Marc Company's checkbook balance at December 31, 2021 was P123,450. In addition, Marc held the following items in its safe on that date: Page 1 of 3 Check payable to Marc, deposited December 15 and included in December 31 checkbook balance, but returned by the bank on December 31 stamped "NSF". The check was redeposited on January 2, 2022 and cleared on January 9, 2022 Check payable to Marc dated January 2, 2022 in payment of a sale made in December | 2021, not included in December 31 checkbook balance | Check draw on Marc's account, payable to a vendor, dated and recorded in Marc's books on December 31, but not mailed until January 10, 2022 12,500 15,000 8,275 What is the amount of cash in Marc's December 31, 2021 statement of financial position? A. 127,675 C. 119,225 B. 123,450 D. 134,225

Marc Company's checkbook balance at December 31, 2021 was P123,450. In addition, Marc held the following items in its safe on that date: Page 1 of 3 Check payable to Marc, deposited December 15 and included in December 31 checkbook balance, but returned by the bank on December 31 stamped "NSF". The check was redeposited on January 2, 2022 and cleared on January 9, 2022 Check payable to Marc dated January 2, 2022 in payment of a sale made in December | 2021, not included in December 31 checkbook balance | Check draw on Marc's account, payable to a vendor, dated and recorded in Marc's books on December 31, but not mailed until January 10, 2022 12,500 15,000 8,275 What is the amount of cash in Marc's December 31, 2021 statement of financial position? A. 127,675 C. 119,225 B. 123,450 D. 134,225

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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