At year-end, ANC Compnay reported cash and cash equivalents which comprised the following:

Cash on Hand 50,000

Demand Deposit 112,500

Certificate of Deposit 220,800

Postdated Customer Check 65,200

Petty cash fund 10,000

Traveler's check 33,500

Manager's check 55,500

Money Order 44,250

Required: What total amount should be reported as cash and cash equivalent at year-end?

ERAP Company reported inventory on December 31, 2019 at P1,228,175.00 based on a physical count of

goods priced at cost and before any necessary year-end adjustments relating to the following:

Included in the physical count were goods billed to a customer FOB Shipping point on December 30,

2019. These goods had a cost of 28,175.00 and were picked up by the carrier on January 2, 2020.

Goods shipped FOB Destination on December 28, 2019, from a vendor to ERAP were received and

recorded on January 3, 2020. The invoice cost was P50,000.

Required: What amount should be reported as inventory on December 31, 2019?

GULTIAN Company counted and reported the ending inventory on December 31, 2019 at 947,112.00

None of the following items were included when the total amount of the ending inventory was computed:

Goods located in the entity's warehouse that are on consignment from another entity 77,500

Goods sold by the entity and shipped FOB Destination were in transit on December

31, 2019 and received by the customer on January 2, 2020 35,800

Goods purchased by the entity and shipped FOB seller were in transit on December

31, 2019 and received by the entity on January 2, 2020. 10,228

Goods sold by the entity and shipped FOB Destination were in transit on December

31, 2019 and received by the customer on January 2, 2020 50,000

Required: What amount should be reported as inventory on December 31, 2019?

CPA Company had the following balances on December 31, 2019:

Cash in checking account 111,220

Cash in money market account 275,250

Treasury bill, purchased November 1, 2019

Maturing January 31, 2020 585,000

Time deposit purchased December 1, 2019

Maturing January 31, 2020 450,000

Required: What amount should be reported as cash and cash equivalents on December 31, 2019?

BSM Company provided the following information during the first year of operations:

Total merchandise purchases for the year 1,500,000

Merchandise inventory on December 31 600,000

Collections from customers 800,000

All merchandise was marked to sell at 40% above cost. All sales are on credit basis and all receivables are

collectible.

Required: What amount should be reported as accounts receivable on December 31?

XYZ Company provided the following information relating to current operations:

Accounts receivable, January 1 4,000,000

Accounts receivable collected 8,000,000

Cash sales 1,000,000

Inventory, January 1 4,800,000

Inventory, December 31 4,400,000

Purchases 8,000,000

Gross margin on sales 4,200,000

Required: What amount should be reported as accounts receivable on December 31?