Answered: cash and cash equivalents

Business

Accounting

cash and cash equivalents

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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Question

At December 31, 2021, ABC Company has the following items in its safe. Which of the following should NOT be included under cash and cash equivalents at December 31, 2021?

a. A past-due promissory note in favor of ABC Company by its president

b. ABC Company's December 28, 2021, P50,000 check payable to NSR Company, an ABC Company's supplier

c. XYZ Company's check dated December 5, 2021, P15,000 payable to ABC Company

d. US$15,000 cash

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