1 Using the information below, what amount of cash and cash equivalents should report in its year-end statement

of cash flows? Cash and CE Others

→ Coins and currencies 50,000.69 50,000.69

→ Checks received from customers 660,000.96 660,000.96
→ Certificate of deposit, term: 12 months 800,000.00 800,000.00 Short term invesment
→ Petty cash fund 4,369.96 4,369.96
→ Postage stamps 600.00 600.00 Supplies
→ Bank A, checking account balance 2,101,001.00 2,101,001.00
→ Post-dated check from customer 10,001.01 10,001.01 AR
→ Money order from customer 15,000.00 15,000.00
→ Cash in savings account 100,000.00 100,000.00
→ Bank draft from customer 50,000.00 50,000.00
→ Utility deposit to gas company, refundable 5,000.00 5,000.00 Other assets
→ Cash advance received from customer 6,000.00 6,000.00 AP
→ NSF check, BSA Company 20,000.00 20,000.00 AR

→ Cash advance to company executive, collectible upon demand 200,000.00 200,000.00 AR

→ BPI, checking account, overdraft 20,000.00 20,000.00 AP

→ IOUs from employees 20,000.00 20,000.00 AR
2,980,372.61

2 The following information is shown in the accounting records of BSA Company. What is the cash balance on December 31, 2019?

1/1/2019 12/31/2019
Cash 50,000 Cash and CE Accounts Payable Accounts Receivable
Accounts receivable 82,000 116,000 50,000 68,000 82,000
Merchandise inventory 101,000 93,000 2,866,000 2,796,000 300,000 2,900,000
Accounts payable 68,000 64,000 120,000 2,796,000 2,492,000 2,866,000
Sales 2,900,000 64,000 116,000
Gross profit 16% based on cost
Operating expenses 300,000 Cost of sales 2,500,000
Inventory, End 93,000
CGAS 2,593,000
Inventory, Beg 101,000
Purchases 2,492,000

3
QCU Corporation's checkbook balance on December 31, 2019 was P160,000. On the same date, QCU held the following items below. In its
December 31, 2019 statement of financial position, how much should QCU report as cash?
160,000
→ A P5,000 check payable to QCU, dated January 2020, was not included in the December 31 checkbook balance
→
A P3,500 check payable to QCU which was deposited December 19 and included in the December 31 checkbook balance,was returned
by the bank on December 30 marked NSF. The check was re-deposited on January 2, 2020 and cleared on January.
(3,500.00)
→ A P25,000 check payable to a supplier and drawn on QCU's account, was dated and recorded on December 31, but was not mailed until
January 19, 2020 25,000
181,500

4 QCU Company had the following transactions all through out the year 2019 which is its first year of operations, what is the cash balance at
December 31, 2019?
Sales (90% collected in first year) 1,500,000.00 Cash and CE
Bad debt written-off 60,000.00 1,350,000.00 1,200,000.00
Disbursements for cost and expenses 1,200,000.00 500,000.00 90,000.00
Disbursements for income taxes 90,000.00 100,000.00 400,000.00
Purchases of fixed assets 400,000.00 50,000.00
Depreciation on fixed assets 80,000.00 210,000.00
Proceeds from issuance of ordinary share 500,000.00
Proceeds from short-term borrowings 100,000.00
Payments on short-term borrowings 50,000.00

5 The cash account in the current asset section of the December 31, 2019 balance sheet of King Company consists of the information below.
Considering the pertinent information, what is the correct cash fund balance of King Company at December 31, 2019 of Statement of
Financial Position?
Cash in banks 2,250,000.00
Cash restricted for additions to plant (expected to be disbursed in 2020) 3,000,000.00
Petty cash funds (all funds were replenished on December 31, 2019) 30,000.00 30,000
Included in the cash in banks is a compensating balance of P750,000.00 against short-term borrowing arrangements at December 31,
2019. The compensating balance is not legally limited as to withdrawal by King Company.

6 BSA Company reported a total cash P6,325,000 on December 31, 2019, which includes the information below. Considering that
information, How much is the correct amount of cash equivalents that BSA Company should report in its December 31, 2019 statement of
financial position?
→ Two certificates of deposits, each totaling P500,000. These certificates of deposit have a maturity of 120 days 0
→ A check that is dated January 12, 2020 in the amount of P125,000
→ A commercial paper of P2,100,000 which is due in 120 days
→ Currency and coins on hand amounted to P7,700
→ BSA Company has agreed to maintain a cash balance of P500,000 in one of its banks at all times and it is not available for withdrawal
and to ensure future credit availability

7 While checking the cash accounts of ABS Company on December 31, 2019, you find the following information below. What is the correct
cash in bank balance for ABS Company on December 31, 2019?
Balance per books 67,760.00 67,760.00
Balance in checking account (outstanding checks per books of P9,876) 65,323.00 55,447
Deposit in bank closed by BSP 16,000.00
Deposit in transit 12,345.00 12,345
Currency and coins counted 9,500.00
Petty cash fund (of which P450 is in the form of paid vouchers) 1,000.00
Bank charges not yet taken up in the books 58.00 (58.00)
Bond sinking fund-cash 10,000.00
Receivables from employees 700.00
Book error in recording a check, the correct amount as paid by the bank is P890 instead of P980. 90.00
67,792.00 67,792.00
8 On December 31, 2019, QCU Co. had the following cash balances:
→ Cash in banks 1,800,000.00 1,800,000
→ Petty cash funds (all funds were reimbursed on December 31, 2019) 50,000.00 50,000
→ Cash in banks included P600,000 in separate bank where-in the company is required to maintain a minimum average of P800,000 of 10
workings on a rolling basis. 600,000
2,450,000
In the current assets section of QCU's December 31, 2019 statement of financial position, what total amount should be shown as cash?

