At year-end, Slamdunk Company reported cash and cash equivalents which comprised the following: Cash on hand PhP 600,000 Demand deposit 3,000,000 Certificate of deposit 2,500,000 Postdated customer check 250,000 Petty cash fund 100,000 Traveler’s check 250,000 Manager’s check 150,000 Money order 350,000 What total amount should be reported as “cash” at year-end? Answer: 4,450,000 Solutions for the answer
At year-end, Slamdunk Company reported cash and cash equivalents which comprised the following:
Cash on hand PhP 600,000
Demand deposit 3,000,000
Certificate of deposit 2,500,000
Postdated customer check 250,000
Petty cash fund 100,000
Traveler’s check 250,000
Manager’s check 150,000
Money order 350,000
What total amount should be reported as “cash” at year-end?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
