INSTRUCTIONS: Soloct.the best answer for each of the following questions. Mark only 936 answer foreach tem on tne answer sheet provided, Stiely NO ERASURES ALLOWED. Eronures wil ener Your examination answer sheet INVALID, Use PENCIL NO. 2 oni, GOODLUCKIS 1. The cash account f Riyadh Corp. on December 31,2611 has > lance of 27,600 and Weohait Othe flloning. ‘te a coin on han 52.780 ‘ety cash nluding aety cash vouchers of P69 1900, ‘ance wt Saungs account with a Bank elsed by ‘he BSP 35,000 customer's check dated January $5, 2012 8,000 ‘oat memo tramm suppers for putthages retires 300, Postage stomps 120 Checking account Balance Bank of Pl 22,000 The corract cash balance on Oscember 25, 2011 of Riyadh 2b 70,560 ©. 975,390 2 pe 330 a bs330 2-114 petty cash funa s establsned inthe amount of 2,500, 4 conta 2,000. in cash and PASO. In eset ot eshursamonts wen i relenahes, th ural ery fo Cash, P450; Cash Over and Short, P5, ST TE a ET — Pras eeteg . sme 4 Shown below is the bank reconciaton for Singopere Company forthe marth of November: Balance per bank, 11/30 P75,000 Aad: Depots in rans “1z.000 Te. 37,000, Lest: Outstanding check 14,000 Bank creat recorgedin evror = $.000 19.000 Cash balance per books, 13/30 8.000 Tine bank statement forthe month of December contain the folowing data “ota! deposits 755,000 Total charges, ctuding an NSF check of ~ PS.000 and a servce charge sf P200 "$6,090 ~ Credit wore Geared nthe baniin Oecemears tronst of 19,000 on Gacember 310 PS ‘The amount of ash csnursements per Ducks n December = 2 50,200 : 8 pa2.800 a. paveno ‘is following nformatien is avaiable for Catsmto. Company ‘egnve to 2011 operations: Accounts reelvatte,Janvary 1, 2012 29,000, decoumrs recelvate colectes uring 2012s 092 ‘Cosh sates during 2011 30,000 Inventory, anwar t, 201 Seo00 Ineentory, December 31,2011 48,000 Purchases otinventery during 2021 soioce wnat is Colomn Company's accounts recowuable Balance at Oeverber 2, 20117 2 pa2,000 © 20,000 3 2,000 3 r80,000Pst cctog 5. Damascus Company hed the following information relating to ‘e necounts eacenabe Accounts recewabe at 12/31/2010 1,300,000, Creat sales for 2011 -15/300,000 Steere trom customers for 2081, ‘scluding recovery 4,750,000 Anccounts wrten of 9730/3033 125,000 ‘Cotecon of accounts writen ef a yo {customer cet nas not reestablahed) 25,000 ciatea yea ecowabls Bora “W eceiables a 12/31/2012 (oy December 38, 2011, the amartzed cost of accounts Spe 00 1,635,009, pitsoa\a00. & 3,660,000 ovng eo eo epee Toe away “Iles for 2011 totaled 1,000,000, the doubts! accounts 23.000 Pos.no0 Bangkok Corpertion sold'a machine on July 1, 2084. THe lasactea payment contrate that provides fo w dann payment ‘in,t0 and an year ste beanng interes 1086. THE ‘re made on June 20 of each year, begonng ube 30, 2012 219 808 © i piesa “ P13. Prat ecntora one 4 “Qn January; 2007, Hanoi Company said s machine wth @ 1 ‘carrying amount ef P300,000 ond. accepted im excnange 3 romssory note witha face valve of PS0D,000, se oare ot i Becember'31, 2016, and a sisted rate ef #2) with tnerest receivable atthe end of each year. The fa value of te _ macine snot rend dceetbe Ge eS fost orice nies creamer, Se ee ~ Gotideres wo have a ppronrate input ito sane 3%. . The anorze ast of he ete acaba f Deeb mis 2 9009 . 1 Pagsiao> 5 ere 420,154 9. OnJenuary t, 2011, Athens Company old eaulpmen: wi » Carrying amount of P300,000 to. Greece Company. Daymnert, Greece gave Athens Company © PODEOS sie ‘ne note beara interest rte of ve and isto coos four annua istaiments of 200,000 fous meres. or one ustancing bola). The fest payment mas rece we 98 December 31, 2011. The market price of the ecusment nat relgby coverrinable” The previing rte of nceras fo fetes of ts tyse 1388 ‘Te total mcera robe recognized n 201% proft or ass 2 pae8.197 ari! panne? 399,000 10, Borin Company 3019 tract of ad to Germany Co, ovr | 2610, for", 600,000 unr an crates sae cote Gemany co sgnee 4 sycir taco note fer PS 5 Gul on July 3010, Saaan tothe dow peymest of 82:490006 ‘ha eGual aonel payments of principal ano interes oh he te it be P1803000 poyable ah Dy 2. 3611, 20! 2oin,and 20.5. "Te tand'had on esabithad can bree of 6,000,000, one Ae eoe tothe company mas be 800g qo mrom mt ‘The callecion of the instalments on tis note I reesonably rere ‘The eurent panton of the Installment note receivable on December 32, 203118 : 3. P1805,000 | 5. P8.400;00| «81219730 Putes.ooe lon August 1, Buenos Aves Corporation assigned £20,000 ci fs pSe.000 ef accounts recawable. The finance company ‘nance 90% of the aengned seeounts less 2 P2,000 Tee Smerest 125 and. payable month the begining of Derod ton balance. A oon payment remifed at tne end of oth month. Eauh payment includes pemncipal and interes. ‘he armour of each isan poyment ecuats the cash coiectt Gn recotabiesgurmg. the month plus terest on the ian 00 wa cole on acu ae ira At, ete Inovns Expense of F180, Sotto cash a 800 feito fecurt Recovable Assigned of 000, Soot te Pye of 7,10. fers factors, °40,000_ of accounts recewaoe thi egure. ‘The factor agrees to promde financing based OF fee Feces, bik wipeses TO" fee. In eivon, che antenna ranstree ogee tat 3,000 of sles (turns ‘rd afowancs can be expected fam teas acct, What sro e” s.c00 4 Fo Pct Acer so Use the folowing information fr the next two questions. ‘he following data pertains ta Canberra Cos investments in ‘marketable equty secures! falcvatar cot alae traue Tong erisogoe Piss.0e” Fe, a00 Avatobetorsae ""25c00 "sean "720,000 14, wnat amount stole Cantera regan a8 ures bol gem in ts 2011 income statement, ” Sei peo00 - 8 ps8.00 Peston 14, wnat emount should Carbera report 8 net unceahed es 2 © f15000 2. Fto.000 3. Binion ina Company's Accounts Payable balance 2 Dscember 31 2011, was” P1,800,000 before consisereg. the folom S'Goods were Ia. transit from 9 vetsor to Vienna on December It, 2011. The invoice pie ts BLOD G09, on the goods weve shicped FOB shipping pont om Geacize 25, 2011. the goods were receved on Denuory #2012, (Goods shigped te Vienna FOB shipping sect 5° becerzer 20, 2044, from a vendor were lost in Garst, The mvece ice mas 950,000.07 January 5, 20:2) Vera "ea a 50,000 iar apainst the common carrer In is December 32, 2011, balance she, epon Acesunte Payabie ot 2.91.950,000 © P1.880,000 | 5 p1'se0;200 5 PLEO0.000 Qo tee