The following were taken from the records of LML Co. as of December 31, 2010:P 120,000• Checks drawn but not yet issued to payees• Customers' checks dated January 15, 2011• Customers' checks dated Dec. 31, 2010LML's check dated Jan. 15, 2011 already mailed to payee35,00040,00016,000Cash on hand130,000Employees' checks representing unclaimed salaries, held by the treasurer 14,000Petty cash fund (fully replenished)20,000How much of the items listed above will be included in LML's Dec. 31, 2010 cash?

The transactions till December 31 , 2010 cash will be included in LML's December , 2010 cash.…

The following were taken from the records of LML Co. as of December 31, 2010: • Checks drawn but not yet issued to payees P 120,000 Customers' checks dated January 15, 2011 35,000 • Customers' checks dated Dec. 31, 2010 • LML's check dated Jan. 15, 2011 already mailed to payee • Cash on hand • Employees' checks representing unclaimed salaries, held by the treasurer 14,000 • Petty cash fund (fully replenished) 40,000 16,000 130,000 20,000 How much of the items listed above will be included in LML's Dec. 31, 2010 cash?

The following were taken from the records of LML Co. as of December 31, 2010: • Checks drawn but not yet issued to payees P 120,000 Customers' checks dated January 15, 2011 35,000 • Customers' checks dated Dec. 31, 2010 • LML's check dated Jan. 15, 2011 already mailed to payee • Cash on hand • Employees' checks representing unclaimed salaries, held by the treasurer 14,000 • Petty cash fund (fully replenished) 40,000 16,000 130,000 20,000 How much of the items listed above will be included in LML's Dec. 31, 2010 cash?

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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