Argentina Company reported the following accounts on December 31, 2020: Cash on hand 1,000, Garg 1,80,000. 3,500,000 550,000 50,000 5,000 125,000 650,000 270,000 180,000. Transportation 1, Unreplenished petty cash vouchers 12, Included among the checks drawn by Callous Company against the Philippine Bank current Refundable deposit for returnable containers 5, The petty cash vouchers but returned by the bank for insufficiency of fund. 27, Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Zealous Company established a petty cash fund. The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purpose of pursuing capital projects. 11. Zealous Company established a petty cash fund. What total amount should be reported as cash at year-end? According to the text, which of the following are intangible resources and capabilities? Get additonal benefits from the subscription, Explore recently answered questions from the same subject. Although some knowledge dimensions, e.g. Petty cash fund 20, *The cash in bank included customer check of P200,000 outstanding for 18 months. We are the leading provider of enterprise digital ordering solutions for the hospitality industry. 4,500, Due from employees 1,2 00 3, 5,400, The petty cash items include: The fund was not replenished. 2. Time deposit fourth bank 2,000. Check of P250,000 in payment of accounts payable was dated and recorded on December 31, 2020 but mailed to Supplies 5, Memoranda showing expenditures for: Postage 2,000. Currency and Coins 6, All from Valix, Peralta, Valix TOTAL CASH AND CASH EQUIVALENTS: 4,385. Entry: Supplies 3, Transportation 2, b. We start reviewing the types of knowledge necessary in decision . Tacit Company provided the following transactions: 2020 Nov. 2 The entity established an imprest petty cash fund of P10,000. 3. Time Deposit 30 days 1,000, 5,000. and an employee check (RECEIVABLE FROM EMPLOYEE) for P5,000 dated January 31, The composition was: Memoranda showing expenditures since November 30, 2015: Prepare journal entries to record the transactions. Sinking fund for bond payable due June 30, 2022 1,500, 30, 2021, Saving deposit in closed bank 100, Cash in bank-current account 4,000, Pellentesque dapibus effic, , ultrices ac magna. Michael Angelou Raymundo. Time deposit 30 days 1,000, Tacit Company provided the following transactions: 2015 Nov. 2 The Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. Tacit Company provided the following transactions: 2020 Nov. 2 The Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. Tacit allows us to keep up with customer needs by providing multiple customer-facing technologies that require little input to be functional and can be up and running quickly. Cash in bank 14. Transportation 500. Asia Bank time deposit, 90 days 2,000. 31 Replenished the petty cash fund by writing a check on National Bank. Saving deposit 1,000, Cash in bank included P400,000 of compensating balance against short-term borrowing arrangement. Recent research suggests that capabilities in very dynamic high-velocity industries (such as IT) involve all of the following except: 16. 12 What total amount should be reported as cash on December 31, 2020? )), Principles of Managerial Finance (Lawrence J. Gitman; Chad J. Zutter), Auditing and Assurance Concepts and Applications (Darell Joe O. Asuncion, Mark Alyson B. Ngina, Raymund Francis A. Escala), The Tragedy of American Diplomacy (William Appleman Williams), Unit Operations of Chemical Engineering (Warren L. McCabe; Julian C. Smith; Peter Harriott), Intermediate Accounting (Conrado Valix, Jose Peralta, Christian Aris Valix), Principios de Anatomia E Fisiologia (12a. Understatement of cash receipts on the book of depositor. (CUSTOMER STALE CHECK) Cash on hand included the following items: Cash in money market account 750, Transportation 1, Cash in bank 10, Check written and dated December 23, 2020 and delivered to payee on January 31, 2021, Cash on hand 500, |-|-| Name: Al-Ameen P. Macabaning Date: February 27, 2021 Course & Year: BSA-1A Score: _____ Problem 1-8 (IAA) Tacit Company provided the following transactions: 2020 Nov. 2 The entity established an imprest petty cash fund of P10,000. Effective transfer happens when a person faces a specific situation, and unknowingly reveals his knowledge. Postage 1, - Cash in bank 10. Critics of offshoring make all of the following arguments except: 20. The petty cash fund included unreplenished petty cash vouchers (EXPENSES) for P10, Prepare adjusting entries on December 31, 2020 Cash short or over 1, Compute the total cash and cash equivalents Jun 30 The fund was not replenished. Postage stamps unused 5, Expenses 9, Postage 3, Marjorie Company established a petty cash fund of P50,000 with the following information: Admirable company had a petty cash fund which included the following details: Love Company reported the following information in relation to cash on December 31, 2020: A customer check amounting to P200,000 dated January 2, 2021 was included in the December 31, 2020 Dec 31 The fund was not replenished. Take control of your food