What total amount should be reported as CASH as of December 31, 2020? * Ecstacy Company reported the following information on December 31, 2020: * Share investments of P1,000,000 that are actively traded in the Philippine Stock Exchange. * Government treasury bills of P2,000,000. The treasury bills have a 10-year term and purchased on December 31, 2020 at which time they had two months to go until they mature. * Cash of P3,400,000 in the form of coin, currency, saving account and checking account. * Commercial papers of P1,500,000 The term of the commercial papers is nine months and the instruments were purchased on December 31, 2020 at which time they had three months to go until they mature.

What total amount should be reported as CASH as of December 31, 2020? * Ecstacy Company reported the following information on December 31, 2020: * Share investments of P1,000,000 that are actively traded in the Philippine Stock Exchange. * Government treasury bills of P2,000,000. The treasury bills have a 10-year term and purchased on December 31, 2020 at which time they had two months to go until they mature. * Cash of P3,400,000 in the form of coin, currency, saving account and checking account. * Commercial papers of P1,500,000 The term of the commercial papers is nine months and the instruments were purchased on December 31, 2020 at which time they had three months to go until they mature.

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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