Cash and Cash
Equivalents
SLIDESMANIA
Prepared by Erin Julia Balanag
The following were taken from the records of SML Co. as of December 31,20x1:
Check drawn but not yet issued to payees P 120,000
Customer’s checks dated January 15,20x2 35,000
Customer’s check dated December 31,20x1 40,000
SML’s Check dated Jan. 15, 20x2 already mailed to payee 16,000
Cash on Hand 130,000
Employees’ checks representing unclaimed salaries, 14,000
held by treasurer
Petty cash fund (fully replenished) 20,000
SLIDESMANIA
How much of the items listed will be included in SML’s Dec. 31,20x1 cash?
Check drawn but not yet issued to payees ₱ 120,000
Customer’s check dated December 31,20x1 40,000
SML’s Check dated Jan. 15, 20x2 already mailed to payee 16,000
Cash on Hand 130,000
Employees’ checks representing unclaimed salaries, held by treasurer 14,000
Petty cash fund (fully replenished) 20,000
Total of Items listed under Cash ₱ 340,000
SLIDESMANIA
Zorba Co. had the following balances at December 31, 20x2:
Cash in checking amount 350,000
Cash in money-market account 250,000
Treasury bill, purchased 12/1/x2, maturing 2/28/x3 800,000
Treasury bond, purchased 3/1/x2, maturing 2/28/x3 500,000
SLIDESMANIA
What amount should Zorba Co. report as cash and cash equivalents in Dec. 31,20x2
statement of financil position?
Cash in checking amount 350,000
Cash in money-market account 250,000
Treasury bill, purchased 12/1/x2, maturing 2/28/x3 800,000
Total Cash and Cash equivalents 1,400,000
SLIDESMANIA
Jackson Company had the following cash balances at December 31, 20x2:
Cash in banks P 375,000
Petty cash fund (all in bills and coins) 5,000
Cash in banks includes P125,000 of compensating balances against short-
term borrowing arrangements at December 31, 2002. The compensating
balances are legally restricted as to withdrawal by Jackson. In the current asset
section of Jackson’s December 31, 2002, balance sheet.
SLIDESMANIA
What total amount should be reported as Cash?
Cash in banks ( 375,000 – 125,000 ) ₱ 250,000
Petty cash fund (all in bills and coins) 5,000
Total Cash ₱ 255,000
SLIDESMANIA
The December 31, 2017 trial balance of Agee Company includes the following accounts:
Petty cash fund 70,000
Current account - Metro Bank 4,000,000
Current account - BPI (overdraft) (250,000)
120-day Money market placement – RCBC 1,000,000
Time deposit- PNBRCBC 2,000,000
Additional information:
● The petty cash fund includes unreplenished December 2017 petty cash expense vouchers for P15,000 and an
employee check for P5,000 dated January 31, 2018.
● A check for P100,000 was drawn against Metro Bank current account dated and recorded December 27, 2017 but
delivered to payee on January 10 2018. REVERTED BACK PO MAAM
SLIDESMANIA
● The PNB time deposit is set aside for land acquisition in early January 2018
What total amount should be reported as Cash?
Petty cash fund (70,000 – 15,000-5,000) 50,000
Current account - Metro Bank (4,000,000 + 100,000) 4,100,000
Total Cash ₱ 4,150,000
SLIDESMANIA
Thank you!
SLIDESMANIA
