Integrated Financial Accounting

Cash and Cash Equivalents

Activity # 1

Instruction: Provide a separate sheet for your solutions

1. At year-end , Moises Company reported cash and cash

equivalents which comprised the following:

Cash on hand 500,000

Demand deposit 4,000,000
Certificate of deposit 2,000,000
Postdated customer check 300,000
Petty cash fund 50,000
Traveler’s check 200,000
Manager’s Check 100,000
Money order 150,000

What total amount should be reported as cash at year-end?

2. Totoro Company reported petty cash fund which comprised the

following:

Coins and currencies 3,300

Paid vouchers:
Transportation 600
Gasoline 400
Office Supplies 500
Postage stamps 300
Due from employees 1,200 3,000
Manager’s check returned by bank marked
As “NSF” 1,000
Check drawn by the entity to the order
Of petty cash custodian 2,700

What is the correct amount of petty cash fund for statement

presentation purposes?

3. Toby Company provided the following information on December

31, 2022.
Cash on hand 500,000
Petty cash fund 20,000
Security Bank current account 1,000,000
PNB Current Account 1 400,000
PNB Current Account 2 (50,000)
BSP Treasury Bill - 60 days 3,000,000
BSP Treasury Bill - 30 days 2,000,000

 The cash on hand included a customer postdated check of Php

100,000 and postal money order of Php 40,000
 A check for Php 200,000 was drawn against Security Bank
account, dated January 15, 2023, delivered to the payee and
recorded December 31, 2022.
 The BPI Time deposit is set aside for acquisition of
equipment.
What total amount of cash and cash equivalents should be reported
on December 31, 2022?

4. Manna Company had the following account balances on December

31, 2022.

Cash in bank 2,250,000

Cash on hand 125,000
Cash restricted for addition to plant 1,600,000
(expected to be disbursed in 2023)

Cash in bank included Php 600,000 of compensating balance against

short-term borrowing arrangement. The compensating balance is not
legally restricted as to withdrawal. On December 31, 2022, what
total cash should be reported under current assets?