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Mickey Mouse Corporation included the following items in their general ledger account “Cash" which amounting to P3,050,000 on December 31, 2021: Short-term treasury bills Savings account with BDO, earmarked for an office equipment due for delivery in January 2022 IOUS from employee Undeposited checks from customers Undeposited bills and coins received from customers Customers' checks dated January 2022 Travel advances P10,000 820,000 7,500 200,000 100,900 25,400 10,000 Petty cash fund (including expense receipts for P1,500) DAIF checks from customers returned by bank 15,000 30,000

Mickey Mouse Corporation included the following items in their general ledger account “Cash" which amounting to P3,050,000 on December 31, 2021: Short-term treasury bills Savings account with BDO, earmarked for an office equipment due for delivery in January 2022 IOUS from employee Undeposited checks from customers Undeposited bills and coins received from customers Customers' checks dated January 2022 Travel advances P10,000 820,000 7,500 200,000 100,900 25,400 10,000 Petty cash fund (including expense receipts for P1,500) DAIF checks from customers returned by bank 15,000 30,000

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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Determine the total amount that should be included in cash balance at December 31, 2021

Mickey Mouse Corporation included the following items in their general ledger account “Cash" which amounting to P3,050,000 on December 31, 2021: Short-term treasury bills Savings account with BDO, earmarked for an office equipment due for delivery in January 2022 IOUS from employee Undeposited checks from customers Undeposited bills and coins received from customers Customers' checks dated January 2022 Travel advances P10,000 820,000 7,500 200,000 100,900 25,400 10,000 Petty cash fund (including expense receipts for P1,500) DAIF checks from customers returned by bank 15,000 30,000
Transcribed Image Text:Mickey Mouse Corporation included the following items in their general ledger account “Cash" which amounting to P3,050,000 on December 31, 2021: Short-term treasury bills Savings account with BDO, earmarked for an office equipment due for delivery in January 2022 IOUS from employee Undeposited checks from customers Undeposited bills and coins received from customers Customers' checks dated January 2022 Travel advances P10,000 820,000 7,500 200,000 100,900 25,400 10,000 Petty cash fund (including expense receipts for P1,500) DAIF checks from customers returned by bank 15,000 30,000
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