Chapter 1 Problem 3-5
Problem 3-5
1. Cash on hand 500,000
Postdated check (100,000)
Adjusted cash on hand 400,000
2. Petty cash fund 20,000
Unreplenished petty cash expenses ( 2,000)
Postdated employee check ( 3,000)
Adjusted petty cash 15,000
3. Security Bank current account 1,000,000
Postdated company check delivered 200,000
Adjusted balance 1,200,000
4. Cash on hand 400,000
Petty cash fund 15,000
Security Bank current account 1,200,000
PNB current account No. 1 400,000
PNB current account No. 2 ( 50,000)
BSP Treasury bill – 60 days 3,000,000
Total cash and cash equivalents 4,965,000
*The BPI Time deposit of P2,000,000 is shown as noncurrent investment because it is
restricted for land acquisition.
5. Accounts receivable 100,000
Cash on hand 100,000
Expenses 2,000
Receivable from employee 3,000
Petty cash fund 5,000
Security Bank current account 200,000
Accounts payable 200,000
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