Reference no: EM133140376

Questions -

Q1. The related data of Bahamas Company at December 31, 2020:

Cash in BPI P795,800

Cash in BDO 650,000

Cash in 6-month SSS money market 200,000

Cash in sinking fund maturing March 31, 2021 375,000

Cash set aside for Long term investments to be paid January 31, 2021 900,000

Cash set aside for small by demand expenses 10,000

How much are the Cash and cash equivalents on December 31, 2020?

Q2. The related data of Colombia Company:

Cash balance, September 30 per bank statement P257,500

Cash balance per general ledger 264,900

Deposit made on September 30 not recorded by the bank 150,000

Note collected by the bank 20,000

Outstanding checks 125,800

Debit memo on service charge 5,000

The entity recorded a disbursement check of P86,800 instead of P88,600

How much is the adjusted cash balance?

Q3. Sweden Company provided the following information for the month of December:

Balance per bank statement December 31 P1,525,875

Bank service charge for December 3,600

Interest paid by the bank to the entity for December 12,800

Deposit made but not yet recorded by the bank 520,000

Checks written but not yet recorded by the bank 485,000

The entity discovered that it had drawn and erroneously recorded a check for P89,700 that should have been recorded for P98,700.

How much is the cash balance per ledger on December 31, 2021?

Q4. Oklahoma Company prepared the following bank reconciliation on March 31:

Balance per bank statement, March 31 P 900,000

Deposit in transit 1,275,000

Outstanding checks -980,000

Balance per book statement, March 31 P1,195,000

Data per bank statement for April are as follows:

Deposits P980,000

Disbursements 850,000

All reconciliation on March 31 cleared through the bank in April.

Outstanding checks on April 30 totaled P298,000 and Deposit-in transit amounted to P785,300.

Using the proof of cash, how much is the adjusted cash in the bank on April 30?