Onshort December 31, 2018 Delectable Company had the following cash balances: Demand deposit account 5,000,000 Petty cash fund (all funds wer4e reimbursed at year end) 50,000 Time deposit - three months due January 15, 2019 2,000,000 Savings deposit 1,000,000 The demand deposit includes P200,000 of compensating balance arising from long term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. How much is the total amount of cash and cash equivalents tok be reported as at December 31, 2018?
Onshort December 31, 2018 Delectable Company had the following cash balances: Demand deposit account 5,000,000 Petty cash fund (all funds wer4e reimbursed at year end) 50,000 Time deposit - three months due January 15, 2019 2,000,000 Savings deposit 1,000,000 The demand deposit includes P200,000 of compensating balance arising from long term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. How much is the total amount of cash and cash equivalents tok be reported as at December 31, 2018?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 3CE
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Onshort December 31, 2018 Delectable Company had the following cash balances: Demand deposit account 5,000,000 Petty cash fund (all funds wer4e reimbursed at year end) 50,000 Time deposit - three months due January 15, 2019 2,000,000 Savings deposit 1,000,000 The demand deposit includes P200,000 of compensating balance arising from long term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. How much is the total amount of cash and cash equivalents tok be reported as at December 31, 2018?
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