Problem 5. On December 31, 2014, AGNES Company has the following information concerning its cashand cash equivalents and some other items:Coins and currencyChecks receive from customer50,000600,000800,000Certificate of deposit, term: 12 monthsPettycashfund4,000Kostage stampsBank A acct.1, checking account balancePost-dated check, customerMoney order from customerCash in savings accountBank draft from customer6002,100,00010,00015,000100,000Utility deposit to gas company, refundableCash advance received from customer40,0005,0008,000check, C. comcdCash advance to company executive, collectible upon demandBank A-acct 2, checking account, overdraftJOUS from employeesNSF20,000200,000company20,00012,0007. What amount of cash and cash equivalents should AGNES Company report in its December 31, 2014statement of financial position? Problem 2. At year end of 2015, SUPERA Company reported cash and cash equivalents which comprisedthe following:Cash on handDemand depositCertificate of depositPostdated customer check500,0004,000,0002,000,000300,00050,000200.000Petty cash fundTraveler's checkManager's checkMoney orderTime deposit, purchased December 15, 2015and due March 15, 2016100.000150,0002,000,000The 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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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?

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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