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Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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For the next two (2) questions: ABC Company had the following items being considered as cash and cash equivalents on December 31, 2021: Cash on hand P500,000 Petty cash fund (replenished on December 31, 2021) X Bank current account 20,000 1,000,000 Y Bank current account No. 1 400,000 (50,000) 3,000,000 Y Bank current account No. 2 BSP treasury bill - 60 days Z Bank time deposit - 30 days 2,000,000 Additional information: • The cash on hand included a customer postdated check of P100,000 and postal money order of P40,000. A check for P200,000 was drawn and recorded against X Bank account dated December 15, 2021, but mailed to the payee on January 5, 2022. • The BSP treasury bill was purchased on December 1, 2021. • The Z time deposit was purchased on December 15, 2021 and is set aside for acquisition of land in 2022. 331 Whattatalamount-ef cach should-be reportertrbecember 1, 20202 34) What total amount of cash equivalents should be reported on December 31, 2020?
Transcribed Image Text:For the next two (2) questions: ABC Company had the following items being considered as cash and cash equivalents on December 31, 2021: Cash on hand P500,000 Petty cash fund (replenished on December 31, 2021) X Bank current account 20,000 1,000,000 Y Bank current account No. 1 400,000 (50,000) 3,000,000 Y Bank current account No. 2 BSP treasury bill - 60 days Z Bank time deposit - 30 days 2,000,000 Additional information: • The cash on hand included a customer postdated check of P100,000 and postal money order of P40,000. A check for P200,000 was drawn and recorded against X Bank account dated December 15, 2021, but mailed to the payee on January 5, 2022. • The BSP treasury bill was purchased on December 1, 2021. • The Z time deposit was purchased on December 15, 2021 and is set aside for acquisition of land in 2022. 331 Whattatalamount-ef cach should-be reportertrbecember 1, 20202 34) What total amount of cash equivalents should be reported on December 31, 2020?
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