4G9:17 AMll (38)The following balances are shown the cash and cash equivalents balance per ledger:Manager's checks70,000Traveler's checks100,000Treasury note50,000Treasury shares, purchased on 12/1/2021, to be reissued on 3/1/2022150,000Escrow deposit200,000Bank drafts20,000Postal money orders20,000Demand deposit100,000Treasury bills, purchased December 16, 2021 due March 15, 202250,000160-day treasury bill30,000Time deposit, PCIB, one-year due March 31, 2022180,000Time deposit, PNB – 90 days170,000Time deposit, BPI – 120 days45,000Money market instrument – due 2/28/202240,000Money market instrument – due 6/1/202270,000Cash in bank – Metrobank, which includes a compensating balance of P50,000for short-term borrowing arrangement. The compensating balance is not legallyrestricted as to withdrawal.1,050,000Cash in bank – Metrobank(100,000)Cash in bank - Firstbank, which includes a compensating balance of P50,000for long-term borrowing arrangement. The compensating balance is legally450,000restricted as to withdrawal.Cash in bank – Secondbank(60,000)Cash in bank - Seatacbank, which includes a compensating balance of P40,000|for short-term borrowing arrangement. The compensating balance is legallyrestricted as to withdrawal.150,000Cash in bank - Seabank, which includes a compensating balance of P40,000 forshort-term borrowing arrangement.250,000Petty cash fund, which includes an unreplenished voucher for P4,000.10,000Payroll fund100,000Travel fund20,000Interest fund40,000Tax fund30,000Sinking fund420,000Preferred redemption fund100,000Contingent fund200,000Insurance fund500,000Fund for acquisition of PPE expected to be disbursed in 2022800,000IOU from officers20,000Cutomer's post-date checks70,000Customer's checks returned by bank marked "NSF"20,000Redeemable preferred shares – acquired 3 months before maturity date15,000Unused credit line200,000Revolving fund100,000Visa Card - credit limit20,000Required: Compute the cash and cash equivalents that should be shown in the statement of financial position.1.Cash2.Total cash and cash equivalent

Cash and Cash Equivalents Cash and Cash Equivalents are important part in the current assets of the…

Revolving fund 100,000 Visa Card - credit limit 20,000 Required: Compute the cash and cash equivalents that should be shown in the statement of financial position. 1. Cash 2. Total cash and cash equivalent

Revolving fund 100,000 Visa Card - credit limit 20,000 Required: Compute the cash and cash equivalents that should be shown in the statement of financial position. 1. Cash 2. Total cash and cash equivalent

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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