Arvin Company had the following account balances on December 31, 2013: 2,250,000 125,000 Cash in bank Cash on hand Cash restricted for addition to plant expected to be disbursed in 2014 1,600,000 Cash in bank included P600,000 of compensating balance against short-term borrowing arrangement. The compensating balance, is not legally restricted as to withdrawal. What total cash should be reported under current assets on December 31, 2013? O 1,775,000 2,250,000 O 2,375,000 O 3,975,000

Arvin Company had the following account balances on December 31, 2013: 2,250,000 125,000 Cash in bank Cash on hand Cash restricted for addition to plant expected to be disbursed in 2014 1,600,000 Cash in bank included P600,000 of compensating balance against short-term borrowing arrangement. The compensating balance, is not legally restricted as to withdrawal. What total cash should be reported under current assets on December 31, 2013? O 1,775,000 2,250,000 O 2,375,000 O 3,975,000

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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Subject: accounting
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