CASE 1 - Haruhi Fujioka Company

Current account at Banco De Oro 2,500,000

Checking account at Metrobank 1,800,000
Payroll account – designated for managerial levels only 950,000
Bank account (FCDU), converted in PHP 3,100,000
Postdated checks payable to supplier 80,000
Travelers check 250,000
Money order 90,000
Petty cash fund (Imprest balance) (15,000 - 7,000) 8,000
Change and tax funds 500,000
Time deposit at Metrobank, 50 days with rollover agreement 800,000
Money market placement 750,000
Treasury bills, due 3/31/17 300,000
Total Cash and cash equivalents 11,128,000
CASE 2 - Black Jack Company

Cash on hand 372,000

Add (less):
NSF check (50,000)
Customers postdated check (30,000)
Adjusted 292,000

Petty cash fund:

Currency and coins 2,500
Check drawn to custodian 4,500
Total 7,000

Asian development bank 950,000

Undelivered check 60,000
Company's postdated check 90,000
Adjusted 1,100,000

Land bank account CA 1 1,280,000

Land bank account CA 2 (40,000)
Adjusted 1,240,000
Cash on hand 292,000
Petty cash fund 7,000
Asian Development bank 1,100,000
Land Bank 1,240,000
Time deposit in Metrobank - 2 months 250,000
Total cash in FS 2,889,000
CASE 3 - Alucard Company

Cash equivalents per book 1,200,000

Gift certificates (50,000)
Certificate of deposit (200,000)
Time deposit in BDO 500,000
Total cash equivalents 1,450,000

Cash in Metrobank per book 2,000,000

Cash in BDO per book checking account (300,000)

Check #1 100,000
Check #2 60,000
Check #4 70,000
Check #5 40,000
Adjusted - overdraft (liability) (30,000)

Adjusted cash in BDO to be presented P0

Cash in BPI per book 3,000,000

Check #2 (70,000)
Check #3 500,000
Adjusted cash in BPI 3,430,000
Total cash equivalents 1,450,000
Cash in Metrobank per book 2,000,000
Adjusted cash in BDO to be presented -
Adjusted cash in BPI 3,430,000
TOTAL CASH in FS 6,880,000
CASE 4 - Arsene Lupin III Company

CASH
Initial Investment 150,000 190,000
Collections from customers 370,000 180,000
Bank Loan 98,000 80,000
END 168,000
133,500
Correct Cash Balance 34,500

Accounts Payable
payments 190,000 250,000
60,000

Merchandise Inventory
purchases 250,000 220,000
END 30,000

Cash Sales 5,000

Credit Sales 435,000
Net sales 440,000

Accounts Receivable
Sales 435,000 365,000
END 70,000
 Bank
payment to suppliers Unadjusted Balance 30,500
payment for operating expenses Deposit in Transit 5,000
payment for bank loan Outstanding Check (4,500)
Adjusted Cash In Bank Balance 31,000
Cash Shortage Petty Cash Fund 3,500
Correct Cash Balance 34,500

Purchases
End

Cost of Sales (*GP = 50%)

Collections from customers

CASE 5 - Naruto Agribusiness

Accountability:
Petty cash fund 8,000.00
Checks
(2,800.75 + 2,250) 5,050.75
Envelope 1,450.00 14,500.75

Accounted for:
Bills and coins (2,630 +913.25) 3,543.25
Unreplenished vouchers 4,266.95
Checks 5,050.75
IOU from Ms. Menchin 1,400.00 14,260.95
SHORTAGE 239.80

Bills and coins (3,543.25 - 1,450) 2,093.25

Vouchers dated Jan. (235.50 +140) 375.50
Accom check 95.00
Petty cash fund balance 2,563.75
Imprest balance 8,000.00
Unreplenished vouchers (4,266.95)
Vouchers dated Jan. (235.50 +140) 375.50
Advances (1,400.00)
Accom check 95.00
Shortage (239.80)
Adjusted balance 2,563.75
CASE 6 - Afro Company

Accountability:
Petty cash fund 40,000
Colections with OR 178,500
Colections without OR 56,000
Accomodation check 6,800
Unclaimed salaries 25,000 306,300

Accounted for:
Bills and coins 14,155
Checks (excluding aliara and afro) 170,800
Unclaimed salaries 25,000
Unreplenished vouchers 35,500 245,455
SHORTAGE 60,845

Proposed Adjusting Journal Entries:

Cash 110,000
Accounts payable 110,000

Advances to employee 25,000

Postage expense 6,500
Transportation expense 500
Repairs expense 3,500
Petty cash fund 35,500

Cash 25,000
Salaries payable 25,000

Transportation expense 16,800

Petty cah fund 6,800
Advances to employee 23,600

Receivable from custodian 60,845

Cash/Petty cash fund 60,845
CASE 7 - Guts Company

BOOK BANK
Unadjusted balances 365,020 300,120
Unrecorded receipts 2,000
Outstanding checks (22,600)
Undeposited receipts 89,500
Adjusted balances 367,020 367,020

