The cash account in a company’s ledger showed a balance at December 31, 2017 of P44,150 which was determined to consist of: Petty cash fund P 240 Undeposited receipts, including a postdated check For P700 12,200 Cash in Allied Bank, per bank statement, with a check For P400 still outstanding 22,450 Bond in sinking fund- cash 8,500 Vouchers paid out collections, not yet recorded 430 IOU’s signed by employees, taken from collections 330 P44,150 At what amount should cash on hand and in bank be reported on the company’s balance sheet?
- The cash account in a company’s ledger showed a balance at December 31, 2017 of P44,150 which
was determined to consist of:
Petty cash fund P 240
Undeposited receipts, including a postdated check
For P700 12,200
Cash in Allied Bank, per bank statement, with a check
For P400 still outstanding 22,450
Bond in sinking fund- cash 8,500
Vouchers paid out collections, not yet recorded 430
IOU’s signed by employees, taken from collections 330
P44,150
At what amount should cash on hand and in bank be reported on the company’s
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