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5. What amount should be reported as unrestricted cash on December 31,2020?

5. What amount should be reported as unrestricted cash on December 31,2020?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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NNN Company provided the following information with respect to its cash and cash equivalents on December 31,2020. Checking account at First Bank ( 200,000 ) Checking account at Second Bank 3,500,000 Treasury bonds Payroll account 1,000,000 500,000 Value added tax account 400,000 Foreign bank account - restricted (in equivalent pesos) 2,000,000 Postage Stamps 50,000 Employee's Postdated check IOU from president's brother 300,000 750,000 Credit memo from a vendor for a purchase return 80,000 Traveler's check 300,000 Not-sufficient-fund check 150,000 in currency and expense receipts for P20,000 ) Petty cash fun ( P30, 000 50,000 Money order 180,000 15. What amount should be reported as unrestricted cash on December 31,2020?
Transcribed Image Text:NNN Company provided the following information with respect to its cash and cash equivalents on December 31,2020. Checking account at First Bank ( 200,000 ) Checking account at Second Bank 3,500,000 Treasury bonds Payroll account 1,000,000 500,000 Value added tax account 400,000 Foreign bank account - restricted (in equivalent pesos) 2,000,000 Postage Stamps 50,000 Employee's Postdated check IOU from president's brother 300,000 750,000 Credit memo from a vendor for a purchase return 80,000 Traveler's check 300,000 Not-sufficient-fund check 150,000 in currency and expense receipts for P20,000 ) Petty cash fun ( P30, 000 50,000 Money order 180,000 15. What amount should be reported as unrestricted cash on December 31,2020?
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