Cash and Cash Equivalents Items

Problem 1

The following information has been extracted from the accounting records of the Lakers Corporation:

1. Cash on hand (undeposited sales receipt)P1,020

2. Certificate of deposit25,000

3. Customer's note receivable1,000

4. Reconciled balance in First Standard Bank Checking account(350)

5. Reconciled balance in Prime National Bank Checking account9,350

6. Balance in Rural Bank savings account8,560

7. Customer's postdated check1,350

8. Employee travel advances1,600

9. Cash in bond sinking Fund1,200

10. Bond sinking fund investments8,090

11. Postage stamps430

Required: Determine the balance in Lakers Cash account.