.ABC Corp held the following items on Dec 31, 20X1: Cash on hand, P50,000 Petty cash fund (currencies and coins P3,000) , P5,000 Customers check #453 dated Dec 30, P45,000 Customer check #7600 dated Jan 2, 20X2, P23,000 NSF check (received from the bank dated Dec 28, 20X1), P4,000 Cash in bank (per bank statement) P37,000 Outstanding checks for the month, P4,800 What amount should ABC Corp. show as cash at Dec 31, 20X1? 130,200 132,200 137,000 179,000
.ABC Corp held the following items on Dec 31, 20X1: Cash on hand, P50,000 Petty cash fund (currencies and coins P3,000) , P5,000 Customers check #453 dated Dec 30, P45,000 Customer check #7600 dated Jan 2, 20X2, P23,000 NSF check (received from the bank dated Dec 28, 20X1), P4,000 Cash in bank (per bank statement) P37,000 Outstanding checks for the month, P4,800 What amount should ABC Corp. show as cash at Dec 31, 20X1? 130,200 132,200 137,000 179,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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22.ABC Corp held the following items on Dec 31, 20X1:
Cash on hand, P50,000
Petty cash fund (currencies and coins P3,000) , P5,000
Customers check #453 dated Dec 30, P45,000
Customer check #7600 dated Jan 2, 20X2, P23,000
NSF check (received from the bank dated Dec 28, 20X1), P4,000
Cash in bank (per bank statement) P37,000
Outstanding checks for the month, P4,800
What amount should ABC Corp. show as cash at Dec 31, 20X1?
Cash on hand, P50,000
Petty cash fund (currencies and coins P3,000) , P5,000
Customers check #453 dated Dec 30, P45,000
Customer check #7600 dated Jan 2, 20X2, P23,000
NSF check (received from the bank dated Dec 28, 20X1), P4,000
Cash in bank (per bank statement) P37,000
Outstanding checks for the month, P4,800
What amount should ABC Corp. show as cash at Dec 31, 20X1?
130,200
132,200
137,000
179,000
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