On December 31, 2022, the cash account of AA Company shows the following composition: Petty cash fund, P180,000; Cash in bank (payroll fund). P2,000,000, Interest and dividend fund, P250,000; Tax fund, P120,000; Cash in bank (current account). P3,000,000; Certificate of deposit (terms 90 days), P1,000,000; Certificate of deposit (terms 180 days). P1.500,000; Cash in foreign bank-restricted, P500.000; Money market fund, (60 days), P500,000; Money market funds (6 months), P900,000; Customer's check dated February 15, 2021, P60,000: Customer's check dated December 30, 2020 returned for lack of funds, P40,000: A 30-day BSP treasury bill, P1,000,000; A 3-year BSP treasury bill acquired three months prior to maturity, P1 200,000; Sinking fund cash, P800,000,Contingent fund, P900,000 Fund for the acquisition of fixed asset, P500,000, Travelers checks, P60,000, and Cashiers' checks, What is the correct cash and cash equivalents balance to be reported by AA Company on P100,000. December 31, 2022?
On December 31, 2022, the cash account of AA Company shows the following composition: Petty cash fund, P180,000; Cash in bank (payroll fund). P2,000,000, Interest and dividend fund, P250,000; Tax fund, P120,000; Cash in bank (current account). P3,000,000; Certificate of deposit (terms 90 days), P1,000,000; Certificate of deposit (terms 180 days). P1.500,000; Cash in foreign bank-restricted, P500.000; Money market fund, (60 days), P500,000; Money market funds (6 months), P900,000; Customer's check dated February 15, 2021, P60,000: Customer's check dated December 30, 2020 returned for lack of funds, P40,000: A 30-day BSP treasury bill, P1,000,000; A 3-year BSP treasury bill acquired three months prior to maturity, P1 200,000; Sinking fund cash, P800,000,Contingent fund, P900,000 Fund for the acquisition of fixed asset, P500,000, Travelers checks, P60,000, and Cashiers' checks, What is the correct cash and cash equivalents balance to be reported by AA Company on P100,000. December 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On December 31, 2022, the cash account of AA Company shows the following
composition:
Petty cash fund, P180,000; Cash in bank (payroll fund). P2,000,000, Interest and dividend fund, P250,000; Tax fund, P120,000; Cash in bank (current account). P3,000,000; Certificate of deposit (terms 90 days), P1,000,000; Certificate of deposit (terms 180 days). P1.500,000; Cash in foreign bank-restricted, P500.000; Money market fund, (60 days), P500,000; Money market funds (6 months), P900,000; Customer's check dated February 15, 2021, P60,000: Customer's check dated December 30, 2020 returned for lack of funds, P40,000: A 30-day BSP treasury bill, P1,000,000; A 3-year BSP treasury bill acquired three months prior to maturity, P1 200,000; Sinking fund cash, P800,000,Contingent fund, P900,000 Fund for the acquisition of fixed asset, P500,000, Travelers checks, P60,000, and Cashiers' checks,
What is the correct cash and cash equivalents balance to be reported by AA Company on
P100,000.
December 31, 2022?
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