Accounting 2 – Activity Sheet

Cash
Happy Convenience Store is managed by Mr. Jimmy Chua. Jimmy asked you to
determine the balance of his cash account as of December 31, 2019. You determine the
following:
1. He kept some cash in the store as change fund (sukli). The cash count revealed
8 pieces of 100 peso bills, 10 pieces of 50 peso bills, and 12 pieces of 20 peso
bills, 25 pieces of 10 peso coins and 18 pieces of 5 peso coins.

2. Two of his regular customers gave Jimmy the following checks in payment of
debts:
a. ₱ 2,350 check dated December 31, 2019.
b. ₱ 2,920 check dated January 15, 2020.

3. There are two bank accounts in the name of the store with the following
balances.
a. Balance of the savings account on December 31, 2019 according to the
passbook is 20,360.
b. A time deposit certificate for ₱ 80,000 for 90 days.

Report to Jimmy the balance of the cash and cash equivalents account of Happy
Convenience Store. Dated December 31, 2019.

Answer:
Accounts Receivable
Jimmy Asked you to compute how much Anna Reyes owed the store. Jimmy sells to
Anna on credit. Anna pays every 15th and 30th of the month. Anna’s listing are
reproduced below:

Anna Reyes
Balance ₱300
October 4 2 small cans of sardines (₱ 15 each)
October 10 3 kilos of rice (₱40 per kilo)
October 13 10 sachets of shampoo (₱5 peso each)
October 15 Payment: ₱ 150
October 20 2 bottles of cola (₱25 each)
October 23 1 small bar of bath soap (₱20)
October 30 Payment: ₱ 100
November 8 2 sachets of fabric softener (₱10 each)
November 10 2 kilos of rice (₱ 40 per kilo)
November 15 Payment: ₱ 150
November 17 1 kilo of sugar (₱20)
November 30 Payment: 100
December 1 2 bars of laundry soap (₱20 each)
December 7 3 kilos of rice (₱40 per kilo)
December 15 Payment: ₱100
December 23 3 bottles of cola (₱25 each)
December 30 Payment: ₱200
Net Receivable ₱