b. A customer's check for P200,000 was included in the December 20 deposit. It was returned by the bank stamped "NSF". No entry had yet been made by Masaya to reflect the return. c. A P500,000 Certificate of Deposits on which P20,000 of interest accrued to December 31 has just been recorded by debiting Interest Receivable and crediting Interest Income. The chief accountant proposes to report the P500,000 as "Cash in Bank". d. Masaya has a P50,000 petty cash fund. As of December 31, the fund custodian reported expense vouchers covering various expenses in the amount of P45,700 and cash of P4,200. e. Postage stamps that costs P1,000 are in the cash drawer. f. A cashier's check of P30,000 payable to Masaya is in the cash drawer, it is dated

b. A customer's check for P200,000 was included in the December 20 deposit. It was returned by the bank stamped "NSF". No entry had yet been made by Masaya to reflect the return. c. A P500,000 Certificate of Deposits on which P20,000 of interest accrued to December 31 has just been recorded by debiting Interest Receivable and crediting Interest Income. The chief accountant proposes to report the P500,000 as "Cash in Bank". d. Masaya has a P50,000 petty cash fund. As of December 31, the fund custodian reported expense vouchers covering various expenses in the amount of P45,700 and cash of P4,200. e. Postage stamps that costs P1,000 are in the cash drawer. f. A cashier's check of P30,000 payable to Masaya is in the cash drawer, it is dated

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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