck received amounting to P500,000 dated October 1, 2023, Required: From this information, determine the following: a, Adjusting journal entries to correct the recording of each check, if relevant. b, Adjusted amount of cash balan 8 of December 2023 EDITH Company reported the following information as of December 31, 202 * Investment in common shares of another entity amounting to P400,000 is expected to be sold next month.* Three-year treasury bonds amounting to P2,000,000 were acquired on the original date of issue. * Five-year treasury bonds amounting to P3,000,000 were acquired on 15, 2023. Maturity date is on February 1, 2024. Ae * Redeemable preference shares amounting to P1,800,000 were acquired la December 1, 2023. The shares will mature on January 15, 2024. «Excess funds of P3,500,000 were parked to time deposit on July certificate indicated a January 12, 2024 maturity date. November 1, 2023. The Required: From the above information, determine the amount of cash equivalents. ._ As of December 31, 2023, MANDAUE Company reported the following information: Cash on hand 2,500,000 Checking account 1 - UBP 4,500,000 Checking account 2 - UBP (1,200,000) Checking account - BPI (700,000) Savings account - PNB 2,000,000 Savings account - BDO 5,500,000 Commercial papers 1,800,000 Money market placements 1,000,000 Time deposit, 3 months 800,000 Time deposit, 6 months 1,500,000 Additional details are the following: a. Included in the cash on hand balance is a P200,000 customer check dated February 14, 2024 b. Deducted from the checking account 1 - UBP is a P300,000 supplier check dated December 20, 2023 that was only given to the payee on January 3, 2024. c. Deducted from the checking account 1 - UBP is a P450,000 supplier check dated December 22, 2023 and was given to the payee on the same date, but was encashed only on January 18, 2024. d. Half of the savings account maintained in BDO is for the purchase of inventories for the next three months while the other half is for the marketing employees’ travel fund. e. The savings account set aside in PNB is for the acquisition of fleet of transportation vehicles for use of its marketing employees. Required: Determine the amount of cash and cash equivalents. SORSOGON Company reported the following items as of December 31, 2023: Cash on hand P2,800,000 Cash in bank 6,060,000 Post-dated customer check included in cash on hand 550,000 Post-dated supplier check reflected in cash in bank 320,000 242023-dated unencashed supplier check reflected in cash in bank 260,000 2023-dated unreleased supplier check reflected in cash in bank 460,000 Petty cash, including P70,000 vouchers and P20,000 employee check representing her salary for December 2023 200,000 Advances to employees 1,400,000 Gift certificates 80,000 Travel fund already disbursed to marketing employees 600,000 Payroll fund not yet included in cash in bank balance 1,000,000 Bond sinking fund, related liability will mature in 2028 3,000,000 Investment in 5-year government bonds acquired two months before the maturity date. 2,000,000 Required: From this information, determine the amount of cash and cash equivalents. KIMBERLY Company reported the following petty cash transactions for the last two months of 2023 and on January 2024: Date Particulars Nov. 1 Established P30,000 petty cash fund. 5 Paid P8,000 transportation of messengers. 12 Paid P10,000 for office supplies purchased. 28 Paid P5,000 for miscellaneous expenses. 30 _Replenished the petty cash fund and increased it to P40,000 Dec.8 Paid P12,000 to repairmen who fixed the office aircon. 20 Paid P15,000 for the treats and snacks given to VIP customer Jan. 10 Paid P11,000 for the transportation of messengers. 25 The petty cash has been replenished. Required: Determine the journal entries using (a) imprest fund system; and (b) fluctuating fund system.