How much should be reported as cash on December

Assignment Help Financial Accounting

Reference no: EM132800857

Questions -

Q1. Company A had the following account balances on December 31, 2019:

Cash in bank A - rank and file payroll account 200,000

Cash in bank B - savings account 123,456

Cash in bank C - checking account1 2,500,555

Cash in bank D - savings account 2,000

Cash in bank E - checking account2 676,777

Cash in bank F - managerial payroll account 711,711

1. Set aside for payment of bonds payable, acquired on October 14, 2014, due on December 31, 2020.

2. Set aside for purchase of inventories.

How much should be reported as cash on December 31, 2019?

Q2. On December 31, 2019, Company A had the following:

Petty cash fund 200,000

Cash in bank A 123,456

Time deposit acquired on April 1, 2019, maturing on January 1, 2020 2,500,555

Treasury bills maturing on December 31, 2020, acquired on December 31, 2019 2,000 Cash in bank B1 676,777

Cash in bank C2 711,711

1. Set aside for purchase of vehicles

2. Frozen account by the Bureau of Internal Revenue

How much should be reported as cash on December 31, 2019?

Q3. On December 31, 2019, Company A had the following:

Petty cash fund 200,000

Cash in bank A 123,456

Time deposit acquired on April 1, 2019, maturing on January 1, 2020 2,500,555

Treasury bills maturing on December 31, 2020, acquired on December 31, 2019 2,000 Cash in bank B1 676,777

1. Set aside for purchase of building

How much should be reported as current assets on December 31, 2019?

Q4. On December 31, 2019, Company A had the following:

Petty cash fund 200,000

Cash in bank A1 123,456

Time deposit acquired on April 1, 2019, maturing on January 1, 2020 2,500,555

Treasury bills maturing on December 31, 2020, acquired on December 31, 2019 253,000 Treasury bills maturing on February 2, 2020, acquired on December 31, 2019 676,777

1. Set aside for purchase of building

How much should be reported as cash equivalents on December 31, 2019?

Q8. On December 31, 2019, Company A had the following:

Cash in bank A - Savings 200,000

Cash in bank B - Checking (10,000)

Cash in bank B - Savings 10,000

Cash in bank A - Current 250,000

Cash in bank A - Checking 58,000

How much should be reported as liability on December 31, 2019?

Reference no: EM132800857

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