Professional Documents
Culture Documents
Home
About
Ask Kuya Joseph
Problem Tests
Archive
Archive for the ‘Cash & Non-Cash Items’ Category
* Para madali nyo matutunan ito, kung makaka-encounter ka ng hindi mo talaga alam na
item, itanong mo lang sa sarili mo: “readily available ba ito pag kinailangan kong
gastusin?” Yun ang lagi mong itatanong sa sarili mo para maconsider mo sya as cash.
CASH ITEMS:
Traveler’s Check – checked released by the bank that can be used at any country. Minsan,
ang mga “travelers” o manlalakbay, diba hindi naman agad sila nagkakaroon ng local
currency ng bansang pinupuntahan nila unless pumunta agad sila sa bank at magpapalit. Eh
papano kung nagutom sila? Di naman nila pwedeng ipambayad ang US Dollars sa China.
So, para may panggastos sila for the mean time na wala pa silang cash, maari nilang
gamitin yung traveler’s check as a legal tender. Kaya pang-“traveler” talaga sya.
PrivacyCheck
Crossed & Cookies: Thisyung
– ito site uses
maycookies. By continuing
dalawang to useparallel
diagonal this website,
lineyouna
agree
nakato their
linyause.sa upper-left
To find out more, including how to control cookies, see here: Cookie Policy
hand corner ng check. Cash naman ito. Iyon nga lang, hindi sya pedeng ipapalit sa cash,
pede lang sya ideposito sa bank. Eh papanong naconsider na cash to kung hindi pede
ipapalit agad na cash? Eh pede mo namang ideposito ito tapos iwithdraw mo diba? Kaya Close and accept
cash to.
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 1/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
Treasury bills:
Current – if maturity from DATE of PURCHASE is within 3 months (cash equivalents)
Cashier’s Check – considered as cash ito kasi guaranteed ito ng bank, and due and
demandable.
*eh what makes the cashier’s check and manager’s check so special compared to a regular
check? Well, ang CC or MC ay “guaranteed” ng bank. Unlike ng regular check, ang
regular check (customer’s check) ay maaring tumalbog.
Unrealeased Checks – ito yung mga dapat ipangbabayad sa mga creditor pero hindi pa
na-rerelease so hawak mo pa yung cheke. Kung hawak mo pa yung cheke, e di cash mo pa
yun. Sa Law, may mga rules and regulations regarding payment/endorsement of check. Isa
sa mga proof na bayad na ang debtor ay pag nasa creditor na ang check.
Deposits in Foreign Banks – dapat unrestricted sya para considered as cash. It should be
measured at its spot rate or the exchange rate at the balance sheet date.
Cash Appropriated for short term purposes – kahit na appropriated na sya, pero kung
ang purpose ay for short term lang naman, classified as cash parin sya. Tandaan nyo lang
sa appropriation ang “like father like son” principle. Kung para saan ang purpose ng
appropriation (whether short or long term) ay siya rin ang appropriation.
Compensating Balance – ito yung minimum amount na dapat mo ideposito sa bank. Pag
bumaba ka sa compensating balance, magkakaroon ka ng bank charges (parang yung
nangyari sa pera ko dati nung bata ako kaya naubos heheh) as long as NOT
RESTRICTED, cash parin sya.
Postage stamps – hindi ito pedeng ipambayad kay aling nena pambili ng kendi. Hindi sya
cash. Prepaid expense.
Treasury bills:
Non- Current – if maturity from DATE of PURCHASE is more than 3 months
(temporary investment)
Post-dated check – since “post”-dated sya, ibig sabihin, dated sya on a future date. Ang
cheke, non-negotiable o hindi mo pedeng ipapalit sa banko when the date written on the
face of the check ay hindi pa ngayon (or future dated). Ibalik sa Accounts Payable(payor)
or Accounts Receivable(payee)
Privacy & Cookies: kungBynag-entry
This site uses cookies. na.
continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
NSF Check – tumalbog na cheke.
Close and accept
Restricted Deposits in Foreign Banks – tunog palang, hindi na cash. Restricted kasi sya,
hindi readily available.
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 2/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
Cash Appropriated for LONG term purposes – ulit, “like father, like son”. Kung para
saan ang purpose, sya rin ang classification.
Sinking fund (or sometimes Bond Sinking Fund) – is comprised of cash and investment
securities that have been accumulated for the stated purpose of repaying a specific loan
(Intermediate Accounting, Stice , Stice & Skousen). So, in short, appropriated sya for long
term purposes.
Stock Certificates – baka may makulit na prof na magsali nito eh. Hindi to cash at HINDI
rin ito negotiable instrument. Ito lang ay ang proof na may hawak kang stocks. Kasi ang
“stocks” hindi yan barya barya o ginto ginto na ipinamimigay pag bumili ka sa isang
korporasyon. Ang stocks ay intangible (o, hindi intangible asset ah ginamit ko lang yung
word na “intangible” as a description, wag malito) kasi hindi ito nakikita o nahahawakan.
