A check of P43,000 was drawn on December 31,2020 payable to petty cash. The check book balance of CCC Company on December 31,2020 was P4,000,000. Data about certain cash items follow. A customer amounting to P200,000 dated January 2,2021 was not included in the December 31,2020 checkbook balance. Another customer check for P500,000 deposited on December 22,2020 was included in its checkbook balance but returned by the bank for insufficiency of fund. The check was deposited on January 5, 2021 and cleared two days. A P400,000 check payable to supplier dated and recorded on December 30,2020 was mailed on January 16,2021. A petty cash fund of P50,000 with the following summary on December 31,2020: Coins and Currencies 5,000 Petty cash vouchers 43,000 Return value of 20 cases of soft drinks 2,000 50,000 3. What is the “cash” balance on December 31,2020?
The check book balance of CCC Company on December 31,2020 was P4,000,000.
Data about certain cash items follow. A customer amounting to P200,000 dated January 2,2021 was not included in
the December 31,2020 checkbook balance. Another customer check for P500,000 deposited on December 22,2020 was
included in its checkbook balance but returned by the bank for
insufficiency of fund. The check was deposited on January 5, 2021 and
cleared two days. A P400,000 check payable to supplier dated and recorded on December
30,2020 was mailed on January 16,2021. A petty cash fund of P50,000 with the following summary on December
31,2020:
Coins and Currencies 5,000
Petty cash vouchers 43,000
Return value of 20 cases of soft drinks 2,000
50,000
A check of P43,000 was drawn on December 31,2020 payable to petty cash.
The check book balance of CCC Company on December 31,2020 was P4,000,000.
Data about certain cash items follow. A customer amounting to P200,000 dated January 2,2021 was not included in
the December 31,2020 checkbook balance. Another customer check for P500,000 deposited on December 22,2020 was
included in its checkbook balance but returned by the bank for
insufficiency of fund. The check was deposited on January 5, 2021 and
cleared two days. A P400,000 check payable to supplier dated and recorded on December
30,2020 was mailed on January 16,2021. A petty cash fund of P50,000 with the following summary on December
31,2020:
Coins and Currencies 5,000
Petty cash vouchers 43,000
Return value of 20 cases of soft drinks 2,000
50,000
3. What is the “cash” balance on December 31,2020?
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