Upon checking, the book of Meraki on December 31, 2020 is composed of the following: · Cash on Hand- P50,000 · Demand Deposit- P200,000 · Time Deposit, 30 days- P100,000 · DAIF Check of customer- P4,000 · Money market placement (due June 30, 2021)- P150000 · Savings Deposit in a closed bank- P10000 · IOU from employee- P2000 · Pension Fund- P300000 · Petty Cash Fund- P1000 · Customer’s Check dated January 1, 2022- P5000 · Customer’s Check outstanding for 18 months- P4000 · Unused credit line- P50000 Additional information: a. P20,000 check was recorded as payment in December 31, 2020 but is mailed on January 5, 2021 to the suppliers. b. On December 31, 2020 a check dated January 15, 2021 of P10,000 in payment of accounts payable was recorded and mailed. c. While the Cash Receipt Journal is open until January 15, 2021, an amount of P40,000 was collected and recorded on December 31, 2020. d. The company uses the calendar year. Cash and Cash Equivalent in December 31, 2020 is?
Upon checking, the book of Meraki on December 31, 2020 is composed of the following:
· Cash on Hand- P50,000
· Demand Deposit- P200,000
· Time Deposit, 30 days- P100,000
· DAIF Check of customer- P4,000
·
· Savings Deposit in a closed bank- P10000
· IOU from employee- P2000
· Pension Fund- P300000
· Petty Cash Fund- P1000
· Customer’s Check dated January 1, 2022- P5000
· Customer’s Check outstanding for 18 months- P4000
· Unused credit line- P50000
Additional information:
a. P20,000 check was recorded as payment in December 31, 2020 but is mailed on January 5, 2021 to the suppliers.
b. On December 31, 2020 a check dated January 15, 2021 of P10,000 in payment of accounts payable was recorded and mailed.
c. While the Cash Receipt Journal is open until January 15, 2021, an amount of P40,000 was collected and recorded on December 31, 2020.
d. The company uses the calendar year.
Cash and Cash Equivalent in December 31, 2020 is?
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