Problem 4The following items were included as cash in the books of Roa Company:P (1,200)Checking account at Security BankChecking account at BPIChecking account at Čity Trust used for paymentof salaries5,335Postage stampsEmployee's postdated checkIOU from an employee5,5001072,300200A check marked DAIFPostal money orderPetty cash fund (P324 in expense receipts)Certificate of time deposit with BPIA gold ring surrendered as security by a custewho lost his wallet (at market value)1,2505005005,0001,5004. The correct amount that should be reported as cash is:

The amount to be included in the cash for reporting as current asset for business in the balance…

Problem 4 The following items were included as cash in the books of Roa Company: P (1,200) 5,335 Checking account at Security Bank Checking account at BPI Checking account at Čity Trust used for payment of salaries 5,500 Postage stamps Employee's postdated check IOU from an employee 107 2,300 200 A check marked DAIF 1,250 Postal money order Petty cash fund (P324 in expense receipts) Certificate of time deposit with BPI A gold ring surrendered as security by a customer who lost his wallet (at market value) 500 500 5,000 1,500 4. The correct amount that should be reported as cash is:

Problem 4 The following items were included as cash in the books of Roa Company: P (1,200) 5,335 Checking account at Security Bank Checking account at BPI Checking account at Čity Trust used for payment of salaries 5,500 Postage stamps Employee's postdated check IOU from an employee 107 2,300 200 A check marked DAIF 1,250 Postal money order Petty cash fund (P324 in expense receipts) Certificate of time deposit with BPI A gold ring surrendered as security by a customer who lost his wallet (at market value) 500 500 5,000 1,500 4. The correct amount that should be reported as cash is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From the give Problem 2, What is the adjusted cash in bank on December 31?
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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 following data pertains to ABC Co: Petty cash fund, 5,000 (2,000 is in the form of petty cash vouchers) Cash in BPI 100,000 Cash on hand, 10,000 (includes post dated check of 1,000) Savings Account, BPI 79,000 Current Account, BPI (2,000) in overdraft Determine the amount of cash 194,000 192,000 189,000 110,000
Problem 4 The following items were included as cash in the books of Roa Company: P (1,200) 5,335 Checking account at Security Bank Checking account at BPI Checking account at City Trust used for payment of salaries 5,500 - 107 Postage stamps Employee's postdated check IOU from an employee A check marked DAIF Postal money order Petty cash fund (P324 in expense receipts) Certificate of time deposit with BPI A gold ring surrendered as security by a customer who lost his wallet (at market value) 2,300 200 1,250 500 500 5,000 1,500 4. The correct amount that should be reported as cash is:
kes Problem 6-24A (Algo) Petty cash fund LO 6-4 [The following information applies to the questions displayed below] Austin Company established a petty cash fund by issuing a check for $238 and appointing Steve Mack as petty cash custodian, Mack had vouchers for the following petty cash payments during the month. Stamps Miscellaneous itens Employee supper money Taxi fare. Window-washing service $42 15 57 37 72 There was $12 of currency in the petty cash box at the time it was replenished. The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund. (2) reimbursements made to employees, (3) recognition of expenses, and (4) replenishment of the fund. Assume the company uses a traditional approach to petty cash expense recognition and replenishment.
QUESTION 9 The Gatedown Company's bank statement has an ending cash balance of $14,110.00. The cash account in the general ledger has a balance of $12,477.00. Based on the following reconciling items, prepare a bank reconciliation. a) Bank service charge of $20.00 b) Deposit in transit $3,190.00 c) A check was returned NSF $645.00 d) Outstanding check $688.00 e) Note collected by the bank, credit memoranda, $4,800.00 What is the total of subtractions to arrive at the book balance? A) 645.00 B) 555.00
Pls answer the last 3 items (8, 9 and 10)
7. Journalize the entries to record the following: established a petty cash fund of $350 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, 116; Sep 1 Sep 30 postage $100. Record any discrepancy in the cash short and over account. D Focus
3. The April 30 bank statement of 10A Company showed a balance of $$24,635 and the following memoranda: Credits Collection of $1,250 note plus interest $50 Interest earned on checking account $65 Debits $75 NSF check: Banana Wang $635 Safety deposit box rent: 10A Company's cash account in the general ledger had a balance of $26,100 on April 30 and other information is as follows: (1) Cash receipts for April 30 recorded on the company's books were $6,695 but this amount does not appear on the bank statement. (2) The total amount of checks still outstanding at April 30 amounted to $6,575, including $2,000 certified checks. (3) Check No. 119 payable to 10B Company was recorded in the cash payments journal and cleared the bank for $248 but the payment should be $284. Instructions (a) (b) Prepare the bank reconciliation at April 30. Prepare any adjusting entries necessary as a result of the bank reconciliation. (Hint: Record Safety deposit box rent as Miscellaneous (Misc.) Expense)
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