Additional information: • The cash on hand includes a post-dated check for P100,000 received from a customer and postal money order of P60,000 • The petty cash fund includes unreplenished vouchers for P10,000 and an accommodated check of P5,000 dated January 5, 2021 • A check for P300,000 had been written and recorded against the Metro Bank account on December 30, 2020 but the check was not mailed until January 2, 2021. • The Global Bank time deposit account is for the purchase of an adjacent land to be disbursed on March 31, 2021. What is the total cash and cash equivalents to be presented on the Statement of Financial Position on December 31, 2020?

Additional information: • The cash on hand includes a post-dated check for P100,000 received from a customer and postal money order of P60,000 • The petty cash fund includes unreplenished vouchers for P10,000 and an accommodated check of P5,000 dated January 5, 2021 • A check for P300,000 had been written and recorded against the Metro Bank account on December 30, 2020 but the check was not mailed until January 2, 2021. • The Global Bank time deposit account is for the purchase of an adjacent land to be disbursed on March 31, 2021. What is the total cash and cash equivalents to be presented on the Statement of Financial Position on December 31, 2020?

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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