Restricted foreign bank account (equivalent to pesos_ 1,000,000 IOU from eldest brother of Jonathan Fabian, the company controller 10,000 Listed stocks held as temporary investments 15,000 Payroll account 500,000
Restricted foreign bank account (equivalent to pesos_ 1,000,000
IOU from eldest brother of Jonathan Fabian, the company controller 10,000
Listed stocks held as temporary investments 15,000
Payroll account 500,000
Petty Cash fund (net of expense receipts pf P 6,000) 4,000
Additional information:
1. Check of P 200,000 in payment of accounts payable was recorded December 31, 2020 but mailed
to suppliers on January 5, 2021.
2. Check of P 100,000 dated January 5, 2021 in payment of accounts payable was recorded and mailed
on December 31, 2020.
3. Check of P 50,000 dated January 15, 2020 in payment of accounts payable was recorded and mailed
on January 15, 2020. As of the reporting period, the same has not been encashed by the payee and
still outstanding.
16. How much cash and cash equivalents should Amsterdam Corporation report on the December 31,
2020
Step by step
Solved in 2 steps
