35. At year-end, YBC Company reported cash and cash equivalents which comprised of the following:

Cash on hand

P

500,000

Money order

150,000

Demand Deposit

4,000,000

Petty Cash Fund

Manager's Check

Traveler's Check

Certificate of Deposit

Postdated Customer Check

50,000

100,000

200,000

2,000,000

300,000

What total amount should be reported as "cash" at year-end?

36. Sterling Company provided the bank statement for the month of December which included the following information:

Ending balance, December 31

P

2,800,000

Bank service charge for December

12,000

Interest paid by bank to Sterling Company for December

10,000

In comparing the bank statement to its own cash records, the entity found the following:

Deposits made but not yet recorded by the bank

P

350,000

Checks written and mailed but not yet recorded by the bank

650,000

In addition, the entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000

What is the cash balance per ledger on December 31?

38. Light Company reported an imprest petty cash fund of P50,000 with the following details:

Currencies20,000

Coins2,000

Petty cash vouchers:

Gasoline payments for delivery equipment3,000

Medical supplies for employees1,000

Repairs of office equipment1,500

Loans to employees3,500

Check drawn by the entity payable to the order of Lads Puno,

Petty cash custodian, representing her salary15,000

An employee check returned by the bank for insufficiency of fund3,000

A sheet of paper with names of several employees together with

Contribution for a birthday gift of a co-employee. Attached

To the sheet of paper is a currency5,000

What amount of petty cash fund should be reported in the statement of financial position?

On December 31, 2019, Soo Company sold used equipment with carrying amount of P2,000,000 in exchange for a noninterest bearing note of P5,000,000 requiring ten annual payments of P500,000. The first payment was made on December 31, 2020.

The market interest for similar note was 12%. The present value of an ordinary annuity of 1 at 12% is 5.65 for ten periods and 5.33 for nine periods.

48. What is the carrying amount of the note receivable on December 31, 2019?

49. What is the gain on sale of equipment to be recognized in 2019?

50. What is the carrying amount of the note receivable on December 31, 2020?