The June 30, 2022 statement of financial position of Red Corporation shows a cash balance of P1,350,700. Included in the said amount were the following items: Petty cash fund (including expense receipts of P3,150)-P5,000; Sinking fund cash-P350,000; Payroll fund maintained with Metrobank- P275,000 ; Savings account at Banco de Oro-P120,800; Un-deposited collections P36,420; Cash in foreign bank (in equivalent pesos)-P72,000; Customer’s check on hand: Traveler’s check-P40,450; certified check-P17,120; customer’s check dated July 10, 2022, P26,450; 90-day BSP treasury bonds- P 150,000; 120-day BSP treasury bills-P250,000. What is the correct amount of cash and cash equivalents of Red Corporation at June 30, 2022? P997,550 P750,700 P725,700 P721,100
The June 30, 2022 statement of financial position of Red Corporation shows a cash balance of P1,350,700.
Included in the said amount were the following items: Petty cash fund (including expense receipts of P3,150)-P5,000; Sinking fund cash-P350,000; Payroll fund maintained with Metrobank- P275,000 ; Savings account at Banco de Oro-P120,800; Un-deposited collections P36,420; Cash in foreign bank (in equivalent pesos)-P72,000; Customer’s check on hand: Traveler’s check-P40,450; certified check-P17,120; customer’s check dated July 10, 2022, P26,450; 90-day BSP treasury bonds- P 150,000; 120-day BSP treasury bills-P250,000.
What is the correct amount of cash and cash equivalents of Red Corporation at June 30, 2022?
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