Rizal Company had the following balances at December 31, 2022: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2022 maturing Feb 28, 2023 Treasury note, purchased Mar. 1, 2022 maturing Feb. 28,2023 P500,000 200,000 500,000 700,000 What amount should Rizal Company report as cash and cash equivalents in its December 31, 2022 statement of financial position?

Rizal Company had the following balances at December 31, 2022: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2022 maturing Feb 28, 2023 Treasury note, purchased Mar. 1, 2022 maturing Feb. 28,2023 P500,000 200,000 500,000 700,000 What amount should Rizal Company report as cash and cash equivalents in its December 31, 2022 statement of financial position?

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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Question

Rizal Company had the following balances at December 31, 2022:
Cash in checking account
Cash in money market account - 60 days
Treasury bill, purchased Dec. 1, 2022 maturing Feb 28, 2023
Treasury note, purchased Mar. 1, 2022 maturing Feb. 28,2023
P500,000
200,000
500,000
700,000
What amount should Rizal Company report as cash and cash equivalents in its December 31, 2022
statement of financial position?

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