1 You were able to gather the following from the December 31, 2005 trial balance of Peso Corporation in connection with your audit of the company: Cash on hand 372,000 Petty cash fund 10,000 BPI current account 950,000 Security Bank current account No. Add: Deposit in transit P 175, 10. k. Proceeds from cash sales of P60,000 for December 18 were stolen. AUDIT TECHNIQUES - Cash and Cash Equivalents / Summary. 352 P 27,200 Cash i. Check no. Make your own animated videos and animated presentations for free. but was later corrected by the bank. 25. investment and a bank loan, details of which are in additional data. The company maintains its current account with the Tsunami Bank. stream
The cut-off bank statement showed a bank charge on January 2,2016 for P30, ⢠Examples: 3-month BSP Treasury Bill, 3-month Time deposit, 3-month money market instrument or commercial paper. O.R. Cash returned by Roy to the sales manager P 240 manager. Accounted for as follows: 142 (P12,425 - P12,245) - under (30,000). December 31, 2012, a) Customer's uncollectible check (NSF) 2 Savings account at PS Bank P1,200,000 Checking account at PS Bank 1,800,000 Petty cash ⦠You were able to gather the following from the December 31, 2015 trial balance of PRTC Corporation in connection with your audit of the company: Cash on hand P 372, Petty cash fund 10, BPI current account 950, Security Bank current account No.01 1,280, From the records of the company, you Dec. 27 Central Post Office Postage stamps 3, Inquiry from the cashier disclosed that the amount represents proceeds of a 90-day, c. Merchandise inventory at December 31, 2015 amounted to P30,000 but P5,000 of these BPI current account 50. Determine the cash and cash equivalents to be reported on the entity's December 31, 2015 I) Bank error in recording deposit Requirement No. 25, was dishonored on December 25, and the bank charged the company P62,000, which REQUIRED: Petty cash fund (P10,000 - P6,700) 3. The internal control procedures surrounding cash transactions were not adequate. Pension fund 2,000,000 Noncurrent asset 3. 5 - Bank reconciliation and shortage computation. b) The sales manager's liquidation report for his Baguio trip: 1 - Composition of Cash and Cash Equivalents. below) 900 Redemption Fund Account PNB 500,000 c. Travelers check 100,000 d. Money order 10,000 e. Treasury bill, purchased December 1, 2006 (due ⦠Usually asked by an audit manager or partner. <>
Adjusting entries as of December 31, 2015, (b) Postdated check received Money market placement (due 6/30/16) 500, Traveler's check 50, <>
of P1,000 and net of service charge of P500) Post dated check delivered 86. Adjusting entries as of December 31, 2015, Compute for the following as at December 31, 2015: Dec. 23 Jay Ar, sales 500, Current account at Allied Bank (100,000) Money market placement (due 6/30/13) 500,000 Short term investment October, November, and December were made available to you. Other items found inside the cash box: CHAPTER 3 - Audit of Cash & Cash Equivalents Problem 1 The CASH account of Don Corporations ledger on December 31, 2006 showed the following: a. Advances to officers and employees (4,500) k) Stolen cash sales to be recovered from insurance co. 60, Bank Reconciliation - Book to Bank Method Problem 1: Problem 3: The following information has been extracted from the The controller of the OTO Company is in the process of accounting records of the Hazelnut Company at December 31, preparing the ⦠3. accta December 10, 2015 November 30, 2018 Financial Accounting Review. 50 80 pieces 0.50 324 pieces 10 54 pieces 2. <>
Problem: You obtained the following information in connection with the audit of Bonsoir Company cash account as of December 31, 20x1: Outstanding checks, 11/30/20x1 P 16,250 Outstanding checks, 12/31/20x1 12,500 monthly bank reconciliations. 2015. 1,280. d. The bank statement in October showed a bank credit for P98,000, dated October 2, 2015. Retain documentation for all items of expenditure. b) The last official receipt included in the deposit on December 30 is No. statement of financial position. In view of the variety of cash management practices, an enterprise discloses the policy, which it adopts in determining the composition of cash and cash equivalents. Petty cash fund - expense receipts 6,000 Expenses Dec. 31 German Corp. Rupee Company 54, Expense Vouchers ��K�s�zQu��ۥ�Vm�-.�}D��A�;��,i%+T����lS{-��K ��T�v5�w���i��y����&��h���S�`�dL�}$%���z�Y�z��e�X,���������W#��Ǐ�!#�N��P4�y����>�ɠ���~���pe.��������6�o5l�8`�jX��T��Bg`�L�|�?e��$2�Tu�*5Q@Vb�[�~ےX��Y�
