Intermedlate Accounting 1

Qulz 1

Name: CRISTINE DOMINGO

year and Section: pSAIS

Problem1
JMP Co.'s records on December 31, 2023 show the ff:
320,000.00
Cash on hand
1,120,000.00
Cash in bank- Current account
6,400,000.00
Cash in Bank- Peso savings deposit 64,000.00
Cash in Bank- Dollar savings deposit (restricted)
2,560,000.00
Treasury Bill (purchased 11/1/2023, maturing 2/28/2024)
Treasury Shares (purchased 12/31/2023, for reissuance on 2/28/2024) 1,600,000.00

Additional Information:
The check is dated December 28, 2024
"On December 28, 2023, JMP Co. issyed a check amounting to Php 192,000.00.
but recorded and delivered only on January 5, 2024.
is
The peso savings deposit incdudes a compensating balance of Php 80,000 which
not legally restrited.
°Cash on hand inudes Petty Cash fund amounting to 20,000.00 with the following details
Currency and coins 3,000.00
Replenished vouchers 10,000.00
Unreplenished vouchers 7,000.00
points)
How much is the balance of Cash on Hand account as of December 31, 20237(2
How much is the Cash in Bank Balance as of December 31, 20237(2 points)
How much is the total Cash balance as of December 31 202372 points)
How much is the balance of Cash equivalents as of December 31, 20237(2 points)
31, 2023? (2 points)
How much is the balance of Cash and Cash Equivalents as of December

Problem 2
JMP Co. reported the following information on December 31, 2021: 2,000,000.00
Cash on Hand
100,000.00
Petty Cash Fund
4,000,000.00
Cash in Bank 2,000,00000
Savings Deposit 100,00000
Total
Cash on hand incduded the following
dut to ansuficsent fund but subsequently
a. Customer check of Php 100,000 returned by the bank December 26, 2021
redeposited and cheared by the bank on December 28, 2021.
The check was recorded
b. Customer check for Php 150,000 dated December 28, 2022 receied December 22. 021
on the same date it was received
The petty cash fund conssted of the folloing itesns
20,000 00
Curency and coins
10,000 00
Employee OU
Check drawn by MP Ca payatle to petty Cashes
Cash in Bank included the foliong transaon
a. Acheck dated arnd recorded Decesnter 22, 2021 asnoung , 0 waa deliluered to fayee on lanuary 2, 2022.
How muh is the balance of Cash on hand on Deemter 3A, 021N2 poes)
SIE)
How muh is the balance of Petty Cash Fud on DiexemBes 31, 202M
HoW muh is the balance of Cash Bak om Dlexembes 31, 30212 pes)
9) How much is tthe balace of ovings Depl n Ceesles 31, 10pn)
ges)
1U) How much is the total Casth and Cash egualessts an December 11, 2I2

Problem
NtP Co provnded the following ntomati
2480,000 00
Balance per bank statemeet, Decemter 11
Depost of December 30 t recorded by the bank O0000
20,000 00
Detbit memo Sence charge
Credit meno Coextkn of note by the bark for MP Ca 0000000
1,100,00000
Ottandin Chects
An anasis of the cancrked chxi umed wth the baná sttement reeaed the folowsng
"Check for purchase of supples as nfor Php 60000O bu wa recorded by MP Co. s Php 90,000
*Ihe manager of MP Co wrote a checi for traelng espenssd Pho 100,000 whle out of town The check
trrded
What amoto a n bank shoud be reported on Decmber 315 ponts)
i) What amnts rrgated Cah baance per letgr on Deembe 31Spn
Intermediate Accountng 1
Quiz 1

Nane CR To PAL, RocHGELE

year and Section: PAS- LA
D
Problem 1
JMP Co.'s records on December 31, 2023 show the ff:
Cash on hand S12,00000
Cash in bank- Current account 1,792,00000
Cash in Bank- Peso savings deposit 10,240,000.00
Cash in Bank- Dollar savings deposit (restricted) 102 A00 00
Treasury Bill (purchased 11/1/2023, maturing 2/2B/2024) 4,096,000.00
2,560,000.00
Treasury Shares (purchased 12/31/2021, for reissuance on 2/28/2022)
Additional Information:
"On December 28, 2023, JNMP Co. issued a check amounting to Php 192,000.00. The check is dated Decernber 22, 2024
but recorded and delivered only on January 5, 2024.
*The pes0 savings deposit includes a compensating balance of Php 80,000 which is
not legally restricted.
'Cash on hand incudes Petty Cash fund amounting to 32,000.00 with the following details:
Currency and coins 4,800.00
Replenished vouchers 16,000.00
Unreplenished vouchers 11,200.00
1 How much is the balance of Cash on Hand account as of December 31, 2023?(2 points)
2 How much is the Cash in Bank Balance as of December 31, 2023?(2 points)
3. How much is the total Cash balance as of December 31 20237(2 points)
4. How much is the balance of Cash equivalents as of December 31, 2023?(2 points)
S. How much is the balance of Cash and Cash Equivalents as of December 31, 2023? (2 points)

