AUDITING PROBLEMSProblem 11. HAZELNUT COMPAC

Cash on hand (Undeposited sales receipts)

P 40,800Reconciled balance in BB Bank CA 374,000Balance in CC savings account 342,400Cash P 757,200*Certificate of time deposit w/ maturity of 3 mos.- Cash equivalent*Customer’s note receivable-Notes receivable*Reconciled balance in AA Bank CA-current liability since not repayable*Customer’s postdated check-trade and other receivable*Employee travel advances- Trade & other receivables*Cash in bonk sinking fund investments-non current investments*Postage stamps-other current assets(Supplies)

2. LYRIC CO.

Monte Bank: Checking account P 540,000Monte Bank: Savings account 884,000Undeposited customer checks 208,000

Currency and coins 23,200NAIC checking account 800,000Treasury bills 600,000Cash & Cash equivalent P 3,055,200

*Savings account in NAIC Bank –non-current assets*180 day bills – short term investments

3. OTO COMPANY

Savings account P 900,000Checking account 1,200,000Money Market (3 mos.) 7,500,000Currency & coins on hand 11,550Commercial paper (60 days) 3,150,000Petty cash fund 1,500Cash & Cash equivalent P 12,763,050

*Travel advances –trade & other receivables*Separate cash fund (restricted)-other non-current asset

*I.O.U from an employee –trade & other receivable*Postdated check-trade &other receivable*Two certificates of deposit (120 days)-short term investments

Problem 1-2SANTIAGO COc

Metropolitan Bank: Current account P 81,000Metropolitan Bank: Savings account 132,600Undeposited customer checks 19,200(22,200-3000[postdated check]) Petty cash 1,200NPB current account 600,000Treasury bills (2 mos.) 90,000Time deposit 100,000Cash & Cash equivalent P 427,480

*Postdated check[P3000]-trade & other receivables*Savings account(expansion)-non-currents assets*Unreplenished vouchers-deducted to petty cash*Current account[P120,00]-restricted compensating balance*7 months treasury bill-short term investments

DIONISIO CORP.

Current account at Prudent Bank P 135,000

Treasury bill (3 mos.) 300,000Payroll account 390,000Traveler’s check 21,000Money order 12,900Petty cash fund 3,000

Cash & Cash equivalent P 861,900

*Current account at Prime Bank-current liabilities(SB)*Treasury bills(mat. Dec.311,2015)-short term investment*Foreign bank account-restricted-other noncurrent assets*Employee’s postdated check-trade and other receivables*IOU from the vice-president- trade and other receivables*Credit memo from supplier for purchase return-(-AP)-CS*Petty cash fund(expense receipt)-operating expense