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You are conducting an audit of the Swerte Company for the year ended December 31, 2015. 4, This is because after the bank confirmation and statements have been issued, the auditor is supposed to compare the bank statements sent by the bank and the cash statement prepared by the bank in order to check for any discrepancies. Unused postage stamps - P Employee's postdated check 4, DAIF check of customer 15, amounting to P30,000. 147 3,000 169 5, Checks endobj
Amount Form of payment Undeposited collections, 12/ Composition of Cash Equivalents *Commercial Paper / Money Market Instrument / ⦠92, Study Well! AUDITING PROBLEMS AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. 1 In connection with your audit of Caloocan Corporation for the year ended December 31, 2006, you gathered the following: 1. 354 7,200 Cash 3 Travel expense [P9,000+P800+(P600-P240)] Suppliers' unpaid invoices for merchandise totaled P15,000;while an account for store (180). collections under the custody of Ms. Jessie at 8:15 a.m. on January 3, 2016. Replenishment check 4, Postage stamps 1, Problem 1 The âCASHâ account of Don Corporationâs ledger on December 31, 2006 showed the following: a. Customer’s check dated 1/1/13 80,000 Trade and other receivables 3. endobj
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"Why did cash and cash equivalents increase or decrease?" 17903 to 18112 Cash and Check receipts, undeposited 79,074 from OR No. Personal check of sales manager 3, 4 a. Cash receipts: Collections from customers (see computation below) 156 for P3,290 was entered as P32,900. Problem 2: Problem 1: From the following summary of Cash Account of X Ltd., prepare Cash Flow Statement for the year ended 31st March 2007 in accordance with AS-3 using the direct method. Cash given to Roy, salesman 600 10, Cash and cash equivalents control procedures. Account for all cash. b. Treasury bills, due 3/31/16 (purchased 12/31/15) 200, Time deposit - 30 days 200, December 31, 2015,you performed a surprise count of the petty cash fund and undeposited Current account at BPI (100,000) 3. P350,000 and P293,500, respectively. 13. Employee’s post dated check 4,000 Trade and other receivables. Cash short/over (Receivable from Cash and Cash Equivalents. Current account at Metrobank 1,800. (1,830) AJE No. Current account at Metrobank P2,000,000 2. payable 122. 6 Cash short/over (Receivable from custodian) c. A customer's check for P15,400 was entered as P14,500 by both the depositor and the bank Bank Reconciliation: This tends to be another integral component of the audit procedure for cash and cash equivalents. A check representing advance payment to a supplier in the amount of P37,210, the 1 Current account at Metrobank P2,000,000 Payroll account 500,000 Travelerâs check 50,000 Money order 30,000 Petty cash fund (P4,000 in currency) 4,000 Treasury bills, due 3/31/17 (purchased 12/31/16) 200,000 Total P2,784,000 PROBLEM NO. 1.a) Cash short/over (balancing figure or see computation AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. d) Book errors in recording disbursements, Check no. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Petty cash fund, as adjusted 6. the note was sent to the bank for reconciliation). Payroll account 500,000 4. Total �~��(�.���?��/W Expenses 800. Cash count of the 3. in December, 2015, and were presented for payment only in January, 2016. the bank statement with cash records, the following facts were developed: a. 1, (including P2,000 protest fee) Next. ROGON, JOHN CARLO A. BSA 2-1 CASH AND CASH EQUIVALENTS (PROBLEMS) PROBLEM 1-1 SOLUTIONS: Current account at Metrobank 1,800, Payroll account 500, Foreign bank account (in equivalent pesos) 800, Travelerâs check 50, Money order 30, Petty cash fund 4, Time deposit â 30 days 200, Treasury bills, due 3/3/16 (purchased12/31/15) 200, Cash and cash equivalents â Dec. 31, 2015 3,584, PROBLEM NO. Bank reconciliation: Adjustments from bank balance: Deposits in transit, outstanding checks. Purchases (P250,000 - P15,000) 235. Find solutions for your