8.The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI current account , P302,000 Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1) Cash in PNB savings account, P65,000 Cash in Peninsula Bank which is under receivership, P40,000 Dollar exchange rate at Dec 31 was P53.60:$1 How much is the cash balance at Dec 31, 20X1? 621,000 619,400 581,400 579,000
8.The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI current account , P302,000 Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1) Cash in PNB savings account, P65,000 Cash in Peninsula Bank which is under receivership, P40,000 Dollar exchange rate at Dec 31 was P53.60:$1 How much is the cash balance at Dec 31, 20X1? 621,000 619,400 581,400 579,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
28.The following are items found in the records of ABC Corp at Dec 31, 20X1:
Cash in BPI current account , P302,000
Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1)
Cash in PNB savings account, P65,000
Cash in Peninsula Bank which is under receivership, P40,000
Dollar exchange rate at Dec 31 was P53.60:$1
How much is the cash balance at Dec 31, 20X1?
Cash in BPI current account , P302,000
Cash in BDO dollar account, P212,000 (when exchange rate was P53:$1)
Cash in PNB savings account, P65,000
Cash in Peninsula Bank which is under receivership, P40,000
Dollar exchange rate at Dec 31 was P53.60:$1
How much is the cash balance at Dec 31, 20X1?
621,000
619,400
581,400
579,000
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