Chapter 1 Problem 3-7
1. Cash on hand 200,000
NSF customer check ( 35,000)
Postdated customer check ( 15,000)
Adjusted cash on hand 150,000
2. Petty cash fund:
Currency and coins 5,000
3. Philippine Bank current account 5,000,000
Undelivered company check 25,000
Postdated company check delivered 45,000
Adjusted balance 5,070,000
4. Cash on hand 150,000
Petty cash fund 5,000
Philippine Bank current 5,070,000
Manila Bank current 4,000,000
Asia Bank time deposit 2,000,000
Total cash and cash equivalent 11,225,000
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5. Accounts receivable 50,000
Cash on hand 50,000
Receivable from officer 2,000
Expenses 12,000
Cash short or over 1,000
Petty cash 15,000
Philippine Bank current 70,000
Accounts payable 70,000
City Bank current 100,000
Bank overdraft 100,000
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