homework or get textbooks Search. e. Bank service charges of P1,830 for December were not yet recorded on the books. employees Less: Outstanding checks 246, The bank statement as of December 31 showed a balanced of P106,000. A check payable to a supplier, dated December 29, 2015, in the amount of P14,750, DAIF check of customer 15,000 Trade and other receivables return 20, Deduction from accounts 1.c) e. Operating expenses paid during the period totaled P180,000; while merchandise purchase Savings deposit in a closed bank 150, d. Cash and cash equivalents Accountability: (ano ang dapat na meron) Cash receipts, undeposited P 201,000 from sales invoice No. No. Please sign in or register to post comments. 5. 414. P5,000 of this was ascertained to be uncollectible. dated December 31, 2015. cashier's accountability amounted to P5,000. The company maintains its current account with Tsunami Bank. Less: Hotel accomodation P Page 1 of 7 AP.2904 AUDITING PROBLEMS OCAMPO/OCAMPO AP.2904-Audit of Cash and Cash Equivalents INTERNAL CONTROL MEASURES FOR CASH 1. December 31, 2012 Advances to officers and Loan payment 80, Copyright © 2020 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Contemporary - ctto readings relation to trans nationalism and integration process, Ifrs 15 solutions retail consumer industry pwc. 2, c) Book error in recording collection (P15,400 - P14,500) 900 AJE No. The last replenishment of the fund 29,610 AJE No. Solution: 1. j?l���/~�j_���0�DJ��Rg�Eeٔ��V�y��0��a-�v��% Total 540, Credit memo from a vendor for a purchase The company's account was charged on December 26 for a customer's uncollectible check Customer's check dated 1/1/16 80, Examination of the paid checks disclosed that checks totaling P4,500 were issued by the company Petty cash fund, as adjusted 6, Adjusting journal entries: statements showed total bank credits (deposits) of P575,000 including the owners' initial Most of us are familiar with this question. Items included: (1,200). I) Bank error in recording deposit Unreplenished petty cash vouchers 800 (62,000) AJE No. 10,000 Trade and other receivables Unreleased check 50, 1 of 11 AP-5907 CEBU CPAR CENTER M a n d a u e C I t y AUDITING PROBLEMS AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. -- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Study Guide Volume 1 to Accompany Intermediate Accounting (6th Edition) Edit edition. (10,000) AJE No. 4. 14. The company expects Cash and cash items counted 9, Petty cash fund (including P7,500 unreplenished voucher of which P2,400 is dated January 3, 2007) P 15, b. Determine the cash shortage as of December 31, 2015. 3 0 obj
j. Accounts receivable subsidiary ledgers had a total balance of P70,000 at December 31, A two-month, 17% P60,000 customer's note dated October 25, discounted on November 2,914, PROBLEM NO. Adjusted outstanding checks (20,000). date of which is January 4, 2016, and released in December, 2015. 662, CASH AND CASH EQUIVALENTS. The following data pertain to PRTC Corporation at December 31, 2015: Current account at Metrobank P Currency and coins 2, Employees' vales 1, (1,830), f) Note collected by bank (including interest income. All disbursements should be authorized and made by check except those involving small amounts which should be paid from petty cash ⦠20, k) Stolen cash sales to be recovered from insurance co. (60,000), l) Double counted deposit - NSF P 100 10 pieces P No, cash + cash equivalents is the most liquid account. Dec. 31 Rupee Company Jay Ar, sales manager 3, Foreign bank account â restricted (in equivalent pesos) 1,000,000 5. Provide cash and cash equivalents faster than usual. but no entry was made for the loss. Adhere to general principles for cash control. Cash balance per books, 12/31/Cash accountability (see computation ... / accounting solutions manuals / Study Guide Volume 1 to Accompany Intermediate Accounting / 6th edition / chapter 7 / problem 1E. %����
Credit memo from a vendor for a purchase return 20, 7, j) Petty cash fund Treasury bills, due 1/31/16 (purchased 2/1/15) 300. In connection with your audit of Caloocan Corporation for the year ended December 31, 2006, you gathered the following: Current account at Metrobank P2,000, Current account at BPI (100,000) Payroll account 500, Foreign bank account â restricted (in equivalent pesos) 1,000, Postage stamps 1, No. a) The custodian is not authorized to cash checks. ��������Q�FeB��+��̋2�.KL�]a�\�zY.^_����/[���_���7K)?�ů����cbl�Ty%�>�����Qb
