Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022:
|
Cash on hand |
P125,000 |
|
Bank time deposit (acquired 12/30/2022; due in 2/28/2023) |
150,000 |
|
Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. |
10,000 |
|
Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) |
250,000 |
|
Cash restricted for additions to plant (to be disbursed in 2025) |
1,200,000 |
|
Cash in bank – to be used for payment of 2023 dividends and taxes |
1,380,000 |
How much should be reported as cash and cash equivalents as of December 31, 2022?
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