Determine the amount of Cash and Cash equivalents. * 60,000 Undeposited Collections Cash in Bank- PCIB- Savings 270,000 Cash in bank- PNB checking account Cash in bank - PNB (overdraft) Undeposited NSF check received from customer Dec. 15, 2019 Undeposited check from customer dated Dec. 15, 2019 Undeposited check from customer dated Jan. 15, 2019 Undeposited check from customer dated Feb 15, 2020 Cash in Bank- PCIB (Payroll Fund) Cash in Bank- PCIB (Bond Sinking Fund) 135,000 (32,000) 15,000 35,000 25,000 20,000 375,000 500,000 IOUS from officers 20,000 $50,000 Cash in Foreign Bank Petty Cash Fund including unreplenished vouchers of P21,000 30,000 Three-month BSP treasury bill 250,000 Investment in debt securities 350,000 n your audit of its cash account, you have ascertained the following items to be of importance: a. Undeposited Collections contain Postdated check to a supplier dated December 18, 2019 and is undelivered. b. Cash in bank PCIB- Savings has a compensating balance that is not legally restricted in the amount of P15,000 c. The exchange rate at the date of transaction related to the Cash in Foreign Bank is acquired is $1 = Php 49.50 d. The exchange rate at the balance sheet date related to the Cash in Foreign Bank is $1 - Php 50 e. The Cash in Foreign Bank is deemed to be restricted f. The Bond Sinking Fund is held in payment of a related Bonds Payable due on December 31, 2021 g. The treasury bill is maturing on March 31, 2020 and is acquired on Dec. 31, 2019 h. The investment in debt securities is maturing on January 18, 2020 and was acquired on May 18, 2019.
Determine the amount of Cash and Cash equivalents. * 60,000 Undeposited Collections Cash in Bank- PCIB- Savings 270,000 Cash in bank- PNB checking account Cash in bank - PNB (overdraft) Undeposited NSF check received from customer Dec. 15, 2019 Undeposited check from customer dated Dec. 15, 2019 Undeposited check from customer dated Jan. 15, 2019 Undeposited check from customer dated Feb 15, 2020 Cash in Bank- PCIB (Payroll Fund) Cash in Bank- PCIB (Bond Sinking Fund) 135,000 (32,000) 15,000 35,000 25,000 20,000 375,000 500,000 IOUS from officers 20,000 $50,000 Cash in Foreign Bank Petty Cash Fund including unreplenished vouchers of P21,000 30,000 Three-month BSP treasury bill 250,000 Investment in debt securities 350,000 n your audit of its cash account, you have ascertained the following items to be of importance: a. Undeposited Collections contain Postdated check to a supplier dated December 18, 2019 and is undelivered. b. Cash in bank PCIB- Savings has a compensating balance that is not legally restricted in the amount of P15,000 c. The exchange rate at the date of transaction related to the Cash in Foreign Bank is acquired is $1 = Php 49.50 d. The exchange rate at the balance sheet date related to the Cash in Foreign Bank is $1 - Php 50 e. The Cash in Foreign Bank is deemed to be restricted f. The Bond Sinking Fund is held in payment of a related Bonds Payable due on December 31, 2021 g. The treasury bill is maturing on March 31, 2020 and is acquired on Dec. 31, 2019 h. The investment in debt securities is maturing on January 18, 2020 and was acquired on May 18, 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Determine the amount of Cash and Cash equivalents.
Undeposited Collections
Cash in Bank- PCIB- Savings
Cash in bank- PNB checking account
60,000
270,000
135,000
Cash in bank - PNB (overdraft)
Undeposited NSF check received from customer Dec. 15, 2019
Undeposited check from customer dated Dec. 15, 2019
Undeposited check from customer dated Jan. 15, 2019
Undeposited check from customer dated Feb 15, 2020
Cash in Bank- PCIB (Payroll Fund)
(32,000)
15,000
35,000
25,000
20,000
375,000
Cash in Bank- PCIB (Bond Sinking Fund)
500,000
IOUS from officers
20,000
Cash in Foreign Bank
$50,000
Petty Cash Fund including unreplenished vouchers of
P21,000
30,000
Three-month BSP treasury bill
250,000
Investment in debt securities
350,000
n your audit of its cash account, you have ascertained the following items to be of importance:
a. Undeposited Collections contain Postdated check to a supplier dated December 18, 2019 and is undelivered.
b. Cash in bank PCIB- Savings has a compensating balance that is not legally restricted in the amount of
P15,000
c. The exchange rate at the date of transaction related to the Cash in Foreign Bank is acquired is $1 = Php 49.50
d. The exchange rate at the balance sheet date related to the Cash in Foreign Bank is $1 Php 50
e. The Cash in Foreign Bank is deemed to be restricted
f. The Bond Sinking Fund is held in payment of a related Bonds Payable due on December 31, 2021
g. The treasury bill is maturing on March 31, 2020 and is acquired on Dec. 31, 2019
h. The investment in debt securities is maturing on January 18, 2020 and was acquired on May 18, 2019.
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