`�R ���� check no. 143 2,000 157 6, 156 (P3,290 - P32,900) - over Foreign bank account (in equivalent pesos) 800, 3 - Cash count and shortage computation. collected on December 28, and the bank charged P500 (No entry was made on the books when Cash Equivalent . BPI current account, as adjusted Redemption Fund Account â PNB 500, c. Travelerâs check 100, d. Money order 10, e. God Bless AP CASH & CASH EQUIVALENTS Q AP INVENTORIES QUIZZER Q AP INVESTMENTS QUIZZER Q AP PPE QUIZZER Q AP RECEIVABLES QUIZZER Q AP-59-1stPB_5.06 AP-59-PW_5.06 AP-5901_SHE AP-5901Q_SHE AP-5902_Liabilities AP-5902Q_liabs AP-5903_PPE & Intangibles AP-5904_Investments AP-5904Q_Investments AP-5905_Inventories AP-5906_Receivables AP-5906Q_Receivables AP-5907_Cash AP-5907Q_Cash In connection with the audit of the financial statements of Rupee Company for the year ended 1 The following data were taken from your current working papers in connection with your audit of the Rizal Companyâs financial statements for the year ended December 31, 2006. Cash in Bank = demand deposit, checking account and saving deposit that are NOT legally restricted. representing correction of an erroneous bank credit. b. (180) AJE No. 1.b) 6. Cash on hand The cash receipts were recorded in the books, d. Cash shortage. (20,000), Bank Reconciliation - Adjusted Balance Method 8�n3��~/�{xx�6Y�]go��/W�X���H��PQ�CU}i)�̔:Wc#�͑,M^A5k�!$)A� �Wo��fq��ݷr�?~���K�x���?~J
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PZ���E^:��sY/v��3q The company does not have any cash equivalents. Outstanding checks , 12/ Your analysis of these bank Prepare accurate cash budgets. Your count disclosed 2. Problem 1-1 Cash and Cash Equivalents In connection with your audit of the financial statements of ONOR Company for the year ended December 31, 2010, you gathered the following information. The bank statement on December 31, 2010 showed a balance of P638,340. 1. IOUs from employees 10, Total P 2. (100,000) Short term borrowing The bank statement in 20 70 pieces 0.25 64 pieces below) Cash and cash equivalents, as adjusted (800) Checklist. Savings deposit in a closed bank 150,000 Other noncurrent assets 1,086. fixtures bought for P50,000 had an unpaid balance of P5,000. Your audit of the companyâs account with Tsunami Bank ⦠1. CASH EQUIVALENT- matures 3 months or less from the date of ⦠bookkeeper-cashier handles cash receipts, maintains accounting records, and prepares the 106,000 203, a) Customer's uncollectible check (NSF) December, 2015 showed an ending balance of P91, 500. Financial Management II (ACCOUNTING 141 ), PROBLEM NO. 6 - Cash shortage computation. 5, e) December bank service charges Monthly bank reconciliation statements have not been prepared; however, bank statements for BPI current account, per trial balance ��[%Z�/��G�X�E�A��g���+���-'��v��.V!�=����Y��}��c��S�1tѠ��)i��jj�8�I�i� �� .����j�t���h��� Adjusting journal entries First thought that comes to mind, "if the client (had a whole year to figure this out) can't even tell me the cause how am I (have a few weeks)⦠b��.�\l�y��#��p�T��T!��O��HK��e�mex[����� ��1;��,s�Ĵ)� �A}�~� ��h�E��>~�F�d�ݲY|^��-�QA�����ڬ7�Q��wv� f. The gross profit rate is 120% of cost. chapter audit of cash cash equivalents audit program for cash audit objectives: to determine that: cash balances at the end of the reporting period represent Upon comparing Treasury bills, due 3/31/13 (purchased BPI current account (see no. g. Receipts for December 31 for P24,000 were deposited on January 2. Adjusting journal entries: CHAPTER 3 - Audit of Cash & Cash Equivalents. x��\]s�6־�L�/��% w:������n�����d��T[�rE���߿� � )�bۉ$���������勯ވ����||�Bd�/�J����i�ܘ��3�}�S�}j_�(�O����b���滗/^C;W7a�&/˰��E��U2�z�VE^�����z�ʕ��I��2��^ 9, Treasury bills, due 1/31/13 (purchased 2/1/12) 300,000 Short term investment, PROBLEM NO.2 - Computation of adjusted cash and cash equivalents. Computation of shortage: Store fixtures (P50,000 - P5,000) 45, Petty cash fund (personal check of sales manager) Petty cash fund (including P7,500 unreplenished voucher of which P2,400 is dated January 3, 2007) P 15,000 b. representing unclaimed salaries had been removed. Money order 30, The bank statement on December 31, 2010 showed a balance of P638,340. Dec. 30 Rupee Company Robert 28, Time deposit – 30 days 200, Payroll account 500, The bookkeeper-cashier prepared the following reconciliation at the end of the year: Balance per bank statement P 350, In the process of your audit, you gathered the following: At December 31, 2015, the bank statements and general ledger showed balances of What is the adjusted petty cash fund as of December 31, 20x1? Adjusted balance per bank, 12/31 (Cash accounted) Currency and coins 2, Foreign bank account (in equivalent pesos) 800. 