Receipts for deposit shoud be 89,500

Actual deposited 75,120
Amount of theft 14,380
CASE 9 - Eikichi Onizuka Company

BANK FEB REC DISB MAR

Unadjusted balances 3,747,870 8,718,780 7,643,056 4,823,594
DIT
Feb 287,036 (287,036)
Mar 450,800 450,800
OC's
Feb (970,130) (970,130)
Mar 1,053,920 (1,053,920)
Erros (360,000) (360,000)
27,000 27,000
(241,360) 241,360
Adjusted balances 2,731,776 8,882,544 7,152,486 4,461,834

BOOK FEB REC DISB MAR

Unadjusted 218,250 8,591,570 7,159,686 1,647,534
BSC
Feb (25,200) (25,200)
Mar 18,000 (18,000)
NSF check - - - -
Notes collected
Feb 2,513,526 (2,513,526)
Mar 2,831,500 2,831,500
Errors 27,000 (27,000)
800 800
2,734,376 8,882,544 7,152,486 4,461,834
** the beginning balance per book is P218,250, hence the difference of P2,600 is shortage.
CASE 9 - Eikichi Onizuka Company

Deposits in transit, June. 30

Add collections in July:
July book receipts 2,408,075
Customers' note collected by bank in June. (50,000)
Total -
Less deposits credited by the bank in July: -
July bank receipts 2,361,525
NSF check redeposited (Let Ther) (9,200)
Deposits in transit, July. 31

Outstanding checks, June 30

Add checks issued in July:
July book disbursements 2,521,200
Collection fee for note collected in June (200)
Total
Less checks paid by the bank in July:
July bank disbursements 2,526,025
Bank error in check payment (P1,875 - P1,785) 90
NSF check - Let Ther (9,200)
NSF check - Miss Yel and Greg White (24,900)
Outstanding checks, July. 31

Deposits in transit, July. 31 (see Requirement 1.a)

Add collections, August. 1-12:
August. 1-12 book receipts 731,250
NSF check - Miss Yel 24,900
Total
Less deposits credited by the bank, August. 1-12:
August. 1-12 bank receipts 803,725
Correction of error in check payment in July. (9,000)
Deposits in transit, August. 12

Outstanding checks, July. 31 (see Requirement 1.b)

Add checks issued, August. 1-12:
August. 1-12 book disbursements 443,925
Unrecorded payroll checks
Total
Less checks paid by the bank, August. 1-12:
Outstanding checks, August. 12

June Receipts Disb

Unadjusted bank balances 861,050 2,352,525 2,526,025
Deposits in transit: - - -
Beginning of period 87,500 (87,500) -
End of period - 93,250 -
Outstanding checks: - - -
Beginning of period (220,600) - (220,600)
End of period - - 249,585
Bank error in check payment - - 90
9,000
NSF check redeposited - (9,200) (9,200)
Adjusted bank balances 727,950 2,358,075 2,545,900

Unadjusted book balances 678,150 2,408,075 2,521,200

Note collected by bank in June 49,800 (50,000) (200)
NSF check not redeposited - - 17,250
- - 7,650
Unrecorded payroll in August. - - -
Adjusted book balances 727,950 2,358,075 2,545,900
- - -
 87,500

2,358,075
2,445,575
-
-
2,352,325
93,250

-
220,600

2,521,000
2,741,600

2,492,015
249,585

-
93,250

756,150
849,400

794,725
54,675

-
249,585

443,925
693,510
575,360
118,150

July August 1-12

July. 31 Receipts Disb August. 12
 687,550 803,725 575,450 915,825
- - - -
- (93,250) - -
93,250 54,675 - 54,675
- - - -
- - (249,585) -
(249,585) - 118,150 (118,150)
(90) (90) -
9,000 (9,000)
- - - -
540,125 756,150 443,925 852,350

565,025 731,250 443,925 852,350

- - - -
(17,250) 17,250 - -
(7,650) 7,650 - -
- -
540,125 756,150 443,925 852,350
- - - -
COMPREHENISVE CASE - RUMA INCORPORATED

PER BOOK
Unadjusted balaces (65,120)
Deposit in transit
Outstanding checks
Book error (188,040-58,080) (129,960)
Notes collected including interest 505,000
NSF check (84,080)
Undeposited collection
Undeposited petty cash balance (10,000 - 6,400) (6,400)
Balances 219,440
Cash shortage (128,050)
CASH BALANCE 91,390

ADJUSTMENTS:
Accounts payable 129,960
Cash 129,960

Cash 505,000
Notes receivable 500,000
Interest income 5,000

Accounts receivables 84,080

Cash 84,080

Various accounts (expenses) 6,400

Petty cash fund 6,400

Receivable from custodian 128,050

Cash 128,050

*** For theory question : ANSWER is letter C

PER BANK
399,850
70,000
(408,110)

26,050
3,600
91,390
-
91,390