Suga Corp. had a checkbook balance on December 31, 2021 of P10,000,000 and held the following items in the safe: · Check payable to Suga, dated January 4, 2021, included in the December 31 checkbook balance- P3,000,000 · Check payable to Suga, deposited December 20 and included in the December 31 checkbook balance but returned by bank on December 30, stamped NSF. The check was redeposited on January 2, 2022 and cleared January 3, 2022- P1,000,000 · Check drawn on Suga’s account and payable to contractor, dated and recorded December 31 but not mailed until January 15, 2022- P1,500,000 · Cash on hand - undeposited collections- P500,000 · Change fund- P10,000 · Time deposit for plant expansion- P1,000,000 · Treasury bill- P2,500,000 · Money market placement- P3,000,000 · Postage stamps- P5,000 What is the total amount should be reported as cash on December 31,
Suga Corp. had a checkbook balance on December 31, 2021 of P10,000,000 and held the following items in the safe:
· Check payable to Suga, dated January 4, 2021, included in the December 31 checkbook balance- P3,000,000
· Check payable to Suga, deposited December 20 and included in the December 31 checkbook balance but returned by bank on December 30, stamped NSF. The check was redeposited on January 2, 2022 and cleared January 3, 2022- P1,000,000
· Check drawn on Suga’s account and payable to contractor, dated and recorded December 31 but not mailed until January 15, 2022- P1,500,000
· Cash on hand - undeposited collections- P500,000
· Change fund- P10,000
· Time deposit for plant expansion- P1,000,000
· Treasury bill- P2,500,000
·
· Postage stamps- P5,000
What is the total amount should be reported as cash on December 31, 2021?
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