Problem 53

Tranvia Company had the following balances on December 31, 2019:

Cash in checking account 350,000

Cash in money market account 750,000
Treasury bill, purchased November 1, 2019
maturing January 31, 2019 3,500,000
Time deposit purchased December 1, 2019
maturing March 31, 2019 4,000,000

What amount should be reported as cash and cash equivalents on

December 31, 2019?

Problem 54

Pygmalion Company had the following balances on December 31, 2019:

Cash in bank – current account 5,000,000

Cash in bank – payroll account 1,000,000
Cash on hand 500,000

Cash in bank – restricted account for building

construction expected to be disbursed in 2020 3,000,000
Time deposit, purchased December 15, 2019 and
due March 15, 2020 2,000,000

The cash on hand included a P200,000 check payable to Pygmalion,

dated January 15, 2020.

What total amount should be reported as cash and cash equivalents

on December 31, 2019?

Problem 55

Thor Company provided the following data on December 31, 2019:

Checkbook balance 4,000,000

Bank statement balance 5,000,000
Check drawn on Thor’s account, payable to supplier,
dated and recorded on December 31, 2019 but not mailed
until January 15, 2020. 500,000
Sinking fund cash 2,000,000

On December 31, 2019, what amount should be reported as “cash”

under current assets?