40. Marc Company’s checkbook balance at December 31, 2021 was P167,085. In addition, Marc held the following items in its safe on that date: Check payable to Marc dated January 2, 2022 in payment of a sale made in December 2021, not included in December 31 checkbook balance P 15,000 Check draw on Marc’s account, payable to a vendor, dated and recorded in Marc’s books on December 31, but not mailed until January 10, 2022 8,275 Included in the book receipts which was recorded as P54,000. No correction was made yet by Marc Company. 45,000 What is the amount of cash in Marc’s December 31, 2021 statement of financial position?
40. Marc Company’s checkbook balance at December 31, 2021 was P167,085. In addition, Marc held the following items in its safe on that date: Check payable to Marc dated January 2, 2022 in payment of a sale made in December 2021, not included in December 31 checkbook balance P 15,000 Check draw on Marc’s account, payable to a vendor, dated and recorded in Marc’s books on December 31, but not mailed until January 10, 2022 8,275 Included in the book receipts which was recorded as P54,000. No correction was made yet by Marc Company. 45,000 What is the amount of cash in Marc’s December 31, 2021 statement of financial position?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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40. Marc Company’s checkbook balance at December 31, 2021 was P167,085. In addition, Marc held the following items in its safe on that date:
Check payable to Marc dated January 2, 2022 in payment of a sale made in December 2021, not included in December 31 checkbook balance P 15,000
Check draw on Marc’s account, payable to a vendor, dated and recorded in Marc’s books on December 31, but not mailed until January 10, 2022 8,275
Included in the book receipts which was recorded as P54,000. No correction was made yet by Marc Company. 45,000
What is the amount of cash in Marc’s December 31, 2021 statement of financial position?
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