Jane Company provided the following information at month-end: Cash in bank per bank statement Deposit in transit Outstanding checks, including certified check of P200,000 Amount erroneously credited by bank to Jane's account Note collected by bank for Jane Company, including interest of P100,000 Service charge for the current month NSF checks of customers returned by bank Error in recording a check in the book. The correct amount as paid by the bank is P100,000 instead of P200,000 as recorded in the book Saving deposit in other bank closed by BSP Currency and coins on hand Petty cash fund 8,000,000 1,200,000 1,500,000 150,000 1,100,000 20,000 500,000 100,000 1,000,000 900,000 50,000

Q: What should the net change in cash section of the statement of cash flows always reconcile with?

A: Cash flows statement is a summary statement which provides details of all the cash inflows and cash…

Q: Cash vs. Cash Equivalence

A: Cash  Cash Equivalents  Cash is money in the form of currency. This includes all bills, coins, and…

Q: What are the considerations for recording and recognizing cash discounts received?

A: Cash discounts, also known as sales discounts or prompt payment discounts, are reductions in the…

Q: What are the major sources of cash (inflows) in a statement of cash flows? What are the major uses…

A:

Q: How is IRR calculated with equal net cash inflows?

A:

Q: What are the three primary categories of cash flows?

A:

Q: cash and cash equivalents include

A: Introduction: Cash is used to buy goods and services and to pay off debts. Items that do not qualify…

Q: The total cash receipts have to be put in the final part?

A: The cash receipts means the amount of money received either through cash mode or bank.

Q: What is the difference between the sources (in nows) and uses (out nows) of cash?

A: The question is based on the concept of cash flow statement and cash flow analysis for a particular…

Q: Explain the term cash equivalents with examples.

A: Cash equivalents: Assets which are highly liquid in terms of quick payment and near to due date are…

Q: How do I calculate cash provided by operations?

A: Cash provided by the operations = Cash flow from operations = EBIT x (1 - Tax rate, T) + Non cash…

Q: how is liquidity determines in cash collection period

A: Liquidity refers to the ability of a company to meet its short-term obligations with cash or cash…

Q: Discuss the concept of cash equivalents? (short answer)

A: Cash Equivalent Cash and cash equivalent are highly liquid current Assets.  Cash is the liquid of…

Q: What are the different risks associated in the accounting of cash

A: The element of risk arises in each and every area and how well we can minimise or reduce the risk is…

Q: What is a "proof of cash? What purpose does it serve?

A: A four-column bank statement prepared by auditors is called proof of cash. It has a detailed…

Q: accounting on cash basis

A: Accounting on cash basis is one of the two methods of accounting.

Q: What are the components of cash ?

A: Required  What are the components of cash.

Q: Site an examples of cash equivalent and discuss each how it became cash equivalents.

A: Cash Equivalents: Cash equivalents are investment assets or securities with a high credit quality…

Q: Where is cash received shown in the statement of cash flows?

A: Cash Flow Statement refers to the account statement that outlines amount of cash and cash…

Q: Explain the possible restrictions on cash and their implications for classification in the balance…

A: Restricted Cash Restricted cash is define as the cash is not freely available for the company to…

Q: How do I find what the net increase or decrease is in cash on a Statement of Cash Flow?

A: Add the net cash flows from all three activities of statement of cash flows (i.e. operating…

Q: Is an investment in Treasury bills always classified as a cash equivalent? Explain

A: Cash Flow Statement:   It is a financial statement prepared by a company to report their cash…

Q: Describe cash equivalents

A: Cash equivalent means that amount which can be easily convertible into cash with any loss of value.…

Q: why is commercial paper considered as cash equivalent?

A: Cash equivalent includes: Commercial paper Certificate of deposits Treasury bills Money market…

Q: What are cash equivalents? Provide two examples. Whyare these items often combined with cash for the…

A:

Q: Which is an appropriate method of preparing a common-size cash fl ow statement? A . Show each item…

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: Why is cash management important?

A: Cash management is a technique used to manage cash of the entity. It helps in managing the cash that…