Aguas Company reported total cash and cash equivalents of P5,465,000 on December 31, 2020, which includes the following: Two 180-day certificates of deposit, totaling Check dated January 6, 2021 amounting to Cash accumulated in special fund that will be used for plant expansion Commercial paper due in 100 days Currency and coins in petty cash fund (including unreplenished vouchers of P2,500) P 650,000 225,000 1,200,000 1,000,000 16,000 Aguas Company has agreed to maintain a cash balance of P450,000 which will not be available for withdrawal to ensure future credit availability. The said amount was included in the balance above. What is the total amount that Aguas Company should report as "cash and cash quivalents" in the current assets section of the statement of financial position on December 31, 2020?

Aguas Company reported total cash and cash equivalents of P5,465,000 on December 31, 2020, which includes the following: Two 180-day certificates of deposit, totaling Check dated January 6, 2021 amounting to Cash accumulated in special fund that will be used for plant expansion Commercial paper due in 100 days Currency and coins in petty cash fund (including unreplenished vouchers of P2,500) P 650,000 225,000 1,200,000 1,000,000 16,000 Aguas Company has agreed to maintain a cash balance of P450,000 which will not be available for withdrawal to ensure future credit availability. The said amount was included in the balance above. What is the total amount that Aguas Company should report as "cash and cash quivalents" in the current assets section of 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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