The cash account in a company's ledger showed a balance atDecember 31, 1998 of P44,150 which was determined to consistof:Petty cash fundUndeposited receipts, including a post-dated customercheck for P700Cash in Allied Bank, per bank statement, witha check for P400 still outstandingBond sinking fund- cashVouchers paid out of collections, not yet recordedJOUS signed by employees, taken from collections24012,20022,4508,50043033044,150At what amount should cash on hand and in bank be reportedon the company's balance sheet?

Cash and cash equivalents are the balance-sheet line items that represent the value of a company's…

The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding 240 12,200 22,450

The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding 240 12,200 22,450

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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