PROBLEM 1-10 [ANSWER: C]

TRANVIA COMPANY
Cash in checking account P 350,000
Cash in money market account 750,000
Treasury bill, purchased November 1, 2020
maturing January 31, 2021 3,500,000
Cash and Cash equivalents, December 31, 2020 P 4,600,000

PROBLEM 1-11 [ANSWER: C]

AFFABLE COMPANY
Cash in bank- demand deposit P 5,000,000
Cash on hand 400,000
Money Order 50,000
Manger check 100,000
Travel check 1,000,000
Total cash P 6,550,000

PROBLEM 1-12 [ANSWER: A]

THOR COMPANY
Checkbook balance P 4,000,000
Check drawn on Thor’s account, payable to Supplier,
dated and recorded on December 31, 2020 but not
mailed until January 31, 2021 500,000
Cash under current assets P 4,500,000

PROBLEM 1-13 [ANSWER: B]

JOANA COMPANY
Petty cash fund (50,000-10,000) P 40,000
Cash on hand (500,000-100,000) 400,000
Cash in bank - current account 4,000,000
 Cash in bank - payroll account 1,000,000
Time deposit 2,000,000
Cash in sinking fund set aside for bond payable
due, June 30, 2021 1,500,000
Cash and Cash equivalents P 8,940,000

PROBLEM 1-14 [ANSWER: B]

LAMENTABLE COMPANY
Cash in bank - Current account (P 6,000,000- 400,000) P 5,600,000
Petty cash fund - all fund were reimbursed at year-end 50,000
Time deposit - three months, due January 15, 2021 2,500,000
Saving deposit 1,000,000
Cash and cash equivalents P 9,150,000

PROBLEM 1-15 [ANSWER: C]

BALONEY COMPANY
Cash in bank P 2,250,000
Cash on hand 125,000
Cash, December 31, 2020 P 2,375,000

PROBLEM 1-16 [ANSWER: B]

YASMIN COMPANY
Petty cash fund P 50,000
Current account- First bank (4,000,000+100,000) 4,100,000
Money market placement - Third bank 1,000,000
Cash and cash equivalents P 5,150,000

PROBLEM 1-17 [ANSWER: D]

ROMA COMPANY
Undeposited NSF check P 600,000
 BDO Checking account 4,000,000
BDO Payroll fund 1,000,000
BDO money market 2,000,000
BDO value added tax 450,000
Cash and cash equivalents P 8,050,000

PROBLEM 1-18 [ANSWER: 1. B 2. C]

ARUBA COMPANY
1. Checkbook balance P 8,000,000
Postdated accounts receivable (2,000,000)
NSF Check (500,000)
Undelivered check 1,500,000
Cash on hand - Undeposited 400,000
Change of fund 40,000
Cash P 7,440,000

2. Treasury bill P 2,500,000

Money market placement 3,000,000
Cash and cash equivalents P 5,500,000

PROBLEM 1-19 [ANSWER: 1. A 2. A]

ECSTASY COMPANY
1. Cash-coin, currency, saving account and checking account P 3,400,000

2. Government Treasury bill P 2,000,000

Commercial papers 1,500,000
Cash and cash equivalents P 3,500,000
PROBLEM 1-20 [ANSWER:C]
MARJORIE COMPANY
Coins and currency P 22,000
Check drawn payable to Ann Cruz 15,000
Petty cash fund P 37,000

1PROBLEM 1-21 [ANSWER: C]

ADMIRABLE COMPANY
Coins and Currency P 2,000
Check drawn to the order of petty cash custodian 4,000
Current amount of petty cash P 6,000

PROBLEM 1-22 [ANSWER: 1. B 2. A]

LOVE COMPANY
1. Checkbook balance P 4,000,000
Postdated customer check (200,000)
Undelivered check payable to supplier 400,000
Adjusted cash in bank, December 31, 2020 P 4,200,000

2. Cash in bank P 4,200,000

Undeposited collection 400,000
Petty cash fund:
Coins and currencies 5,000
Replenishment check 40,000 45,000
Cash, December 31, 2020 P 4,645,000