The cash account in Crisostomo Company's ledger on December 31, 2023 showed a balance of P500,000 which included the following: Petty cash fund Cash in sinking fund Vouchers paid out of collection, not yet recorded Undeposited receipts, including a postdated check of P20,000 Cash in Bank IOUS signed by personnel P15,000 120,000 30,000 60,000 250,000 25,000 At what amount should Crisostomo Company report as "cash" on the December 31, 2023 statement of financial position?

The cash account in Crisostomo Company's ledger on December 31, 2023 showed a balance of P500,000 which included the following: Petty cash fund Cash in sinking fund Vouchers paid out of collection, not yet recorded Undeposited receipts, including a postdated check of P20,000 Cash in Bank IOUS signed by personnel P15,000 120,000 30,000 60,000 250,000 25,000 At what amount should Crisostomo Company report as "cash" on the December 31, 2023 statement of financial position?

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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