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B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: P52,780 22,400 6,500 Bills and coins on hand Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island 120 2000 36,000 8,000 800 400 22,000 P151,000 Total The correct cash and cash equivalents balance on December 31,2021 is

B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: P52,780 22,400 6,500 Bills and coins on hand Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island 120 2000 36,000 8,000 800 400 22,000 P151,000 Total The correct cash and cash equivalents balance on December 31,2021 is

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.9MCE
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B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: Bills and coins on hand P52,780 22,400 6,500 Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island Total 120 2000 36,000 8,000 800 400 22,000 P151,000 The correct cash and cash equivalents balance on December 31,2021 is c. P97,530 a. P98,900 b. P98,730 d. P98,330 C. The statement of financial position of company presents the following financial assets at December 31,2021: Bank cheque account=P58,400 Bank Savings account (collectable immediately) = P23,440. Cash=P10,000 Common stocks on Entity Z, one of the most traded assets in Country A,s stock exchange, purchased by the airline to speculate =P2,715. • Oil price derivative entered into by the entity to hedge the commodity price risk of the anticipated future purchased of oil for use in the entity's operating business=P6,720 • A gold price derivative entered into by the entity to speculate=P9,880 • Treasury bonds issued by the government country A =P8,500.The entity acquired the bonds from the government one week before the entity's reporting date .The bonds mature 2 months after the date of acquisition ( ję they are two-months bonds.) • Treasury bonds issue by the government of Country A =P6,300.The entity acquired period. bonds.) The bonds 15months after the date of acquisitions (ie they are 15months In the absence of evidence to the contrary, the entity's total cash and cash equivalent at December 31,2021is : a. P98,560 b. P100,340 c. P109,775 d. P107,060
Transcribed Image Text:B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: Bills and coins on hand P52,780 22,400 6,500 Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island Total 120 2000 36,000 8,000 800 400 22,000 P151,000 The correct cash and cash equivalents balance on December 31,2021 is c. P97,530 a. P98,900 b. P98,730 d. P98,330 C. The statement of financial position of company presents the following financial assets at December 31,2021: Bank cheque account=P58,400 Bank Savings account (collectable immediately) = P23,440. Cash=P10,000 Common stocks on Entity Z, one of the most traded assets in Country A,s stock exchange, purchased by the airline to speculate =P2,715. • Oil price derivative entered into by the entity to hedge the commodity price risk of the anticipated future purchased of oil for use in the entity's operating business=P6,720 • A gold price derivative entered into by the entity to speculate=P9,880 • Treasury bonds issued by the government country A =P8,500.The entity acquired the bonds from the government one week before the entity's reporting date .The bonds mature 2 months after the date of acquisition ( ję they are two-months bonds.) • Treasury bonds issue by the government of Country A =P6,300.The entity acquired period. bonds.) The bonds 15months after the date of acquisitions (ie they are 15months In the absence of evidence to the contrary, the entity's total cash and cash equivalent at December 31,2021is : a. P98,560 b. P100,340 c. P109,775 d. P107,060
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