l Globe LTE8:10 PM15%A umindanao.mrooms.netQuestion 2Complete Mark o.00 out of 2.00 P Flag questionOn December 31, 2017, Tyrone companyhad the following cash balances:Cash inbank1,250,000Petty Cash Fund12,500Time deposit, one year, due March 1,2018250,000Savingdeposit125,000A check of P25,000 dated January 15, 2018in payment of accounts payable was recordedand mailed on December 28, 2017 In theDecember 31, 2017 statement of financialposition, what amount should be reported as"cash and cash equivalents"?Answer:1,662,500

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Answered: On December 31, 2017, Tyrone company…

Business

Accounting

On December 31, 2017, Tyrone company had the following cash balances:

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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