ABC had the following items at December 31, 2022: • Coins and currencies - P26,435 . • Check from customer dated January 31, 2023 P66,430 • Cash set aside for the purchase of a machinery - P275,000 BDO checking account with a debit balance - P45,250 . Check from a customer returned by the bank marked NSF - P42,800 BPI checking account with a credit balance - P532,250 • Three-month commercial paper - P150,000 . Determing the amount of "Cash and Cash Equivalent" to be reported in the balance sheet as at December 31, 2022.
ABC had the following items at December 31, 2022: • Coins and currencies - P26,435 . • Check from customer dated January 31, 2023 P66,430 • Cash set aside for the purchase of a machinery - P275,000 BDO checking account with a debit balance - P45,250 . Check from a customer returned by the bank marked NSF - P42,800 BPI checking account with a credit balance - P532,250 • Three-month commercial paper - P150,000 . Determing the amount of "Cash and Cash Equivalent" to be reported in the balance sheet as at December 31, 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:ABC had the following items at December 31, 2022:
• Coins and currencies - P26,435
• Check from customer dated January 31, 2023 - P66,430
• Cash set aside for the purchase of a machinery - P275,000
• BDO checking account with a debit balance - P45,250
. Check from a customer returned by the bank marked NSF - P42,800
• BPI checking account with a credit balance - P532,250
Three-month commercial paper - P150,000
Determing the amount of "Cash and Cash Equivalent" to be reported in the balance
sheet as at December 31, 2022.
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