Problem 7-10 (AICPA Adapted) Tranvia Company revealed the following information on December 31, 2017: 350,000 Cash in checking account 750,000 Cash in money market account Treasury bill, purchased November 1, 2017 3,500,000 maturing January 31, 2018 Time deposit purchased December 1, 2017 4,000,000 maturing March 31, 2018 What amount should be reported as cash and cash equivalents on December 31, 2017? a. 1, 100,000 b. 3,850,000 . C. 4,600,000 d. 8,600,000 Problem 7-11 (LAA) Dahlia Company had the following account balances on December 31, 2017: Cash on hand and in bank 3,000,000 Cash legally restricted for addition to plant expected to be disbursed in 2018 2,000,000 Bank certificate of deposit due February 1, 2018 purchased September 1, 2017 1,000,000 What amount should be reported as cash and cash equivalents on December 31, 2017? a. 3,000,000 b. 5,000,000 C. 6,000,000 d. 4,000,000 206Problem 7-12 (LAA) Abigail Company provided the following information at year-end: Cash on hand 500,000 Cash in bank 4,000,000 Petty cash fund 50,000 Commercial paper with maturity of 2 months 1,000,000 Treasury bill with maturity of 6 months 2,000,000 Postdated customer checks 200,000 What total amount should be reported as "cash and cash equivalents"? a. 7,550,000 b. 5,550,000 c. 4,550,000 d. 5,750,000 Problem 7-13 (LAA) Affable Company provided the following information at year-end comprising the cash account: Cash in bank - demand deposit account 5,000,000 Cash on hand 400,000 Postage stamps unused 5,000 Certificate of time deposit with maturity of 3 months 1,500,000 Money order 50,000 Manager check 100,000 Traveler check 1,000,000 Postdated customer check 500,000 What total amount should be reported as "cash" at year-end? a. 8,050,000 b. 7,050,000 C. 6,550,000 d. 6,450,000 207Problem 7-14 (AICPA Adapted) Thor Company provided the following data on December 31, 2017: 4,000,000 Checkbook balance 5,000,000 Bank statement balance Check drawn on Thor's account, payable to supplier, dated and recorded on December 31, 2017 but not 500,000 mailed until January 31, 2018 2,000,000 Cash in sinking fund On December 31, 2017, what amount should be reported as "cash" under current assets? a. 4,500,000 b. 5,500,000 c. 3,500,000 d. 6,500,000 Problem 7-15 (AICPA Adapted) Joana Company had the following account balances on December 31, 2017: Petty cash fund 50,000 Cash on hand 500,000 Cash in bank - current account 4,000,000 Cash in bank - payroll account 1,000,000 Time deposit 2,000,000 Cash in bank - restricted account for plant addition, expected to be disbursed in 2018 Cash in sinking fund set aside for bond payable due 500,000 June 30, 2018 1,500,000 The petty cash fund included unreplenished December 2017 P5,000. petty cash expense vouchers of P5,000 and employee IOU of The cash on hand included a P100,000 check payable to the entity dated January 31, 2018. What total amount should be reported as cash and cash equivalents on December 31, 2017? a. 6,940,000 . b. 8,940,000 C. 7,940,000 d. 7,440,000 208Problem 7-16 (PHILCPA Adapted) At year-end, Rabid Company reported a cash balance of P5,250,000 which included the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check of P200,000 1,300,000 Cash in bank 2,500,000 Cash in sinking fund 1,000,000 Vouchers paid out of collections, not yet recorded 250,000 IOUs signed by employees 150,000 Total 5,250,000 What total amount should be reported as "cash" in the statement of financial position at year-end? a. 3,650,000 b. 3,850,000 C. 4,650,000 d. 4,050,000 Problem 7-17 (AICPA Adapted) On December 31, 2017, Kibitzer Company had the following balances in the bank accounts it maintains at First Bank: Checking account # 101 1,750,000 Checking account # 201 ( 100,000) Time deposit account - 30 days 250,000 90-day treasury bill, due February 28, 2018 500,000 180-day treasury bill, due March 15, 2018 800,000 On December 31, 2017, what total amount should be reported as cash and cash equivalents? a. 1,900,000 b. 2,000,000 . c. 2,400,000 wd. 3,200,000 209Problem 7-18 (AICPA Adapted) Aruba Company had a checkbook balance on December 31, 2017 of P8,000,000 and held the following items in the safe: Check payable to Aruba, dated January 5, 2018, 2,000,000 included in December 31 checkbook balance Check payable to Aruba, deposited December 20, and included in December 31 checkbook balance, but returned by bank on December 30, stamped "NSF". The check was redeposited January 2, 2018, 500,000 and cleared January 3, 2018. Check drawn on Aruba's account and payable to a vendor, dated and recorded December 31 but not mailed until January 15, 2018 1,500,000 Cash on hand - undeposited collections 400,000 Change fund 40,000 Time deposit for plant expansion 1,000,000 Treasury bill 2,500,000 Money market placement 3,000,000 Postage stamps unused 10,000 1. What total amount should be reported as cash on December 31, 2017? a. 7,400,000 b. 7,440,000 C. 8,440,000 d. 7,450,000 2. What total amount should be reported as cash equivalents on December 31, 2017? a. 6,500,000 b. 3,000,000 c. 5,500,000 d. 2,500,000 210Problem 7-21 (AICPA Adapted) Kindred Company had the following account balances on December 31, 2017. 50,000 Petty cash fund 4,000,000 Cash in bank - current account 2,000,000 Cash in bank - sinking fund 500,000 Cash on hand Money market placement with maturity of 3 months 1,000,000 The cash on hand included a P100,000 check payable to Kindred Company dated January 15, 2018. In exchange for a guaranteed line of credit, the entity has agreed to maintain a minimum balance of P200,000 in the unrestricted current bank account. What total amount should be reported as "cash" on December 31, 2017? a. 6,450,000 b. 4,450,000 C. 7,450,000 d. 6,250,000 Problem 7-22 (LAA) Takeable Company had the following account balances on December 31, 2017: Cash on hand and in bank 5,000,000 Cash restricted for equipment acquisition in early next year Time deposit 2,000,000 Saving deposit set aside for dividend payable on 1,500,000 December 31, 2018 1,000,000 What total amount should be reported as "cash" on December 31, 2017? a. 7,500,000 b. 9,500,000 C. 6,000,000 d. 8,000,000 212