The following information has been taken from the accounting records of Xtra Company at December 31, 2021: Cash on hand (undeposited sales receipts) - P40,800 Certificate of time deposit with maturity of 3 months - P1,000,000 Customer's note receivable - P40,000 Reconciled balance in BDO checking account - (P14,000) Reconciled balance in PNB checking account - P374,000 Balance in ONB savings account - P342,400 Customer's postdated check - P54,000 Employee travel advances - P64,000 Cash in bond sinking fund - P48,000 Bond sinking fund investments - P323,600 Postage stamps - P17,200 What total amount should Xtra Company report as Cash at December 31, 2021?

The following information has been taken from the accounting records of Xtra Company at December 31, 2021: Cash on hand (undeposited sales receipts) - P40,800 Certificate of time deposit with maturity of 3 months - P1,000,000 Customer's note receivable - P40,000 Reconciled balance in BDO checking account - (P14,000) Reconciled balance in PNB checking account - P374,000 Balance in ONB savings account - P342,400 Customer's postdated check - P54,000 Employee travel advances - P64,000 Cash in bond sinking fund - P48,000 Bond sinking fund investments - P323,600 Postage stamps - P17,200 What total amount should Xtra Company report as Cash at December 31, 2021?

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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