Tharsis Company provided the following information at the current year-end: P 30,000 5,000 150,000 25,000 40,000 10,000 25,000 55,000 40,000 30,000 3,000 15,000 250,000 12,000 Cash on Hand Petty Cash Funds Cash In bank per bank statement Deposit in transit |Outstanding Checks Commercial paper with maturity of 2 months Customer post-dated checks Funds segregated for purchasing merchandise Cash fund payment of salaries Accounts Receivable Allowance for doubtful accounts before adjustment - DEBIT BALANCE!! Inventory, Ending Cost of Sales Doubtful Account Expense 1. How much is the total cash and cash equivalent? 2. How much is the total current assets?
Tharsis Company provided the following information at the current year-end: P 30,000 5,000 150,000 25,000 40,000 10,000 25,000 55,000 40,000 30,000 3,000 15,000 250,000 12,000 Cash on Hand Petty Cash Funds Cash In bank per bank statement Deposit in transit |Outstanding Checks Commercial paper with maturity of 2 months Customer post-dated checks Funds segregated for purchasing merchandise Cash fund payment of salaries Accounts Receivable Allowance for doubtful accounts before adjustment - DEBIT BALANCE!! Inventory, Ending Cost of Sales Doubtful Account Expense 1. How much is the total cash and cash equivalent? 2. How much is the total current assets?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Tharsis Company provided the following information at the current year-end:
Cash on Hand
Petty Cash Funds
Cash In bank per bank statement
Deposit in transit
Outstanding Checks
Commercial paper with maturity of 2 months
Customer post-dated checks
Funds segregated for purchasing merchandise
Cash fund payment of salaries
Accounts Receivable
Allowance for doubtful accounts before adjustment - DEBIT BALANCE!!
|Inventory, Ending
Cost of Sales
Doubtful Account Expense
P 30,000
5,000
150,000
25,000
40,000
10,000
25,000
55,000
40,000
30,000
3,000
15,000
250,000
12,000
1. How much is the total cash and cash equivalent?
2. How much is the total current assets?
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