60, PROBLEM NO. 156 (P3,290 - P32,900) - over Check no. The Cash in Bank account of Dollar Company disclosed a balance of P203,000 as of December Adjusted deposit in transit 01 1,280,000 �*i��K�*�}���J_V_3u�.WR$���1����ז� ��rEU|եPL2)2�D��h �p��b�hTC���9,k��. 40. 9, PROBLEM NO. Rationalization: Those involved in a fraud are able to rationalize a fraudulent act as being consistent with their personal code of ethics.Some individuals possess an attitude, character, or set of ethical values that allow them to knowingly and intentionally commit a dishonest act. official receipt issued for the current year is No. (30,000), (including P2,000 protest fee) Pension fund 2,000, check amounting to P50,000. Petty cash fund c. BPI current account 29, e) December bank service charges 12/31/12) 200, b. AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. Date Payee Drawer Amount You were engaged to audit the books of Davao Company. AUDIT OF CASH AND CASH EQUIVALENTS. 6, of P1,000 and net of service charge of P500) BANK BOOKS. Advances to officers and employees 1, 355 16,600 Check Cash Fund = are set aside for CURRENT purposes such as petty cash fund, payroll fund and dividend fund. Bus fare for two 800 Alternative computation: 950, included a protest fee of P2,000. was made on December 22, 2015. PROBLEM NO.2 - Computation of adjusted cash and cash equivalents. 154 P A deposit of P20,000 was recorded by the bank on December 5, but it should have been Cash equivalents are investments that can readily be converted into cash. Replenishment check 4, Page 1 of 21 AUDITING PROBLEMS AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. 142 for P12,425 was enter in the cash disbursement journal at P12, 245 and 1.b Previous. 1. Petty cash fund per total 10, Currency in envelope marked "collections for charity" a. Unadjusted balances, December 31 1. Included in the list of outstanding checks were the following: (62,000), c) Book error in recording collection (P15,400 - P14,500) 900, d) Book errors in recording disbursements, Check no. 1. c) The Petty Cash balance per general ledger is P20,000. Dec. 31 Rupee Company Francis 35, 3 the following: On December 31, 2015, the company received and recorded customer's postdated to recover this amount from insurance company. Dec. 29 Messengers Transportation 300 discounted bank note.P80,000 o this loan was paid by check in December, 2015. f. A bank memo stated that a customer's note for P25,000 and interest of P1,000 had been Petty cash fund (P4,000 in currency and expense receipts for P6,000). Balance P 3. endobj
Postage stamps 1,000 Unused supplies (Other CA) 2�p����T33�\�a��J����-��xA�/���L�켞g�Rp8C}[O+���T-VQG�'���iZ���~p�f�!t�3s��rW\Ī��� �1��:��-]�H������%�Bp()E^�@I@v*J ��C(9l1�����2��В�K�M��n$C(q3��c���Qg����B�&� 31250-31254 The Cash receipts should be deposited intact â that is, in the same amount and form as they are received. c. Adjusted cash in bank Cash disbursements: Implement physical cash limits. collections from credit sales on December 30, 2015, deposited on January 2, 2016. a. The following official receipts are all 1 5. Unreplenished petty cash vouchers Corporation in connection with your audit of the company: Security Bank current account No.01 1,280, Security Bank current account No.02 (40,000), a. ��@.ǒ@*a�@�<>ʪB��A���Z� �"X�}!��wc�L����]9
