User Account

All Pages

Determine the cash and cash equivalents balances

Assignment Help Accounting Basics
Reference no: EM133160913

Question - You gathered the following items in connection with your audit of Yuan Company for the year ended December 31, 2020:

Treasury bills, due 1/31/21 (purchased 2/1/20), P150,000.

Treasury bills, due 3/30/21 (purchased 12/30/20), P100,000.

Petty cash fund (P2,000 in currency and expense receipts for P3,000), P5,000.

Money order, P15,000.

NSF check, P7,500.

Credit memo from a vendor for a purchase return, P10,000.

IOU from president's sister, P5,000.

Post-dated check received from employee, P2,000.

Postage stamps, P500.

Restricted foreign bank account (in equivalent pesos), P500,000.

Payroll account, P250,000.

BPI current account - overdraft, P50,000.

Metrobank current account, P1,000,000.

Required - Determine the following balances based on the above.

1. Cash

2. Cash equivalents

3. Cash and Cash Equivalents.

Reference no: EM133160913

Questions Cloud

Outsourcing government services : What are the pros and cons to consider when outsourcing government services? Would there be any recommendations for or against this?
How much is paid in federal taxes : The taxes paid are deducted as described above. How much is paid in federal taxes if the customary deductions are taken into consideration
Thesis - predicting default of construction companies : Write a thesis on Predicting default of construction companies with empirical data from real-world business cases, preferably in the Omani market
For what price should the first scenario option sell : Edward estimates his selling and administrative expenses. For what price should the first scenario option sell for at the end of 10 years
Determine the cash and cash equivalents balances : Petty cash fund (P2,000 in currency and expense receipts for P3,000), P5,000. Determine the Cash and Cash Equivalents balances
What is its pretax cost of debt : Ursala, Incorporated, has a target debt-equity ratio of 1.30. If the company's cost of equity is 12 percent, what is its pretax cost of debt
Vast majority of the advantage of a beacon : The arrangement of a beacon is a standard illustration of a public decent, since it is hard to avoid ships from utilizing its administrations.
List three ways to encourage diversity when recruiting : List three ways to encourage diversity when recruiting candidates? You should cite relevant theory to support your points and illustrate them with empirical evi
What competencies are important for success : What competencies are important for success as a strategic HR leader? How does strategic HR differ from a non-strategic approach?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd