Romalyn Beauty Products has the following items in its books: Current account - Patricia Bank P200,000 Savings account - Jann Bank 500,000 Undeposited collections 50,000 Checking account - Claire Bank 1,000,000 90-day time deposit 2,000,000 Money market placement - Jean Bank 1,500,000 A check payable to Jolina Foods was drawn against Romalyn Beauty Products' account with Jann Bank amounting to P25,000 in December 2, 2020. The check was picked up by the messenger on January 5, 2021. A customer check dated February 5, 2021 was included in the undeposited collections amounting P15,000. What is the total cash to be reported as at December 31, 2020?. Single choice. P5,250,000 P3,760,000 P1,760,000 P3,250,000
Romalyn Beauty Products has the following items in its books: Current account - Patricia Bank P200,000 Savings account - Jann Bank 500,000 Undeposited collections 50,000 Checking account - Claire Bank 1,000,000 90-day time deposit 2,000,000 Money market placement - Jean Bank 1,500,000 A check payable to Jolina Foods was drawn against Romalyn Beauty Products' account with Jann Bank amounting to P25,000 in December 2, 2020. The check was picked up by the messenger on January 5, 2021. A customer check dated February 5, 2021 was included in the undeposited collections amounting P15,000. What is the total cash to be reported as at December 31, 2020?. Single choice. P5,250,000 P3,760,000 P1,760,000 P3,250,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Romalyn Beauty Products has the following items in its books:
Current account - Patricia Bank P200,000
Savings account - Jann Bank 500,000
Undeposited collections 50,000
Checking account - Claire Bank 1,000,000
90-day time deposit 2,000,000
Money market placement - Jean Bank 1,500,000
A check payable to Jolina Foods was drawn against Romalyn Beauty Products' account with Jann Bank amounting to P25,000 in December 2, 2020. The check was picked up by the messenger on January 5, 2021.
A customer check dated February 5, 2021 was included in the undeposited collections amounting P15,000.
What is the total cash to be reported as at December 31, 2020?. Single choice.
Current account - Patricia Bank P200,000
Savings account - Jann Bank 500,000
Undeposited collections 50,000
Checking account - Claire Bank 1,000,000
90-day time deposit 2,000,000
A check payable to Jolina Foods was drawn against Romalyn Beauty Products' account with Jann Bank amounting to P25,000 in December 2, 2020. The check was picked up by the messenger on January 5, 2021.
A customer check dated February 5, 2021 was included in the undeposited collections amounting P15,000.
What is the total cash to be reported as at December 31, 2020?. Single choice.
P5,250,000
P3,760,000
P1,760,000
P3,250,000
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