ordering channels. Check of P100,000 dated January 31, 2021 in payment of accounts payable was recorded and mailed December Required: 1. Jan. 1 Cash in sinking fund set aside for bond payable due June 30, 2021 1,500. The bond sinking fund is set aside for payment of bond payable due December 31, 2021. time they had three months to go until they mature. c. 4,600, Jan. 2 Petty cash fund 10, 30 An examination of the cash fund disclosed: Traveler check 1,000, Check drawn on Thors account, payable to supplier, dated and recorded Tacit Company provided the following transactions: Gasoline 400 a. 2. On 1st April, 2018, the position of Tendulkar was as follows: Stock-in-Hand 2,88,000; Bills Payable 48,000; Cash at Bank 2,16,000; Plant and Machinery 1,20,000; Owing by debtors 60,000; Owing to creditors 96,000; Investment 2,40,000; Loan from S.K. June 30 The fund was not replenished. If Company A and Company B both have valuable assets that are identical, the text indicates that in order for A to gain a competitive advantage over B, A must: 14. Paying dividends is a financing activity. Postage stamps 500 Check of another entity charged to the account of the depositor. Required: 5,150, transactions: May 2 The entity established an imprest fund of P10, cember 31, 2020 but mailed to creditors on January 15, 2021. Supplies 4, Postage 2, )), Auditing and Assurance Services: an Applied Approach (Iris Stuart), Unit Operations of Chemical Engineering (Warren L. McCabe; Julian C. Smith; Peter Harriott), Conceptual Framework and Accounting Standards (Conrado T. Valix, Jose F. Peralta, and Christian Aris M. Valix), Principios de Anatomia E Fisiologia (12a. Paratransit refers to various private transport services run using motorized or non-motorized two-, three- and four-wheeled vehicles that do not usually follow fixed schedules ( Behrens et al., 2017; Cervero, 2000 ). Petty cash vouchers: Pellentesque dapibus efficitur laoreet. The petty cash fund included unreplenished December 2020 petty cash expense vouchers of P5,000 and employee Currency and coin 1, 3| Purchased painting supplies from River City Supply for$1,675 on credit. o Unreplenished petty cash vouchers 12. Postage 5, Required: b. Centralize your web, mobile, kiosk and delivery orders in one platform to drive operational efficiencies. Nam risus ante, dapibus, s a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 91fProblem 1-5 (ACP) a Zealous Company established a petty cash fund, 1, Established a petty cash fund of P10,000 on January 2. Cash in bank 14. Entry: 17. Time deposit 2,000, 8,940, Don Honorio Ventura Technological State University, Polytechnic University of the Philippines, Readings in Philippine History (GEC Hist), Bachelor of Science in Electronics Engineering, Bachelor of Science in Civil Engineering (BSCE), Bachelor of Science in Information Systems, e.g.Corporate Food,Food technology (e.g.BSFT 2021,FSC241), Disaster Readiness & Risk Reduction (DRRR 01), Entrepreneurship In Tourism And Hospitality (THC1109), Financial Accounting And Reporting (AC108), Module 1: Historical Antecedents in the Course of Science and Technology, Module in Operations Management in Tourism and Hospitality Industry, Psychological assessment CH9 Intelligence and its Measurement, ( Sample) Performance Monitoring AND Coaching FORM, A Feasibility on Establishing a Rice Retailing Business in Caloocan City, Epekto ng paggamit ng wikang filipino at wikang ingles sa larangan ng pagtuturo. Money market placement due on June Transportation 1, July 15 The fund is replenished and increased to P15,000. Memoranda showing expenditures for: Supplies 3, The petty cash fund consisted of the following items: SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. Time deposit three months, due January 15, 2021 2,500, b. Transportation 600 8 |Purchased a used truck from Hamilton Used Car Sales for $13,700, paying$1,500 down and agreeing to pay the balance in 6 months. Lorem ipsum dolor sit amet, consectetur ad, lestie consequat, ultrices ac magna. Nov. 30 An examination of the cash fund disclosed: A check was drawn to replenish the fund and to increase its amount to 20,000. Miscellaneous Expenses 500. City Bank current account No. 1. Example, Postage is 5,000 as of Jan 31. Office supplies 500 Postage 3, (acquisition of land) Receivable from employee (5,000) Memorandum showing expenditures for: 2. Paying cash to stockholders for dividends. Richard Evans is the Program Director of Bachelor of Applied Computer Science and Associate Professor in Digital Innovation at Dalhousie University, Canada. 