15A company has the following:general cash: $1,500,000petty cash: $1,500travel advances: $2,000money market funds with checking privileges: $500,000Which amount should this company report as cash and cash equivalents on the balance sheet?$1,501,500$2,003,500O $2,000,000O $2,001,500

To ascertain the amount that should be reported as cash and cash equivalents, we would consider what…

Answered: 15 A company has the following: general…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 5CE

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In reviewing the Accounts Receivable, the Net Cash Realizable Value is __ before a write off of $1500. What is the Net Cash Realizable Value after the write off?a. $16,000b. $1500c. $17300d. $14500
A company has P1,922,000 balance per books, P311,000 deposit in transit, P253,000 outstanding checks, P118,000 credit memo and P65,000 NSF check. What is the adjusted cash balance? A. P1,585,000B. P1,787,000C. P1,975,000D. P1,722,000
The breakdown of the Cash and Cash Equivalents account of C Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
Consider the following: Cash in Bank - checking account of $19100, Cash on hand of $510, Post-dated checks received totaling $3540, and certificates of deposit totaling $123000. How much should be reported as cash in the balance sheet? O $23150. O $135400. O $19100. O $19610.
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
Presented below are the amount entered in the cash receipts book and cash payments book respectively Cash Receipts Cash Payments May 3 225,000 Chk No. 0901 56,250 May 7 168,750 Chk No. 0902 94,500 May 8 146,250 Chk No. 0903 208,125 May 31 54,000 Chk No. 0904 72,000 Chk No. 0905 29,250 Note: In the bank statement, the P19,500 credit on Mar. 30 is a deposit of Hades Company erroneously recorded by the bank under the account of Sparta Company. Beginning cash balance per general ledger is P20,625. Required: 1. Prepare a bank reconciliation 2. Prepare the necessary adjusting journal entries.
Use the following to answer questions 1 – 4 Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Cash or Cash Equivalent? (Yes or No) Item 1 Accounts receivable 2 30 day treasury bill 3 Checks 4.93 day Certificate of Deposit
What is the correct cash balance?
The December 31, 2023, cash and cash equivalents of Calamba Co. includes the following items: P Cash on hand Petty cash fund 50,000 20,000 Security Bank account PNB Current account No.1 PNB Current account No.2 BSP treasury bill - 60 days BPI time deposit - 30 days 1,250,000 1,450,000 (25,000) 3,500,000 1,000,000 Other information: a. The cash on hand includes a customer postdated check of P5,000, NSF customer check of P10,000 and GCash of P5,000. b. The petty cash fund includes unreplenished petty cash vouchers for P3,000 and an employee check for P5,000 dated January 5, 2024. c. A check for P250,000 was drawn against Security Bank account dated January 5, 2024, delivered to the payee and recorded December 31, 2023. d. The BPI time deposit is set aside for acquisition of land to be used as factory site. Compute the following: 1. Cash on hand 2. Petty cash fund 3. Security Bank current account 4. Cash and cash equivalents

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15 A company has the following: general cash: $1,500,000 petty cash: $1,500 travel advances: $2,000 money market funds with checking privileges: $500,000 Which amount should this company report as cash and cash equivalents on the balance sheet? $1,501,500 $2,003,500 O $2,000,000 O $2,001,500