Problem 5. On December 31, 2014, AGNES Company has the following information concerning its cash and cash equivalents and some other items: Coins and currency Checks receive from customer Certificate of deposit, term: 12 months Petty cash fund Postage stamps Bank A acct.1, checking account balance Post-dated check, customer Money order from customer Cash in savings account Bank draft from customer Utility deposit to gas company, refundable Cash advance received from customer NSF check, C. company Cash advance to company executive, collectible upon demand Bank A-acct 2, checking account, overdraft IOUS from employees 50,000 600,000 800,000 4,000 600 2,100,000 10,000 15,000 100,000 40,000 5,000 8,000 20,000 200,000 20,000 12,000 7. What amount of cash and cash equivalents should AGNES Company report in its December 31, 2014 statement of financial position?
Problem 5. On December 31, 2014, AGNES Company has the following information concerning its cash and cash equivalents and some other items: Coins and currency Checks receive from customer Certificate of deposit, term: 12 months Petty cash fund Postage stamps Bank A acct.1, checking account balance Post-dated check, customer Money order from customer Cash in savings account Bank draft from customer Utility deposit to gas company, refundable Cash advance received from customer NSF check, C. company Cash advance to company executive, collectible upon demand Bank A-acct 2, checking account, overdraft IOUS from employees 50,000 600,000 800,000 4,000 600 2,100,000 10,000 15,000 100,000 40,000 5,000 8,000 20,000 200,000 20,000 12,000 7. What amount of cash and cash equivalents should AGNES Company report in its December 31, 2014 statement of financial position?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Problem 5. On December 31, 2014, AGNES Company has the following information concerning its cash
and cash equivalents and some other items:
Coins and currency
Checks receive from customer
50,000
600,000
800,000
Certificate of deposit, term: 12 months
Petty
cash
fund
4,000
Kostage stamps
Bank A acct.1, checking account balance
Post-dated check, customer
Money order from customer
Cash in savings account
Bank draft from customer
600
2,100,000
10,000
15,000
100,000
Utility deposit to gas company, refundable
Cash advance received from customer
40,000
5,000
8,000
check, C. comcd
Cash advance to company executive, collectible upon demand
Bank A-acct 2, checking account, overdraft
JOUS from employees
NSF
20,000
200,000
company
20,000
12,000
7. What amount of cash and cash equivalents should AGNES Company report in its December 31, 2014
statement of financial position?

Transcribed Image Text:Problem 2. At year end of 2015, SUPERA Company reported cash and cash equivalents which comprised
the following:
Cash on hand
Demand deposit
Certificate of deposit
Postdated customer check
500,000
4,000,000
2,000,000
300,000
50,000
200.000
Petty cash fund
Traveler's check
Manager's check
Money order
Time deposit, purchased December 15, 2015
and due March 15, 2016
100.000
150,000
2,000,000
The cash on hand included a P200,000 check payable to JICEL, dated January 15, 2016.
3. What total amount should be reported as "cash" at year-end?
4. What total amount should be reported as "cash equivalents" at year end?
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