The accountant of ZXY CO.

provided the following data in reconciling the April 30 cash in bank

Balance per bank, April 30 1,235,400

Bank service charge. 2,500

Deposits in transit. 495,350

Outstanding check. 176,500

Note collected by bank including 11,250 interest. 136,690

Check drawn by XYZ erroneously charged by bank to ZXY account. 54,650

A transposition error was made in recording sale and and deposit in the sales journal and cash
receipts journal in april.

Correct amount. 13,658

Recorded as. 16,358

Question: What is the cash balance per book?

2. Shown below is the bank reconciliation for PAASA company for June 2019

Balance per bank, June 30, 2019. 750,000

Add: deposits in transit. 120,000

Total: 870,000

Less: outstanding checks. 140,000

Bank credit error. 5,000 145,000

725,000

Data per bank statement for July 2019 contains the ff. data

Total charges including NSF check of 9,400 and Service charge of 5,500 480,000

Total deposits. 550,000

All of the outstanding checks on June 30 including bank credit were cleared in bank in July
2019. There were outstanding checks of 150,000 and deposits in transit of 190,000 on July 2019

Question: What is the cash balance per ledger on July 31, 2019?
3: Shown below is the bank reconciliation of Ventedues Co. for May 31, 2016

Balance per bank, May 31, 2016. 300,000

Deposits in transit. 48,000

Outstanding checks. (56,000)

Bank credit recorded in error. (20,000)

Total cash balance per book, May 31 272,000

The bank statement for June 2016 contains the following data

Total deposits. 220,000

Total charges, including NSF of 16,000 and service charge of 800. 192,000

All of the outstanding checks on May 31, 2016 including bank credit were cleared in bank in
June 2016. There were outstanding checks of 150,000 and deposits in transit of 190,000 on
June 2016

What is the cash balance per bank statement on June 30?

4. VHRV Company reported the following information at year-end:

A. Share investment of 1M that are very actively traded in the stock market

B. Government treasury bills of 2.65 M with a 10-year term but purchased on December 31 at
which time they had two months to go until maturity

C. Cash of 3.08M in the form of coin, currency, saving account and checking account.

D. Commercial papers of 0.66M with term of nine months but purchased on December 31 at
which time they had three months to go until maturity

Question:

What total amount should be reported as cash and cash equivalent?

Cash in Bank 2,255,350

Cash on hand 125,045

Cash restricted for addition to plant and expected to be disbursed next year 1,600,000

*Cash in bank included 600,000 of compensating balance (not legally restricted as to

Question:

What total amount of cash should be reported under current assets at year-end?

3. On December 31, 2019, Riego Steel Company had the following account balances:

Petty cash fund 50,000

Cash in bank- current account 4M

Cash in bank- payroll account 1.2M

Cash in bank- sinking fund 2M

Cash on hand 500,000

Cash in bank- restricted account for plant addition and expected to be disbursed in 2020 1.5M

Treasury bills 1M

*The petty cash fund included unreplenished December 2019 petty cash expense vouchers
5,000 and employee IOU 5,000

* The cash on hand included a 100,000 customer check payable to Riego Steel dated January
15, 2020

* In exchange for a guaranteed line of credit, the entity had agreed to maintain a minimum
balance of 200,000 in the unrestricted current bank account

*The sinking fund is set aside to settle a bond payable that is due on June 30, 2020

Question:

What total amount should be reported as cash and cash equivalent on December 31, 2019?
4. Mercy Company reported cash account balance per ledger of 9.5M which included the
following on December 31, 2019:

Cash in bank- demand deposit 3M

Time deposit- 30 days 0.68M

NSF check of customer 0.25M

Money market placement due on June 30, 2020 2.5M

Saving deposit 1M

IOU from an employee 0.30M

Pension fund 1.5M

Customer check dated January 31, 2020 600,000

Customer check outstanding for 18 months 400,000

*Check of 125,250 in payment of AP was dated and recorded on December 31, 2019 but mailed
to creditors on January 15, 2020

* Check of 375,570 dated January 31, 2020 in payment of AP was recorded and mailed
December 31, 2019

*The cash receipts journal was held open until January 15, 2020, during which time 263,000
was collected and recorded on December 31, 2019

Question:

What total amount should be reported as cash and cash equivalent on December 31, 2019?
5. Lopez Company received the bank statement for the month of March. However, the closing
balance of the account was unreadable.

Attempts to contact the bank after hours did not secure the desired information.

Feb 28 book balance 1,460,000

Note collected by bank 100,000

Interest earned on note 10,000

NSF check of customer 130,000

Bank service charge on NSF check 2,000

Other bank service charges 3,000

Outstanding checks 200,000

Deposit of February 28 placed in night depository 85,000

Check issued by Le Viste Company charged to Lopez's account 20,000

Question:

What is the cash balance per bank statement?

Bills and coins on hand 52,782

Cash received from customers 86,220

Petty cash fund including petty cash vouchers of 690 10,500

Certificate of deposits term: 14 months. 600,000

Postage stamps 350

Checking account in YZX bank 2,556,500

Post dated check, customer 11,250

Money order from customer 16,750

IOU of an employee 9,650

Balance in savings account closed by BSP 111,000

Utilities deposit to gas company, refundable. 5000

Cash advance received from customers 8000

NSF check, CC company 15,000

Cash advance to company executive collectible upon demand 600,000

Checking account in ZXY bank, overdraft 20,000

What is the amount of cash and cash equi?