Batman Corporation receives average daily cash receipts of P140,000. The finance manager has determined that the time period between the mailing of a check and its actual availability for corporate use is 4 days. What is the amount of cash being tied up because of the delay?  choose the letter of the correct answer a. P260,000.00 b. P360,000.00 c. P460,000.00 d. P560,000.00 e. P660,000.00

Q: PURE Company provided the following information with respect to its cash and cash equivalents on…

A: Unrestricted Cash & Cash Equivalent: Unrestricted cash and cash equivalents, refers to the…

Q: Jeanette Company provided the following information with respect to cash and cash equivalents on…

A: Unrestricted petty cash fund=Total-Expense receipts=50,000-30,000=20,000

Q: A Company provided the following information at year-end comprising the cash account:   Cash in…

A: Cash and cash equivalents consist of -  Cash in hand  cash at bank  travelers check managers check…

Q: Balance per bank P2,225,000 Deposit in transit P1,500,000 Outstanding check P 425,000 Bank service…

A: Statement of financial position or the Balance Sheet shows the actual balances of assets,…

Q: A surprise count of the petty cash fund of Jing Trading on July 4, 2021 showed the following:…

A: Correct amount of petty cash fund at June 30, 2021 = Currencies + Coins + Company check representing…

Q: At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000,…

A: Cash : Cash is a legal tender that are used as an exchange for goods , debt or service. Sometimes…

Q: GBV Co. is preparing its November 30, 2015 bank reconciliation statement. The following information…

A: Credit memos are those collections made by bank, which are not yet recorded in books of account.…

Q: In preparing the bank reconciliation for the month of May, Mickey Company provided the following…

A: Bank reconciliation statement: A bank reconciliation statement (BRS) is a statement which is used to…

Q: Tharsis Company provided the following information at the current year-end: P 30,000 5,000 150,000…

A: Cash & Cash Equivalents: The line item on the balance sheet that reflects the value of a…

Q: What total amount should be reported as “cash” at year-end?

A: Cash and cash equivalents are the items which are classified as the most liquid assets on the…

Q: The December 31, 2022 cash and cash equivalents of La Solar Co. includes the following items: Cash…

A: Note: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: 28. On April 2020, Grapes Company established an imprest petty cash fund for P20,000 by writing a…

A: The petty cash fund is established to pay small and regular expenses of the business.

Q: Archer Arrow Company examined its cash management policy and found that it takes an average of 5…

A: Answer -    Part 1 -  Calculation of Disbursement float - = Amount of Checks written per day *…

Q: At year-end, Slamdunk Company reported cash and cash equivalents which comprised the following:…

A:

Q: In preparing the bank reconciliation for the month of May, Mickey Company provided the following…

A: Here, they are asking for Adjusted cash at the bank so we do not need to prepare a complete bank…

Q: On December 31, 2018, Argentina Companyhas rhe following information concerning cash and cash…

A:

Q: BTS Company provided the following information on December 31, 2021: 500,000 20,000 Cash on hand…

A: Cash and cash equivalents refer to the amount held by a business organization in the form of hard…

Q: The following cash transactions occurred during the month of May: 青 Collection from customers:…

A: The bank reconciliation statement is prepared so as to adjust the balance of cash book and pass book…

Q: ABS Company showed the following information available as of December 31,2021 before any adjustments…

A: ABS Company's as of 31.12.2021  Petty cash fund = 29000 Petty cash book fund shows original balance…

Q: Taehyung Company reported a balance of P258,000 in its Cash account at the end of the month.  There…

A: Solution: Adjusted bank balance = Unadjusted bank balance + Deposit in transit - Outstanding checks…

Q: On April 1, 2021, CPA Co. established a petty cash fund for P80,000 by writing a check drawn against…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: adjusting entry related to cash at Dec 31 would include: Cr Expenses 1,500 Cr Receivables 6,000 Cr…

A: The answer for the multiple choice question and relevant working are presented hereunder : Trade…

Q: 46. How much is the correct cash balance at June 30? The cash account of the Siopao Corporation as…

