Restricted foreign bank account (equivalent to pesos_IOU from eldest brother of Jonathan Fabian, the company controllerListed stocks held as temporary investmentsPayroll accountPetty Cash fund (net of expense receipts pf P 6,000)1,000,00010,00015,000500,0004,000Additional information:1. Check of P 200,000 in payment of accounts payable was recorded December 31, 2020 but mailedto suppliers on January 5, 2021.2. Check of P 100,000 dated January 5, 2021 in payment of accounts payable was recorded and mailedon December 31, 2020.3. Check of P 50,000 dated January 15, 2020 in payment of accounts payable was recorded and mailedon January 15, 2020. As of the reporting period, the same has not been encashed by the payee andstill outstanding.16. How much cash and cash equivalents should Amsterdam Corporation report on the December 31,2020 statement of financial position?

Answered: Image /qna-images/answer/ca070990-efdc-40fa-aa58-11b22c97ce7e.jpg

OU from eldest brother of Jon Listed stocks held as temporam Payroll account Petty Cash fund (net of expen: information: of P 200,000 in payment of opliers on January 5, 2021. of P 100,000 dated January 5 cember 31, 2020. = of P 50,000 dated January 15

OU from eldest brother of Jon Listed stocks held as temporam Payroll account Petty Cash fund (net of expen: information: of P 200,000 in payment of opliers on January 5, 2021. of P 100,000 dated January 5 cember 31, 2020. = of P 50,000 dated January 15

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

From the following Balance Sheets of Dinesh Ltd. Particulars 2019 Rs. 2020 Rs. 2021 Rs. Equity & Liabilities Equity Share Capital 500 800 900 12% preference Share Capital 400 200 300 General Reserve 120 210 280 14% Debentures 100 250 150 Creditors 80 120 140 Bills Payable 100 80 60 Outstanding Expenses 20 30 10 1,320 1,690 1,840 Assets Fixed Assets 500 700 700 Investments 300 330 420 Stock 200 100 200 Debtors 150 200 250 Bills Receivable 90 270 200 Cash 50 70 60 Preliminary Expenses 30 20 10 Total 1,320 1,690 1,840 Prepare Trend analysis statement withcomments.?
Is this correct
An entity provided the following data on December 31, 2020: Checkbook balance ₱ 5,000,000.00 Check drawn on entity’s account, payable to supplier, dated and recorded on December 31, 2020 but not mailed until January 31, 2021 1,500,000.00 Cash in sinking fund 1,500,000.00 Treasury bills, purchased November 1, 2020 and maturing January 31, 2021 2,500,000.00 Time deposit, purchased October 1, 2020 and maturing January 31, 2021 3,500,000.00 What amount should be reported as cash and cash equivalents on December 31, 2020?
What is net income ?
The following accounting records show information regarding the debtors of funky tunes; Cash receipt Journal for the month ended 31 January 2020. Date (January) Receipts Details Total VAT Debtors Cash sales Other 5 712 H Stoop 1 035 135 900 8 714 - 718 Cash 27 600 3 600 24 000 12 457 M Lubbe 1 150 1 150 21 923 B Zaba 575 515 27 418 S Nintendo 2 300 2 300 31 Interest received 150 150 Total 32 810 3 735 4 865 24 000 150 Sales Journal for the month ended 31 January 2020. Date (January) Invoice Details Total VAT Sales 5 582 S Nintendo 966 126 840 6 583 M Lubbe 456 56 400 12 586 B Fouche 920 120 800 14 587 B Riley 1 000 1 000 22 590 S Nintendo 345 45 345 Total 3 687 347 3 385 The accountant prepared the following debtor's control account in the general ledger: Debtors Control A/C Date Details Amount Date Details Amount 1 Jan 2020 Balance 14 800 31 Jan 2020 Sales (SJ) 3 340 31 Jan 2020 Bank (CRJ)…
On August 1, 2022, Colombo Company’s treasurer signed a note promising to pay $122,700 on December 31, 2022. The proceeds of the note were $116,100. Use the horizontal model to show the effects of recording interest expense for the month of September. Indicate the financial statement effect. What is the discount on notes payable and what is the interest expense?
The data below are from the records of DUSK, INC. on December 31, 2019. The amount to be shown as total current liabilities on Dusk's statement of financial position at December 31, 2019, is Accounts payable Cash balance DEF Bank Cash overdraft with ABS Bank Customers accounts with credit balances Didends in arrears on preference shares P680.000 1.240.000 80 000 25.000 400.000 Employees income tax payable Estimated warranty payable 100.000 50 000 Estimated premium claims outstanding Income tax payable Notes payable (issued in 2019 maturing in 20 semi-annual installments beginning on April 1. 2020) Salaries payable 90.000 400.000 4,000,000 400,000 Your answer
Upon checking, the book of Meraki on December 31, 2020 is composed of the following:· Cash on Hand- P50,000· Demand Deposit- P200,000· Time Deposit, 30 days- P100,000· DAIF Check of customer- P4,000· Money market placement (due June 30, 2021)- P150000· Savings Deposit in a closed bank- P10000· IOU from employee- P2000· Pension Fund- P300000· Petty Cash Fund- P1000· Customer’s Check dated January 1, 2022- P5000· Customer’s Check outstanding for 18 months- P4000· Unused credit line- P50000 Additional information: a. P20,000 check was recorded as payment in December 31, 2020 but is mailed on January 5, 2021 to the suppliers. b. On December 31, 2020 a check dated January 15, 2021 of P10,000 in payment of accounts payable was recorded and mailed. c. While the Cash Receipt Journal is open until January 15, 2021, an amount of P40,000 was collected and recorded on December 31, 2020. d. The company uses the calendar year.…
Salalah Co.. Borrowed RO 200,000 on 1/1 2018 and issuance notes payable. The note requires interest at 12% and principal to be paid every one year. cash on 31/12/2022 is Select one: a. None of options O b. 200000 c. 201200 d. 202400
As at December 31, 2020, Sheffield Inc. has the following balances: Cash in bank, $119,000; Investment in preferred shares (retractable, purchased by Sheffield within 90 days of maturity date), $131,000; Investment in common shares (to be sold within 30 days), $90,000; and Cash (legally restricted for an upcoming long-term debt retirement), $213,000. Determine the December 31, 2020 cash and cash equivalents amount for the 2020 statement of cash flows under IFRS. Cash and Cash Equivalents $ eTextbook and Media Determine the December 31, 2020 cash and cash equivalents amount for the 2020 statement of cash flows under ASPE. Cash and Cash Equivalents $
Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off tothe nearest rand) (Show all workings)
11 dividend earned should be appear in bank reconciliation in: The following information for Dana Est.is shown on Aug 31, 2020: BD Cash per books Balance per bank statement 3700 3800 Unpresented checks Deposits not entered by the bank Dividend received by the bank not entered in cash book Bank charges not entered in books 150 1250 200 50 NSF checks 250 Collection of notes receivable by the bank not entered in cash book 1300 Add BD200 to balance per bank statement Add BD200 to balance per cash book O Less BD200 from balance per cash book