Problem 2
JMP Co. reported the following information on December 31, 2021:
3,200,000.00
Cash on Hand
Petty Cash Fund 160,000.00
Cash in Bank 6,400,000.00
Savings Deposit 3,200,000.00
Total 12960,000.00
Cash on hand included the following:
a. Customer check of Php 100,000 returned by the bank December 26, 2021 dut to insuficient fund but subseauently
redeposited and cleared by the bank on December 28, 2021.
b. Customer check for Php 150,000 dated December 28. 2021 received December 22. 2021. The check was recorded
on the same date it was received.
The petty cash fund consisted of the following items:
Curency and coins 32,000.00
Employee l0U 10,000.00
Check drawn by JMP Co. payable to petty cashier 128,000.00
Cash in Bank included the following transaction:
a. Acheck dated and recorded December 22, 2021 amounting 500,000 was delivered tn Pavee on January 2, 2022.
6. How much is the balance of Cash on hand on December 31, 2021?(2 points)
7. How much is the balance of Petty Cash Fund on December 31, 20217(2 points)
8. How much is the balance of Cash in Bank on December 31, 2021?(2 points)
9. How much is the balance of Savings Deposit on December 31, 2021(2 points)
10. How much is the total Cash and Cash equivalents on December 31, 2021/2 points)_

Problem 3
JMP Co. provided the following information:
Balance per bank statement, December 31 1,984,000.00
Deposit of December 30 not recorded by the bank 448,000.00
Debit memo- Service charge 16,000.00
Credit memo- Collection of note by the bank for JMP Co. 480,000.00
Outstanding Checks 880,000.00
An analysis of the canceled checks returned with the bank statement revealed the following:
"Check for purchase of supplies was drawn for Php 60,000 but was recorded by JMP Co. as Php 90,000
"The manager of JMP Co. wrote a check for travelling expenses of Php 100,000 while out of town. The check
was not recorded.
December 31?(5 points)
11. What amount of cash in bank should be reported on
ledger on December 31?(5 points)
12. What amount was reported as Cash balance per
 Problem 1
JMP Co.'s records on Decembe 31, 2023 show the ff:
Cash on hand S76,000 00
2,016,000 00
Cash in bank- Curent account
11,520,00000
Cash in Bank- Peso savings deposit
115,20000
Cash in Bank- Dollar savings deposit (restricted)
4,608,000 00
Treasury Bil(purchased11//2023, maturing 2/28/2024) 2,880,000 00
Treasury Shares (purchased 12/31/2021, for reissuance on 2/28/2022)
Additional Information:
Decermter 28, 2024
"On December 28, 2023, JMP Co. issued a check amounting to Php 192,000.00. The check is dated
but recorded and delivered only on January 5, 2024.
"The pesO savings deposit includes a compensating balance of Php 80,000 which is
not legally restricted.
*Cash on hand includes Petty Cash fund amounting to 36,000.00 with the following details:
Currency and coins S,400.00
Replenished vouchers 18,000.00
Unreplenished vouchers 12,600.00
1. How much is the balance of Cash on Hand account as of December 31, 20237(2 points)
2. How much is the Cash in Bank Balance as of December 31, 2023?(2 points)
3. How much is the total Cash balance as of December 31 20237(2 points)
4. How much is the balance of Cash equivalents as of December 31, 2023?(2 points)
5. How much is the balance of Cash and Cash Equivalents as of December 31, 2023? (2 poits)

Problem 2
JMP Co. reported the following information on December 31, 2021:
3,600,000.00
Cash on Hand
180,000.00
Petty Cash Fund
7,200,000.00
Cash in Bank
3,600,000.00
Savings Deposit 14,580,000.00
Total
Cash on hand included the folowing:
insuficient fund but subsequently
a. Customer check of Php 100,000 returned by the bank December 26, 2021 dut to
redeposited and cleared by the bank on December 28, 2021.
check was recorded
b. Customer check for Php 150,000 dated December 28, 2021 received December 22, 2021. The
on the same date it was received.
The petty cash fund consisted of the following items:
Curency and coins 36,000.00
Employee IOU 10,000.00
Check drawn by JMP Co. payable to petty cashier 144,000.00
Cash in Bank included the following transaction:
a. Acheck dated and recorded December 22, 2021 amounting 500,000 was delivered to Payee on January 2, 2022
6. How much is the balance of Cash on hand on December 31, 2021?(2 points)
7 How much is the balance of Petty Cash Fund on December 31,
20217(2 points)
8 How much is the balance of Cash in Bank on December 31, 2021?(2 points)
9. How much is the balance of Savings Deposit on December 31, 2021?(2 points)
20. How much is the total Cash and Cash equivalents on December 31, 2021?(2 points)

Problem 3
JMP Co. provided the following information:
Balance per bank statement, December 31 2,232,000.00
504,000.00
Deposit of December 30 not recorded by the bank 18,000.00
Debit memo- Service charge
Credit memo- Collection of note by the bank for JMP Co. 540,000.00
990,000.00
Outstanding Checks
An analysis of the canceled checks returned with the bank statement revealed the following:
*Check for purchase of supplies was drawn for Php 60,000 but was recorded by JMP Co. as Php 90,000
of town. The check
*The manager of JMP Co. wrote a check for travelling expenses of Php 100,000 while out
was not recorded
11. What amount of cash in bank should be reported on December 31?(5 points)
12. What amount was reported as Cash balance per ledger on December 31?(5 points)