Choose the letter of the correct asnwer: Callous Company reported the following accounts on December 31, 2020: Cash on hand - 200,000;' Petty cash fund - 20,000; Philippine Bank current account - 5,000,000; City Bank current account No. 1 - 4,000,000; City Bank current account No. 2 (overdraft) - (100,000); Asia Bank saving account - 250,000;Asia Bank time deposit, 90 days - 2,000,000;* Additional data: > Cash on hand included the following items: Customer check for P35,000 returned by bank December 26, 2020 due to insufficient fund but subsequently redeposited and cleared by the bank on January 10, 2021. > Customer check for P15,000 dated January 10, 2021, received December 23, 2020.> The petty cash fund consisted of the following items: Currency and coins - 5,000; IOUs from officers - 2,000; Unreplenished petty cash vouchers 12,000.> Included among the checks drawn by Callous Company against the Philippine Bank current account and recorded in December 2020 were the following: (a.) Check written and dated December 23, 2020 and delivered to payee on January 31, 2021, P25,000. (b.) Check written December 28, 2020, P45,000.Compute for the adjusted cash on hand: a.150,000 b.200,000 c.100,000 d.50,000
Choose the letter of the correct asnwer:
Callous Company reported the following accounts on December 31, 2020:
Cash on hand - 200,000;'
Petty cash fund - 20,000;
Philippine Bank current account - 5,000,000;
City Bank current account No. 1 - 4,000,000;
City Bank current account No. 2 (overdraft) - (100,000);
Asia Bank saving account - 250,000;Asia Bank time deposit, 90 days - 2,000,000;*
Additional data: >
Cash on hand included the following items:
Customer check for P35,000 returned by bank December 26, 2020 due to insufficient fund but subsequently redeposited and cleared by the bank on January 10, 2021. >
Customer check for P15,000 dated January 10, 2021, received December 23, 2020.>
The petty cash fund consisted of the following items: Currency and coins - 5,000; IOUs from officers - 2,000; Unreplenished petty cash vouchers 12,000.>
Included among the checks drawn by Callous Company against the Philippine Bank current account and recorded in December 2020 were the following:
(a.) Check written and dated December 23, 2020 and delivered to payee on January 31, 2021, P25,000.
(b.) Check written December 28, 2020, P45,000.Compute for the adjusted cash on hand:
a.150,000
b.200,000
c.100,000
d.50,000
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