Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? . 3,750,000 - 3,950,000 4,250,000 4,050,000

Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? . 3,750,000 - 3,950,000 4,250,000 4,050,000

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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