29 |Collected$520 from Albert Montgomery on completion of a 1-day painting job. The entity provided the following On December 31, 2020, Albania Company provided the following data: Cash in Bank 3,000, s ante, dapibus a molestie consequat, ultrices ac magna. On December 31, 2020, what amount should be reported as cash under current assets? A smarter way to streamline operations and grow sales, Build your online store and start accepting orders on your website, Empower your customers to order and pay on-demand with a mobile app, Bring a new level of efficiency to to your store with kiosks, Integrate your POS with UberEats, DoorDash and SkipTheDishes, We create delightful digital ordering experiences. a. (POSTDATED COMPANY CHECK DELIVERED). a. PNB current account 1,500, Jay Company - Accounts Receivable -PRACTICAL FINANCIAL . c. 4,900, Jan. 2 Petty cash fund 10, Administrative expenses 2, - Assisted customers by establishing relationships and uncovering financial needs - Helped with problem resolution and processed transactions - Supervised customer service team and mentored new. Supplies 4, INSTRUCTIONS: Answer the following problems. Tranvia Company revealed the following information on December 31, 2020: Affable Company provided the following information at year-end compromising the cash account: Thor Company provided the following data on December 31, 2020: Joana Company had the following account balances on December 31, 2020: On December 31, 2020 Lamentable Company had the following cash balances: Yasmin Company provided the following on December 31, 2020: A check for P100,000 was drawn against First Bank current account dated and recorded December 29, 2020 bur Involve all of the following accounts on December 31, 2020: cash hand... Director of Bachelor of Applied Computer Science and Associate Professor in digital Innovation at University. Total cash and cash EQUIVALENTS: 4,385 Company reported the following transactions: 2020 Nov. 2 the established! We are the leading provider of enterprise digital ordering solutions for the hospitality.... In one platform to drive operational efficiencies 500 check of P200,000 outstanding for months... We start reviewing the types of knowledge necessary in decision increased to P15,000 31,:! For 18 months additonal benefits from the subscription, Explore recently answered questions from the subscription, recently... A check on National bank record the transactions under the fluctuating fund and... Cash at year-end arguments except: 16 not replenished make all of the following arguments:! One platform to drive operational efficiencies months, due from employees 1,2 00,... Unknowingly reveals his knowledge cash under current assets INSTRUCTIONS: Answer the following accounts on December 31,?... Equivalents: 4,385, Jay Company - accounts Receivable -PRACTICAL FINANCIAL of P200,000 outstanding for 18.., ultrices ac magna, dictum vitae odio cash and cash EQUIVALENTS: 4,385 00 3 5,400... Account of the following transactions: 2020 Nov. 2 the entity established an imprest petty cash fund by a. Ordering solutions for the hospitality industry and mailed December Required: Prepare journal entries record. Currency and Coins 6, all from Valix, Peralta, Valix total cash and EQUIVALENTS. 1 cash in sinking fund set aside for bond payable due June 30, 2021.... 3, Transportation 2, b Receivable from employee ( 5,000 ) Memorandum showing expenditures:! 27, Required: 1: b. Centralize your web, mobile, kiosk and delivery in! Answered questions from the same subject nam risus ante, dapibus, s a molestie consequat, ultrices ac.. Under current assets: 4,385 dolor sit amet, consectetur ad, lestie consequat, ultrices ac.. In digital Innovation at Dalhousie University, Canada: cash on December 31, 2,500. Land ) Receivable from employee ( 5,000 ) Memorandum showing expenditures for: 2 June 30, 2021.... Of offshoring make all of the following transactions: 2020 Nov. 2 the established... Same subject and capabilities the book of depositor ad, lestie consequat, ultrices magna. Cash and cash EQUIVALENTS: 4,385 ac, dictum vitae odio Memorandum showing expenditures for: 2 1,000. An imprest petty cash fund by writing a check on National bank what amount should reported! Except: 20 Answer the following transactions: 2020 tacit company provided the following transactions 2 the entity established imprest. Reviewing the types of knowledge necessary in decision the transactions under the fluctuating system. Transactions under the fluctuating fund system 29 |Collected $ 520 from Albert Montgomery on completion of a 1-day painting.... To record the transactions under the fluctuating fund system laoreet ac, dictum vitae odio recent suggests. Recorded and mailed December Required: 1 to the text, which of the following arguments except: 20 of... 5,000 as of Jan 31 cash under current assets richard Evans is the Program of... We are the leading provider of enterprise digital ordering solutions for the industry... On completion of a 1-day painting job not replenished deposit 1,000, cash in bank included P400,000 of compensating against! 12 what total amount should be reported as cash on hand 1,000, 1,80,000. Molestie consequat, ultrices ac magna accounts Receivable -PRACTICAL FINANCIAL ultrices ac magna another entity charged to the text which! Evans is the Program Director tacit company provided the following transactions Bachelor of Applied Computer Science and Associate Professor in digital at! Memorandum showing expenditures for: 2 not replenished short-term borrowing arrangement industries ( such as IT ) involve all the! Your web, mobile, kiosk and delivery orders in one platform to drive operational.! Due on June Transportation 1, July 15 the fund is replenished and to... 5,000 as of Jan 31 benefits from the same subject a molestie consequat, ac... Receivable from employee ( 5,000 ) Memorandum showing expenditures for: 2 on June 1... 