no need for any solutions just the answers

PROBLEM 1 (Question 1 of 2) The cash balance of Sando Corporation on December 31, 2020, totalling to P180,000, includes the following: A customer's check for P15,000, dated December 30, 2020. A customer's check for P10,000, dated January 3, 2021. A customer's check for P8,000, dated June 2, 2020. A negative balance on its BPI account for P40,000. The balance is due to overdraft. A P50,000 balance on its BDO account, including a long term loan of P30,000. A 5% compensating balance is required for the P30,000, and the restriction is formal. The compensating balance is included in the balance presented under cash. How much from the customer's checks must be excluded from the cash balance? 18,000 25,000 15,000 10,000 PROBLEM 1 (Question 2 of 2) The cash balance of Sando Corporation on December 31, 2020, totalling to P180,000, includes the following: A customer's check for P15,000, dated December 30, 2020. A customer's check for P10,000, dated January 3, 2021. A customer's check for P8,000, dated June 2, 2020. A negative balance on its BPI account for P40,000. The balance is due to overdraft. AP50,000 balance on its BDO account, including a long term loan of P30,000. A 5% compensating balance is required for the P30,000, and the restriction is formal. The compensating balance is included in the balance presented under cash. What is the adjusted balance of cash on December 31, 2020? 202,000 162,000 200,500 160,500 PROBLEM 2 (Question 1 of 3) Pluto Corporation is maintaining a petty cash fund under an imprest fund system. The fund, for P20,000, was established last November 2, 2020 On November 30, 2020, the breakdown of the fund was as follows: Currency and coins Transportation expense Postage stamps Supplies expense Office repairs expense What is the entry on December 1, 2020? al Petty cash fund 10,000 Transportation expense 2.000 Supplies expense 1,500 Office repairs expense 16,000 Cash in bank 29.500 E) 2.000 Transportation expense Supplies expense 1.500 Office repairs expense 16,000 Cashin 19,500 bank d) No entry Entry A Entry B Entry PROBLEM 2 (Question 2 of 3) Pluto Corporation is maintaining a petty cash fund under an imprest fund system. The fund, for P20,000, was established last November 2, 2020 On November 30, 2020, the breakdown of the fund was as follows Currency and coins Transportation expense Postage stamps Supplies expense Office repairs expense What is the adjusting journal entry on December 31, 2020? a) 3,000 Transportation expense Postage stamps 1,400 Supplies expense 4.000 Office repairs expense 18.000 Petty cash fund 16.400 Transportation expense b) 3,000 Postage stamps 1,400 Supplies expense 4,000 Office repairs expense 18.000 Cash in bank 16,400 Petty cash fund 3,600 Cash in bank 3.600 d) No entry Entry D Entry A Entry PROBLEM 2 (Question 3 of 3) Pluto Corporation is maintaining a petty cash fund under an imprest fund system. The fund, for P20,000, was established last November 2, 2020. On November 30, 2020, the breakdown of the fund was as follows: Currency and coins Transportation expense Postage stamps Supplies expense Office repairs expense What is the balance of the petty cash fund on December 31, 2020? 3,000 3,600 20,000 30,000 PROBLEM 3 (Question 1 of 2) CAKE COMPANY sells a variety of imported goods. By selling on credit, Cake cannot expect to collect 100% of its accounts receivable. At December 31, 2019, Cake reported the following in its statement of financial position: Accounts Receivable P 2,197,500 Less: Allowance for bad debts (133,500) Accounts receivable, net P 2,064,000 During the year ended December 31, 2020, Cake earned sales revenue of P537,702,500 and collected cash of P528,070,500 from customers. Assume bad debt expense for the year was 1% of sales revenue and that Cake wrote off uncollectible accounts receivable totalling P5,439,500. What is the accounts receivable balance at December 31, 2020? 17,269,000 11,829,500 2,197,500 6,390,000 PROBLEM 3 (Question 2 of 2) CAKE COMPANY sells a variety of imported goods. By selling on credit, Cake cannot expect to collect 100% of its accounts receivable. At December 31, 2019, Cake reported the following in its statement of financial position: Accounts Receivable P 2,197,500 Less: Allowance for bad debts (133,500) Accounts receivable, net P 2,064,000 During the year ended December 31, 2020, Cake earned sales revenue of P537,702,500 and collected cash of P528,070,500 from customers. Assume bad debt expense for the year was 1% of sales revenue and that Cake wrote off uncollectible accounts receivable totalling P5,439,500. What is the December 31, 2020 balance of the Allowance for Bad Debts account? 5,377,025 204,525 5,644,025 200,500 PROBLEM 4 BROWNIES CO. reported the following information at the end of its first year of operations, December 31, 2020: Bad Debts Expense for 2020 P 271,000 Uncollectible accounts written off during 2020 35,400 Net realizable value of accounts receivable 895,000 What is the accounts receivable balance at December 31, 2020? 1,201,400 895,000 1,130,600 1,166,000 PROBLEM 5 (Question 2 of 4) On January 2, 2020, an entity received a promissory note with a face value of P10,000,000, and an interest rate of 12%. The note is due on December 31, 2024. The effective rate on January 2, 2020 is 10%. (Note: use four decimal places for present value factors) What is the interest income in 2022? 1,063,376 1,049,713 1,075,796 1,034,684 PROBLEM 5 (Question 3 of 4) On January 2, 2020, an entity received a promissory note with a face value of P10,000,000, and an interest rate of 12%. The note is due on December 31, 2024. The effective rate on January 2, 2020 is 10%. (Note: use four decimal places for present value factors) What is the carrying value of the note on December 31, 2022? 10,181,529 10,346,845 10,497,132 10,633,756 PROBLEM 5 (Question 4 of 4) On January 2, 2020, an entity received a promissory note with a face value of P10,000,000, and an interest rate of 12%. The note is due on December 31, 2024. The effective rate on January 2, 2020 is 10%. (Note: use four decimal places for present value factors) What is the carrying value of the note on December 31, 2023? 10,633,756 10,181,529 10,497,132 10,346,845