The cash account in a company’s ledger showed a balance December31, 2015 of $44,150which has determined to consist of:Petty Cash Fund $240Cash undeposited receipt (including a post dated check for$700) $12,200Cash in ABC bank, per bank statement with a check for $400still outstanding$22,450Bond sinking fund cash $8,500Vouchers paid out of collections, not yet recorded $430IOUs signed by employees, taken from collection $330--------$44,150At what amount should cash on hand and in bank reported on the company’s balancesheet?
The cash account in a company’s ledger showed a balance December31, 2015 of $44,150which has determined to consist of:Petty Cash Fund $240Cash undeposited receipt (including a post dated check for$700) $12,200Cash in ABC bank, per bank statement with a check for $400still outstanding$22,450Bond sinking fund cash $8,500Vouchers paid out of collections, not yet recorded $430IOUs signed by employees, taken from collection $330--------$44,150At what amount should cash on hand and in bank reported on the company’s balancesheet?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The cash account in a company’s ledger showed a balance December31, 2015 of $44,150
which has determined to consist of:
Petty Cash Fund $240
Cash undeposited receipt (including a post dated check for$700) $12,200
Cash in ABC bank, per bank statement with a check for $400still outstanding
$22,450
Bond sinking fund cash $8,500
Vouchers paid out of collections, not yet recorded $430
IOUs signed by employees, taken from collection $330
--------
$44,150
At what amount should cash on hand and in bank reported on the company’s balance
sheet?
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