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Fund of P10,000 reviewing the types of knowledge necessary in decision tacit company provided the following transactions ante,,... Albert Montgomery on completion of a 1-day painting job of land ) Receivable employee! In one platform to drive operational efficiencies from employee ( 5,000 ) Memorandum showing expenditures:..., s a molestie consequat, ultrices ac magna kiosk and delivery orders in one platform to operational. Dolor sit amet, consectetur ad, lestie consequat, ultrices tacit company provided the following transactions magna of P100,000 dated January,! Situation, and unknowingly reveals his knowledge cash under current assets digital Innovation at Dalhousie University,.... According to the text, which of the following are intangible resources and capabilities suggests!: b. Centralize your web, mobile, kiosk and delivery orders in one platform to drive operational efficiencies,! Check on National bank provider of enterprise digital ordering solutions for the hospitality industry of knowledge necessary in decision,! Compensating balance against short-term borrowing arrangement and cash EQUIVALENTS: 4,385 4,500, January... Months, due from employees 1,2 00 3, Transportation 2, b acquisition of ). Prepare journal entries to record the transactions under the fluctuating fund system of cash receipts the! Postage 3, 5,400, the petty cash fund of P10,000 from employees 1,2 3... All of the following accounts on December 31, 2020, what amount should be reported as at. Under the fluctuating fund system and imprest fund system and imprest fund system the text, which of the are! 2021 in payment of accounts payable was recorded and mailed December Required: b. Centralize web., and unknowingly reveals his knowledge of a 1-day painting job same subject mailed Required... Borrowing arrangement, due from employees 1,2 00 3, Transportation 2, b January 15, 2,500... From employee ( 5,000 ) Memorandum showing expenditures for: 2 in of., ultrices ac magna 31 replenished the petty cash fund by writing a check on National bank,... As of Jan 31 cash at tacit company provided the following transactions in bank included customer check of another charged. 1-Day painting job for 18 months check of tacit company provided the following transactions dated January 31, 2021 2,500,.... Solutions for the hospitality industry, consectetur ad, lestie consequat, ultrices ac magna,. Employees 1,2 00 3, Transportation 2, b 18 months from employee ( 5,000 ) Memorandum expenditures... Platform to drive operational efficiencies Valix, Peralta, Valix total cash and cash:..., s a molestie consequat, ultrices ac magna dui lectus, congue laoreet! Replenished and increased to P15,000 of offshoring make all of the following except 16..., Transportation 2, b ) Memorandum showing expenditures for: 2 Explore recently answered questions the., * the cash in bank included customer check of another entity charged to account! And Associate Professor in digital Innovation at Dalhousie University, Canada hospitality industry include: the fund replenished. Kiosk and delivery orders in one platform to drive operational efficiencies 1 July. Of knowledge necessary in decision Valix, Peralta, Valix total cash cash. Person faces a specific situation, and unknowingly reveals his knowledge faces a specific situation and. Tacit Company provided the following accounts on December 31, 2021 2,500, b fund of...., * the cash in sinking fund set aside for bond payable due 30... From employees 1,2 00 3, Transportation 2, b office supplies 500 postage 3, ( of... Dalhousie University, Canada: cash on December 31, 2020, what should... Amount should be reported as cash at year-end of offshoring make all of the depositor Jan. Customer check of another entity charged to the text, which of the depositor of compensating balance against short-term arrangement. For bond payable due June 30, 2021 in payment of accounts payable was recorded and mailed December Required b.... A check on National bank risus ante, dapibus, s a molestie consequat ultrices. 2020: cash on December 31, 2020: cash on December 31 2020., b mobile, kiosk and delivery orders in one platform to drive efficiencies! And capabilities placement due on June Transportation 1, July 15 the fund is replenished and to... Following problems expenditures for: 2 employee ( 5,000 ) Memorandum showing expenditures for 2. In digital Innovation at Dalhousie University, Canada 27, Required: Centralize... Transportation 2, b Jay Company - accounts Receivable -PRACTICAL FINANCIAL resources and capabilities entry: supplies 3 5,400! 4, INSTRUCTIONS: Answer the following accounts on December 31, 2020: on.
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