Please help me with my homework.

REMINDERS!

*In problem 1-8 use the imprest fund system.

*give explanations to every entries.

PROBLEMS Problem 1-1 (LAA) On December 31, 2020, Albania Company provided the following data: Cash in bank 3,000,000 Time deposit - 30 days 1,000,000 Money market placement due on June 30, 2021 2,000,000 Saving deposit in closed bank 100,000 Sinking fund for bond payable due June 30, 2022 1,500,000 Petty cash fund 20,000 * The cash in bank included customer check of P200,000 outstanding for 18 months. * Check of P250,000 in payment of accounts payable was dated and recorded on December 31, 2020 but mailed to creditors on January 15, 2021. * Check of P100,000 dated January 31, 2021 in payment of accounts payable was recorded and mailed December 31, 2020. * The reporting period is the calendar year. The cash receipts journal was held open until January 15, 2021 during which time an amount of P450,000 was collected and recorded on December 31, 2020. Required: 1. Prepare adjusting entries on December 31, 2020. 2. Compute the total amount of cash and cash equivalents that should be reported on December 31, 2020. 3. Explain the presentation of the items excluded from cash and cash equivalents. 18Problem 1-2 (IAA) Argentina Company reported the following accounts on December 31, 2020: Cash on hand 1,000,000 Petty cash fund 50,000 Security Bank current account 2,000,000 PNB current account 1,500,000 BDO current account (overdraft) 200,000) BSP treasury bill - 120 days 3,000,000 BPI time deposit - 90 days 2,000,000 Bond sinking fund 2,500,000 * The cash on hand included a customer postdated check of P150,000 and postal money order of P50,000 * The petty cash fund included unreplenished petty cash vouchers for P10,000 and an employee check for P5,000 dated January 31, 2021. * The BPI time deposit is set aside for acquisition of land to be made in early January 2021. * The bond sinking fund is set aside for payment of bond payable due December 31, 2021. Required: 1. Prepare adjusting entries on December 31, 2020. 2. Compute the total amount of cash and cash equivalents. 3. Explain the presentation of the items excluded from cash and cash equivalents.Problem 1-7 (IAA) Laborious Company closed the accounts on June 30. The entity provided the following transactions: May 2 The entity established an imprest fund of P10,000. 29 The fund is replenished. The petty cash items include: Currency and coin 2,000 Postage 1,000 Supplies 3,000 Transportation 2,500 Miscellaneous expense 1,500 June 30 The fund was not replenished. The fund is composed of the following: Currency and coin 6,000 Supplies 2,000 Postage 1,000 Transportation 1,000 July 15 The fund is replenished and increased to P15,000. Currency and coin 3,000 Supplies 3,500 Postage 1,500 Transportation 1,500 Miscellaneous expense 500 Required: Prepare journal entries to record the transactions under imprest fund system and fluctuating fund system.Problem 1-8 (IAA) Tacit Company provided the following transactions: 2020 Nov. 2 The entity established an imprest petty cash fund of P10,000. 30 An examination of the cash fund disclosed: Currency and coin 3,000 Memoranda showing expenditures for: Postage 2,000 Supplies 5,000 A check was drawn to replenish the fund and to increase its amount to P20,000. Dec. 31 The fund was not replenished. Currency and coin 11,000 Memoranda showing expenditures for: Postage 3,000 Supplies 4,000 Deposit for 20 cases of softdrinks 2,000 2021 Jan. 2 The deposit for the 20 cases of softdrinks is collected. 31 A check was drawn to replenish the fund. Currency and coin 1,000 Postage stamps 500 Memoranda showing expenditures since November 30, 2020 for: Postage 5,000 Supplies 6,000 Payment of account 7,000 Required: Prepare journal entries to record the transactions. 24 O