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6. Yerojin Company provide the folowing data on December 31, 2022: Petty cash fund P 12,500 Cash on hand 250,000 Current account 625,000 Cash in sinking fund Money market placement Savings deposit - set aside for dividend payable on June 30, 2022 750,000 s00,000 125,000 The petty cash fund included unreplenished petty cash vouchers of PS,000. The cash on hand included a customer check of P100,000 received on December 15, 2021 but dated January 15, 2022. The sinking fund is restricted for the payment of bonds payable that is due on July 31, 2023. What is the amount of cash and cash equivalents should be reported on December 31, 2022? A 907,000 C 1,657,500 D. 2,157,500 B. 1,407,500

6. Yerojin Company provide the folowing data on December 31, 2022: Petty cash fund P 12,500 Cash on hand 250,000 Current account 625,000 Cash in sinking fund Money market placement Savings deposit - set aside for dividend payable on June 30, 2022 750,000 s00,000 125,000 The petty cash fund included unreplenished petty cash vouchers of PS,000. The cash on hand included a customer check of P100,000 received on December 15, 2021 but dated January 15, 2022. The sinking fund is restricted for the payment of bonds payable that is due on July 31, 2023. What is the amount of cash and cash equivalents should be reported on December 31, 2022? A 907,000 C 1,657,500 D. 2,157,500 B. 1,407,500

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
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6. Yerojin Company provide the following data on December 31, 2022: Petty cash fund P 12,500 Cash on hand 250,000 Current account 625,000 Cash in sinking fund 750,000 Money market placement Savings deposit - set aside for dividend payable on June 30, 2022 500,000 125,000 The petty cash fund included unreplenished petty cash vouchers of P5,000. The cash on hand included a customer check of P100,000 received on December 15, 2021 but dated January 15, 2022. The sinking fund is restricted for the payment of bonds payable that is due on July 31, 2023. What is the amount of cash and cash equivalents should be reported on December 31, 2022? A 907,000 B. 1,407,500 C 1,657,500 D. 2,157,500 7. Hindu Company had the following account balances at December 31, 2022: Bond sinking fund cash for bonds payable due June 30, 2023 P 1,000,000 Cash restricted for additions to plant expected to be disburse in 2023 2,000,000 Preference share redemption fund (redemption date May 31, 2024) 2,500,000 Pension fund 900,000 Savings and demand deposits 5,000,000 Currency and coins 200,000 Time deposits 500,000 Cash in bank included P1,000,000 compensating balance against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal by Gee. What amount should be reported as total cash on December 31, 2022? A. 6,200,000 8. 5,200,000 C 4,200,000 D. 6,700,000
Transcribed Image Text:6. Yerojin Company provide the following data on December 31, 2022: Petty cash fund P 12,500 Cash on hand 250,000 Current account 625,000 Cash in sinking fund 750,000 Money market placement Savings deposit - set aside for dividend payable on June 30, 2022 500,000 125,000 The petty cash fund included unreplenished petty cash vouchers of P5,000. The cash on hand included a customer check of P100,000 received on December 15, 2021 but dated January 15, 2022. The sinking fund is restricted for the payment of bonds payable that is due on July 31, 2023. What is the amount of cash and cash equivalents should be reported on December 31, 2022? A 907,000 B. 1,407,500 C 1,657,500 D. 2,157,500 7. Hindu Company had the following account balances at December 31, 2022: Bond sinking fund cash for bonds payable due June 30, 2023 P 1,000,000 Cash restricted for additions to plant expected to be disburse in 2023 2,000,000 Preference share redemption fund (redemption date May 31, 2024) 2,500,000 Pension fund 900,000 Savings and demand deposits 5,000,000 Currency and coins 200,000 Time deposits 500,000 Cash in bank included P1,000,000 compensating balance against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal by Gee. What amount should be reported as total cash on December 31, 2022? A. 6,200,000 8. 5,200,000 C 4,200,000 D. 6,700,000
5. The cash account in the current asset section of the statement of financial position of Restoration Company showed a balance of P55,500. It was found to include the following items: Petty cash fund (P100 is in the form of paid vouchers) Checking account balance in the BPI Company, per bank statement (a P2,500 check is still outstanding) P 500 25,500 Undeposited receipts, including a post-dated check for P500 Currencies and coins awaiting deposit Bond sinking fund - cash Check drawn by management, returned by bank marked NSF 12,000 5,500 10,000 2,000 The correct cash balance for Restoration Company's statement of financial position is C. 42,400 D. 40,000 A. 43,000 B. 42,900
Transcribed Image Text:5. The cash account in the current asset section of the statement of financial position of Restoration Company showed a balance of P55,500. It was found to include the following items: Petty cash fund (P100 is in the form of paid vouchers) Checking account balance in the BPI Company, per bank statement (a P2,500 check is still outstanding) P 500 25,500 Undeposited receipts, including a post-dated check for P500 Currencies and coins awaiting deposit Bond sinking fund - cash Check drawn by management, returned by bank marked NSF 12,000 5,500 10,000 2,000 The correct cash balance for Restoration Company's statement of financial position is C. 42,400 D. 40,000 A. 43,000 B. 42,900
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