The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following: Bills and coins on hand P52,780 Traveler’s check 22,400 Credit memo from supplier’s for purchase returns 6,500 Postage stamps 120 Petty cash including paid cash vouchers of P1,650 2,000 Balance in Savings Account with a bank closed by the BSP 36,000 Customer’s check dated January 15,2022 8,000 Money Order 800 IOU of an employee 400 CA Balance in BPI 22,000 Total P151,000 The correct cash and cash equivalents balance on December 31,2022 is P98,900 P98,790 P97,530 P98,330
The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following: Bills and coins on hand P52,780 Traveler’s check 22,400 Credit memo from supplier’s for purchase returns 6,500 Postage stamps 120 Petty cash including paid cash vouchers of P1,650 2,000 Balance in Savings Account with a bank closed by the BSP 36,000 Customer’s check dated January 15,2022 8,000 Money Order 800 IOU of an employee 400 CA Balance in BPI 22,000 Total P151,000 The correct cash and cash equivalents balance on December 31,2022 is P98,900 P98,790 P97,530 P98,330
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following:
Bills and coins on hand P52,780
Traveler’s check 22,400
Credit memo from supplier’s for purchase returns 6,500
Postage stamps 120
Petty cash including paid cash vouchers of P1,650 2,000
Balance in Savings Account with a bank closed by the BSP 36,000
Customer’s check dated January 15,2022 8,000
Money Order 800
IOU of an employee 400
CA Balance in BPI 22,000
Total P151,000
The correct cash and cash equivalents balance on December 31,2022 is
Bills and coins on hand P52,780
Traveler’s check 22,400
Credit memo from supplier’s for purchase returns 6,500
Postage stamps 120
Petty cash including paid cash vouchers of P1,650 2,000
Balance in Savings Account with a bank closed by the BSP 36,000
Customer’s check dated January 15,2022 8,000
Money Order 800
IOU of an employee 400
CA Balance in BPI 22,000
Total P151,000
The correct cash and cash equivalents balance on December 31,2022 is
P98,900
P98,790
P97,530
P98,330
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