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How much is the correct balance of cash

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Reference no: EM132902571

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Q1. The Company has reported the following items under Cash:

Cash on hand - P124,000

Cash in bank (excludes legally restricted withdrawal of P100,000) - P850,000

180-day Certificates of Deposit - P50,000

How much is the correct cash balance?

Q2. The following data were part of the Cash and Cash Equivalent balance of P620,000:

Cash in B Bank (Payroll account) - P200,000

Cash in C Bank - (P14,000)

IOUs signed by employees - P16,500

Treasury bill - P80,000

How much is the correct balance of Cash?

Q3. The following data were NOT included in the reported cash balance of P1,052,000:

Money market fund with checking privileges - P90,000

360-day time deposit - P150,000

Undeposited collections - P37,000

How much is the correct balance of Cash?

Q4. You are given the following which were NOT part of the P974,000 Cash balance:

Post-dated customer's check received - P29,000

Post-dated company's own check issued - P45,000

Stale checks issued - P10,000

Cash surrender value - P75,000

How much is the correct balance of Cash?

Reference no: EM132902571

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