AA Company maintained cash in bank at Lunar Bank. This account is used for disbursement to various suppliers and had P3,245,000 balance as of December 31, 2022. The selected items below are part of the recorded disbursements in 2022 which are not yet encash by the payee: Check payable to a supplier dated 3/31/2022, released 3/1/2022 P215,000 Check payable to a supplier dated 12/30/2022, released 1/2/2022 195,000 Check payable to a supplier dated 12/31/2022, released 11/15/2022 320,000 Check payable to a supplier dated 1/4/2023, released 12/28/2022 100,000 Check payable to a supplier dated 12/26/2022, released 12/30/2022 185,000 What is the correct cash balance as of December 31, 2022?
AA Company maintained cash in bank at Lunar Bank. This account is used for disbursement to various suppliers and had P3,245,000 balance as of December 31, 2022. The selected items below are part of the recorded disbursements in 2022 which are not yet encash by the payee: Check payable to a supplier dated 3/31/2022, released 3/1/2022 P215,000 Check payable to a supplier dated 12/30/2022, released 1/2/2022 195,000 Check payable to a supplier dated 12/31/2022, released 11/15/2022 320,000 Check payable to a supplier dated 1/4/2023, released 12/28/2022 100,000 Check payable to a supplier dated 12/26/2022, released 12/30/2022 185,000 What is the correct cash balance as of December 31, 2022?
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section: Chapter Questions
Problem 6AP
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AA Company maintained cash in bank at Lunar Bank. This account is used for disbursement to various suppliers and had P3,245,000 balance as of December 31, 2022. The selected items below are part of the recorded disbursements in 2022 which are not yet encash by the payee:
Check payable to a supplier dated 3/31/2022, released 3/1/2022 |
P215,000 |
Check payable to a supplier dated 12/30/2022, released 1/2/2022 |
195,000 |
Check payable to a supplier dated 12/31/2022, released 11/15/2022 |
320,000 |
Check payable to a supplier dated 1/4/2023, released 12/28/2022 |
100,000 |
Check payable to a supplier dated 12/26/2022, released 12/30/2022 |
185,000 |
What is the correct cash balance as of December 31, 2022?
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