The Marnie Department produced the following data for Amy Company as of December 31, 2021: Checkbook balance P 475,000 Collectibles balance 500,000 Cash in sinking fund 500,000 Petty cash fund balance 5,000 There was also a check drawn on Amy's account, payable to supplier amounting to P10,000, dated and recorded on December 31, 2014, but was mailed only on January 15, 2022. On December 31, 2021, how much should be reported as "cash and cash equivalents"? A. 990,000 B. 490,000 C. 980,000 D. 480,000
The Marnie Department produced the following data for Amy Company as of December 31, 2021:
Checkbook balance P 475,000
Collectibles balance 500,000
Cash in sinking fund 500,000
Petty cash fund balance 5,000
There was also a check drawn on Amy's account, payable to supplier amounting to P10,000, dated and recorded on December 31, 2014, but was mailed only on January 15, 2022. On December 31, 2021, how much should be reported as "cash and cash equivalents"?
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