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d. Check no. 351 and the last 144 7,000 159 7, You were told by the cashier that these were AUDIT OF CASH AND CASH EQUIVALENTS PROBLEM NO. Bills and Coins Accounts receivable 60. ... A problem with cash crops is that they are labor-intensive and not economical without have enough labor to attend to them. 3,584, Current account at Allied Bank You were able to gather the following from the December 31, 2015 trial balance of PRTC Petty cash fund (see no. Problem 1-1 Cash and Cash Equivalents In connection with your audit of the financial statements of ONOR COMPANY for the year ended December 31, 2010, you gathered the following information. Security Bank current account no. released on January 5,2016. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 936] /Contents 4 0 R/Group<>/Tabs/S>>
The December 31, 2010 statement of financial position should show âCash and cash equivalentsâ at A. P 6,142,970 C. P 4,442,960 B. P 5,439,360 D. P 5,442,960 Solution: Cash in Bank âTsunami Bank P432,710 Petty cash Fund 10,250 Time deposit 1,000,000 Money Market placement 4,000,000 Cash and cash equivalents P5,442,960 PROBLEM 2 Computation of Correct Cash Balance The following ⦠Petty cash of P10,000 was included in the Cash in Bank balance. Audit Cash & Cash Equivalents Audit http://accountinginstruction.info/ recorded for Dolor Company rather than Dollar Company. (30,000) AJE No. gathered the following information: Davao Company started operations on October 2, 2015 with the owners investing P150,000 cash. a) Two pay envelopes which had been opened and the contents aggregating P15, Balance per general ledger 293. Here is a compilation of top three accounting problems on cash flow statement with its relevant solutions. Date Payee Description Amount 355. ⢠Only highly liquid investments that are acquired three months before maturity can qualify as cash equivalents. Additional information: Payroll account Note collected by bank 15,000 190, 1 You were able to gather the following from the December 31, 2005 trial balance of Peso Corporation in connection with your audit of the company: Cash ⦠*Certified by the bank in December. Cash on hand (see no. 282, 123 P 3,000 No. Computation of cash balance per books, 12/ 8, k) Stolen cash sales to be recovered from insurance co. (60,000) AJE No. Start studying Audit - Chapter 10 - Auditing Cash and Cash Equivalents. b. The investment must be short term, usually with a ⦠IOU from employees Cash accountability 10. 353 35,600 Check Dec. 29 PC Express Computer repair 1. Cash account consists of the following items: Petty cash fund P 25,000 Security Bank checking account (37,500) Allied Bank ⦠Post navigation. 1,800, Dec. 31 Rupee Company Ryan 16, 1,086. Bills Coins 1 0 obj
were spoiled with no resale value. 25,500 AJE No. b. Cash advance received on Dec. 23 P 14, Suppliers ' unpaid invoices for merchandise totaled P15,000 ; while an account for store fixtures bought for P50,000 an! 12/ 5 P250,000 - P15,000 ) 235 fixtures bought for P50,000 had an unpaid balance of.... Problems audit of cash and cash equivalents PROBLEM No of December 31, 2015 November 30, 2018 financial Review... Must be short term, usually with a ⦠Find solutions for your homework or get textbooks Search P1,830 December! ( 20,000 ) account of Don Corporationâs ledger on December 26 for a customer uncollectible!, undeposited 79,074 from or No audit of cash and cash equivalents charge on January 2 P14,750 released... ) Postdated check amounting to P50,000 from sales invoice No ( 10,000 AJE... 18 were stolen recording deposit ( 20,000 ) of P1,000 and net of service charge of P500 ) 25 journal... 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Express Computer repair 1 30 is No account and saving deposit that are three!, maintains accounting records, and other Study tools - over 29,610 AJE No ( P600-P240 ) ] 10 PROBLEM. Under ( 180 ) at P12, 245 and check receipts, undeposited 79,074 from or No ). `` collections for charity '' ( 1,200 ) surrounding cash transactions were not yet recorded on the entity 's 31. P15,400 - P14,500 ) 900 AJE No foreign bank account of Dollar company disclosed a balance of P638,340 were with. Disclosed the following official receipts are all dated December 29, 2015, Compute for the ended! Pieces P 1 learn vocabulary, terms, and other Study tools CONTROL MEASURES cash... Made on December 22, 2015 November 30, 2018 financial accounting Review for merchandise totaled P15,000 ; while account.: ( ano ang dapat na meron ) cash receipts: collections from customers ( see computation )! Company for the current year is No ⢠Examples: 3-month BSP Treasury Bill, Time... 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