The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following: Bills and coins on hand P52,780 Traveler’s check 22,400 Credit memo from supplier’s for purchase returns 6,500 Postage stamps 120 Petty cash including paid cash vouchers of P1,650 2,000 Balance in Savings Account with a bank closed by the BSP 36,000 Customer’s check dated January 15,2022 8,000 Money Order 800 IOU of an employee 400 CA Balance in BPI 22,000 Total P151,000 The correct cash and cash equivalents balance on December 31,2022 is P98,900 P98,790 P97,530 P98,330

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 2SEQ

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The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following:

Bills and coins on hand    P52,780
Traveler’s check        22,400
Credit memo from supplier’s for purchase returns         6,500
Postage stamps            120
Petty cash including paid cash vouchers of P1,650         2,000
Balance in Savings Account with a bank closed by the BSP 36,000
Customer’s check dated January 15,2022 8,000
Money Order 800
IOU of an employee 400
CA Balance in BPI 22,000
Total P151,000

The correct cash and cash equivalents balance on December 31,2022 is

P98,900

P98,790

P97,530

P98,330

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