So para may proof ka na may hawak ka ng stocks, binibigyan ka ng issuing corporation ng
Stock Certificate at dun naka-state kung ilang stocks ang hawak mo at kung magkakano.
Stale Check – ito yung checks na hindi napapalitan ng payee (o binayaran) for a long time
(usually ang silent rule ay 6 months, unless otherwise specified). Hindi ito cash kasi
usually ang gagawin ng kumpanyang nag-issue nito ay mag-iissue ng “stop payment
order” sa bank. So, babalik sa cash yan ng issuing company. Hindi na ito cash on the part
of the payee. Magiging receivable ulit yung amount na yun kasi nga na-stale, “napanis”
yung cheke.
Follow-up Problem
Author: luvrgurl
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 3/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
DAIF CHECKS: deduct the 20,000 from the balance. Bakit? Kasi tumalbog yung check ng
customer, therefore balik sya sa receivables dahil wala naman tayo nakolekta.
Savings Account: do nothing. It’s cash and it’s already included in the cash balance.
IOU’s: deduct the P1,200. Bakit? kasi pautang natin to sa mga tao kaya nga “I owe you”,
meaning to say, somebody owes us money, therefore must be classified as AR and not
Cash.
Postage Stamp: deduct the 600. Bakit? Dahil, uulitin ko, hindi ka makakabili ng kendi sa
tindahan ni aling Nena na bayad mo ay Stamp, baka batuhin ka pa ng bote ng suka,
hahaha. Prepaid Expense ang Stamps, hindi cash.
Bank Draft: do nothing. Ano ba ang bank draft? Cash equivalent yan. Para yang cashier’s
check. Pay to cash. Kunyari, bibili ka ng worth $2,000,000 na inventory. Magdadala ka ba
ng cash worth 2M? or credit card? Syempre hindi. You may pay either through a check or a
bank draft. So good as cash to.
Cash in Sinking Fund: deduct the 500,000. Bakit? Though it’s cash, but it’s restricted for
long term purposes. Following the principle of “Res Perit Domino”, meaning “thing
follows it’s master”, it’s also considered as a Long Term Asset
Customers’ Check dated Jan. 2010: Syempre, deduct the 5,400. Bakit? Kasi post dated ang
check. Hindi pa sya readily convertible into cash. Therefore, still considered as an AR.
Travel Advances: deduct the 4.000. Syempre, hindi naman to cash kasi nga “advances”
meaning binigay mo yung pera for travel purposes at ibabalik sayo, thus, it’s an AR.
Traveler’s Check (not travel’s check): syempre included as cash to. Usually eto yung cheke
na ginagamit ng mga nangingibang bansa para maiwasan ang hassle ng pagpapapalit ng
foreign currency.
Therefore:
(20,000) DAIF
(1,200) IOU
(600) Postages
__________
Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
1,674,400 is the correct Cash Balance
Close and accept
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 4/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
Advertisements
Report this ad
Report this ad
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 5/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
NAGBABALIK!!!
Salamat po!!
Thanks!!
IMPORTANT NOTE
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 6/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
Paunawa :D
Sorry talaga kung hindi po ako nakakapagpost
recently, I've been very busy for the past couple
of months. I promise I'llpost new lectures as soon
as I can. :D Always check the "recent comments"
or the "recent posts", usually lumalabas dun pag
may comments ako naaapprove at nagrereply ako
sa mga katanungan. Thanks!!
Recent Comments
Recent Posts
Error Correction (Sample Problem) –
counterbalancing errors
Adjusting Entries questions
Deposits in Transit & Outstanding Checks
Operating Lease
Accrual to Cash Accounting
Interest Expense
Notes Receivable/Payable
Cash (bank recon and cash shortage) –
audprob sample problem
Notice po sa lahat
Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
Hello po sa lahat, let's try to maintain a good
academic atmosphere in this blog by observing
Close and accept
correct usage of punctuations and capitalization
of letters. Di naman ako strict sa
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 7/9
9/11/2018 Cash & Non-Cash Items | Kuya Joseph's Blog
Salamat po!!
Categories
Margin of Safety
Merchandising & Manufacturing
Notes Receivable / Payable
NSF Check and Bank Error treatment in
Proof of Cash (for aud prob ppol)
Operating Lease
Petty Cash, Part 1
Petty Cash, Part 2
Petty Cash, Part 3
Postal Cash/Money Order
Proof of Cash
Receivable: Factoring
Receivable: Factoring (with questions)
Receivables Questions and Answers
Reversing Entries
Uncategorized
Warranty Liability (part 1)
Warranty Liability (part 2)
Warranty Liabilty (part 3)
Archives
March 2011
July 2010
February 2010
January 2010
December 2009
November 2009
Search
Advertisements
Report this ad
Top
BlogPrivacy
at WordPress.com.
& Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
https://kuyajosephlecture.wordpress.com/category/cash-non-cash-items/ 9/9