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Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draftA Traveler's check Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 40,000 S. 40,000 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 6,500 What is the cash balance to be reported on the statement of financial position? Checking account - Tribank Savings account - Unibank Postage stamps

Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draftA Traveler's check Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 40,000 S. 40,000 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 6,500 What is the cash balance to be reported on the statement of financial position? Checking account - Tribank Savings account - Unibank Postage stamps

FINANCIAL ACCOUNTING
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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Kindly answer in good accounting form. Preferably in table :)

Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draft 40,000 Traveler's check 40,000 Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 Checking account - Tribank Savings account - Unibank Postage stamps 6,500 What is the cash balance to be reported on the statement of financial position:
Transcribed Image Text:Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draft 40,000 Traveler's check 40,000 Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 Checking account - Tribank Savings account - Unibank Postage stamps 6,500 What is the cash balance to be reported on the statement of financial position:
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