The following information pertains to Mapa Company on December 31, 2023: Correct cash balance in general checking account with BDO bank Overdraft in special checking account with Export bank Cash accumulated in special fund that will be used for plant expansion Cash surrender value Cash travel advances in the hands of company salespersons Currency and coins in petty cash fund (including unreplenished vouchers of P2,500) P800,000 (25,000) 3,200,000 75,000 30,000 20,000 What is the total amount that Mapa Company should report as "cash" in the current assets section of the statement of financial position on December 31, 2023?
The following information pertains to Mapa Company on December 31, 2023: Correct cash balance in general checking account with BDO bank Overdraft in special checking account with Export bank Cash accumulated in special fund that will be used for plant expansion Cash surrender value Cash travel advances in the hands of company salespersons Currency and coins in petty cash fund (including unreplenished vouchers of P2,500) P800,000 (25,000) 3,200,000 75,000 30,000 20,000 What is the total amount that Mapa Company should report as "cash" in the current assets section of the statement of financial position on December 31, 2023?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following information pertains to Mapa Company on December 31, 2023:
Correct cash balance in general checking account with BDO bank
Overdraft in special checking account with Export bank
Cash accumulated in special fund that will be used for plant expansion
Cash surrender value
Cash travel advances in the hands of company salespersons
Currency and coins in petty cash fund (including unreplenished vouchers of
P2,500)
P800,000
(25,000)
3,200,000
75,000
30,000
20,000
What is the total amount that Mapa Company should report as "cash" in the current assets section of the
statement of financial position on December 31, 2023?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F28e44eef-e50e-496a-b50e-876dada4744b%2F044c6675-8824-4b4b-9052-2a873ffe93f5%2Fvfq9zqt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information pertains to Mapa Company on December 31, 2023:
Correct cash balance in general checking account with BDO bank
Overdraft in special checking account with Export bank
Cash accumulated in special fund that will be used for plant expansion
Cash surrender value
Cash travel advances in the hands of company salespersons
Currency and coins in petty cash fund (including unreplenished vouchers of
P2,500)
P800,000
(25,000)
3,200,000
75,000
30,000
20,000
What is the total amount that Mapa Company should report as "cash" in the current assets section of the
statement of financial position on December 31, 2023?
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