The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI , P102,000 Cash in Metro bank, P4,000 (credit balance) Cash in Union bank, P75,000 Petty cash fund , P5,000 (includes un replenished voucher of P2,000) Undeposited customers' checks, P23,000 Undeposited post dated checks from Customer A, P10,000 Unreleased supplier's check deducted from Metro Bank, P5,000 Undeposited bills and coins, P10,235 How much is the cash balance at Dec 31, 20X1? a. 214,235 b. 218,235 c. 220,235 d. 228,235
The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI , P102,000 Cash in Metro bank, P4,000 (credit balance) Cash in Union bank, P75,000 Petty cash fund , P5,000 (includes un replenished voucher of P2,000) Undeposited customers' checks, P23,000 Undeposited post dated checks from Customer A, P10,000 Unreleased supplier's check deducted from Metro Bank, P5,000 Undeposited bills and coins, P10,235 How much is the cash balance at Dec 31, 20X1? a. 214,235 b. 218,235 c. 220,235 d. 228,235
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following are items found in the records of ABC Corp at Dec 31, 20X1:
Cash in BPI , P102,000
Cash in Metro bank, P4,000 (credit balance)
Cash in Union bank, P75,000
Petty cash fund , P5,000 (includes un replenished voucher of P2,000)
Undeposited customers' checks, P23,000
Undeposited post dated checks from Customer A, P10,000
Unreleased supplier's check deducted from Metro Bank, P5,000
Undeposited bills and coins, P10,235
How much is the cash balance at Dec 31, 20X1?
Cash in BPI , P102,000
Cash in Metro bank, P4,000 (credit balance)
Cash in Union bank, P75,000
Petty cash fund , P5,000 (includes un replenished voucher of P2,000)
Undeposited customers' checks, P23,000
Undeposited post dated checks from Customer A, P10,000
Unreleased supplier's check deducted from Metro Bank, P5,000
Undeposited bills and coins, P10,235
How much is the cash balance at Dec 31, 20X1?
a. 214,235
b. 218,235
c. 220,235
d. 228,235
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