A: Cash is one of the important liquid asset of the business, which is reported in balance sheet. It…

Q: How much should be the adjusted Cash in Bank balance as of December 31, 2020? The December 31, 2020…

A: Answer: Cash equivalents are the total value of cash on hand that includes items that are similar to…

Q: Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund…

A: A journal entry is the first step in recording financial transactions in the books of business…

Q: The books of ABC Corp disclosed a cash balance of P687,000 at Dec 31. Additional information showed…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the…

A: Introduction:  The most liquid current assets on a company's balance sheet are cash and cash…

Q: You were able to gather the following from the December 31, 2020 trial balance of PPP COMPANY: Cash…

A: Adjusted balance Adjusted balance refers to the balance which is obtained after making all the…

Q: Sanchez Company reported the following accounts on December 31, 2020: Cash on hand 1,000,000 Petty…

A:

Q: TRESE Co. provided the following information about the composition of its cash on December 31. 2020:…

A: Cash and cash equivalents refers to an item on the balance sheet which provides the details…

Q: Archer Arrow Company examined its cash management policy and found that it takes an average of 5…

A: Given Number of customer per day P80,000 Number of days checks received from customers is 4 days

Q: A customer in a bank has made a balance withdrawal transaction in the last 30 days. In the last 28…

A: Central tendency is the central value of the given frequency distribution, it is the representative…

Q: E6B. At year end, Paige Company had currency and coins in cash registers of $2,800, money orders…

A: Cash and cash equivalents means cash or assets that can be converted into cash immediately. Cash…

Q: The daily cash inflows of a company amount to $ 65,000.00. A recent analysis of their collections…

A: Collection of accounts in days means how much time in days it takes a company to collect the money…

Q: Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund…

A: These are part of current assets which  are short-term commitments that can be converted into cash…

Q: On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage, etc.…

Q: Henry Company had the following account balances on December 31, 2015. Petty cash fund P50,000 Cash…

A: Cash equivalents are easily convertible in cash.

Q: On December 31, 2020, Hunter X Hunter Company reported cash of P12,350,000 which comprised the…

A: Cash & cash equivalent is the most liquid asset of the company presented in the balance sheet…

Q: 31, The statement of financial position of Mandela 2020 shows cash balance of P900,000, It was found…

A: Cash represents the current assets that are reported in the balance sheet of the company.

Q: KORSTOCKS Company provided the following information on December 31, 2021. Cash on Hand…

A: Cash and cash equivalents on December 31, 2021 = Cash on Hand + Philippine Bank Current Account  +…

Q: Company Deli writes checks averaging P30,000 per day that require 4 days to clear. By what amount…

A: Let us assume that the company has just started the operations.  Now company would be wrriting…

Q: A company has P1,922,000 balance per books, P311,000 deposit in transit, P253,000 outstanding…

A: Adjusted cash balance = balance per books + credit memo - NSF check

Q: EFG Company established a petty cash fund of P90,000 on December 1, 2021. As of December 31, 2021,…

A: The petty cash fund is established for day to day cash expenses of the business.

Q: 9. On December 31, 2022, the cash account of Mobile Legends Company shows the following composition:…

A: Cash and Cash Equivalent It is the company's assets that are cash or or cash equivalent , which can…

Q: Jakarta Company provided the following information at month-end: Cash in the bank per bank statement…

A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…

Q: The December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand…

A: The term cash and cash equivalents mean the cash the company is having or such assets held by the…

Q: Argentina Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund…

A: Journal is the book of original entry in which all the financial transactions of the business are…

Q: Bramble Corp. has the following items at year-end: Cash in bank $32800 Petty cash 390 Short-term…

A: Cash and cash equivalents are to be reported in assets side of balance sheet which are cash in form…

Q: You were able to gather the following from the December 31, 2020 trialbalance of PPP COMPANY: Cash…

A: 1) Cash on Hand   Particulars Amount   Balance as on 31/12/20 500,000 Less Cheque Uncleared…