9 Show below is the bank reconciliation for BSA Company for May 2019. What is the cash balance per books on June 30, 2019?
Balance per bank, May 31, 2019 80,008.80 80,008.80 86,973.87
Add: Deposits in transit 12,020.20 55,055.05 1,900.19
Total 92,029.00 (48,089.98) (15,000.50)
Less: Outstanding checks 14,410.41 86,973.87 73,873.56
Bank credit recorded in error 5,050.50 19,460.91
Cash balance per book, May 31, 2019 72,568.09

The bank statement for June 2019 contains the following data:
Total deposits 55,055.05
Total charges, including an NSF check of P4,000 and a service charge of P200 48,089.98
All outstanding checks on May 31, 2019, including the bank credit, were cleared in bank in June 2019. There were outstanding checks of
P15,000.50 and deposits in transit of P19,000.19 on June 2019.

10 QCU Company had a bank reconciliation at March 31, 2019:

Balance per bank statement, March 31, 2019 46,508.96 49,700.00
Add: Deposits in transit 10,301.31 (12,608.68)
Total 56,810.27 7,500.50
Less: Outstanding checks 12,608.68 44,591.82
Balance per books, March 31, 2019 44,201.59

Data per bank statement for the month of April 2019 follows:
Deposits 58,400.00
Disbursements 49,700.00

All reconciliation items at March 31, 2019 cleared through the bank in April. Outstanding checks at April 30, 2019 totaled P7,500.50
What is the amount of cash disbursement per book in April?

11 BATASAN Company is preparing its March 31 bank reconciliation. The following data are available:

From the February 28 bank reconciliation

Deposit in transit, P1,771.17
Outstanding checks, P3,909.90

March data: Per Bank Per Book

Balance, February 28 74,140.40 71,940.04
March deposits reflected 47,606.66 49,000.36 49,000.36
March checks reflected (erroneously includes a check drawn by Butasan Company for
-61,700.00 -61,000.00 47,606.66
P1,500)
Note collected (including P200 interest) 20,000.00 (1,771) 45,835.49
Service charge (120.00) 3,164.87
Balance, March 31 79,927.06 59,940.40
How much is the deposits in transit at March 31?

12
The cashier of ABS Company misplaced all the bank statements for the past years, you reviewed the accounting records and discovered that
the following journal entries were made to reconcile the June 30, 2019 bank records and accounting records.

Accounts Receivable 76,612.60

Miscellaneous Expense 625.30 371,123.50
Notes Receivable 10,823.10 -66,306.57
Interest Revenue 108.23 304,816.93
Cash 66,306.57 10,375.57
315,192.50
Pre-adjustment cash balance in the accounting records was P371,123.50, outstanding checks were P10,375.57 and no other adjustments
were required.
What is the balance of the cash account per bank statement as of June 30, 2019?

13 In reconciling the cash in bank of QCU Company with the bank statement balance for the month of November 2019, the following
information are summarized: Books Bank
Book debits for November, including October CM for noted collected, P60,000 808,008.80 808,008.80 700,001.71
Book credits for November, including NSF of P20,000 and sservice charge of P800 for October 620,000.62 -60,000.00 -80,000.00
Bank credits for November including CM for November for bank loan of P100,000 and October deposit in 700,001.71 100,000.00 228,007.09
transit for P80,000 848,008.80 = 848,008.80
Bank debits for November including October outstanding checks of P170,800 and November service charge 600,006.60
of P200
What is the deposit in transit for the month of November?

14 The following information was included in the bank reconciliation for BSA Company for June: Books Bank
198,020.02 172,101.20
Checks and charges recorded by bank in June (including a June service charge of P331.13), P172,101.20; service charge made by bank in
331.13 80,606.60
May and recorded on the books in June, P202.20; total of credits to cash in all journals during June, P198,020.02: Customer's NSF check
-202.20 -53,557.75
returned as a bank charge in June (no entry made on books), P1,001.10; Customer's NSF check returned in May and redeposited in June (no
1,001.10
entry made on books in either May or June), P2,505.05; outstanding checks at June, P80,606.60 and deposit in transit in June, P6,006.60.
199,150.05 = 199,150.05
What were the total outstanding checks at the beginning of June?

15 ABS, Inc. reported a balance of P43,132.23 in its cash account at the end of the month. There were P20,020.20 deposits in transit and Bank Books
P15,173.37 outstanding checks. The bank statement showed a balance of P55,153.35, including a note with face value of P15,050.05, and a 55,153.35 43,132.23
P6,060.00 service charge. 15,050.05
How much is the interest on the note collected by the bank? 20,020.20 -6,060.00
-15,173.37 7,877.90
60,000.18 = 60,000.18