What total amount should be reported as CASH EQUIVALENTS on December 31, 2020? * Aruba Company had a checkbook balance on December 31, 2020 of P8,000,000 and held the following items in the safe: Check payable to Aruba, dated January 5, 2021, included in the December 31 checkbook balance 2,000,000 Check payable to Aruba, deposited December 20, and included in the December 31 checkbook balance but returned by bank on December 30, stamped "NSF". The check was redeposited January 2, 2021, and cleared January 3, 2021 Check drawn on Aruba's account and payable to a vendor, dated and recorded on December 31 but not mailed until January 15, 2021 Cash on hand – undeposited collections Change fund Time deposit for plant expansion Treasury bills purchased on Nov. 30, 2020 and due on Feb. 28, 2021 Money market placement- 90 days Postage stamps unused 500,000 1,500,000 400,000 40,000 1,000,000 2,500,000 3,000,000 10,000

What total amount should be reported as CASH EQUIVALENTS on December 31, 2020? * Aruba Company had a checkbook balance on December 31, 2020 of P8,000,000 and held the following items in the safe: Check payable to Aruba, dated January 5, 2021, included in the December 31 checkbook balance 2,000,000 Check payable to Aruba, deposited December 20, and included in the December 31 checkbook balance but returned by bank on December 30, stamped "NSF". The check was redeposited January 2, 2021, and cleared January 3, 2021 Check drawn on Aruba's account and payable to a vendor, dated and recorded on December 31 but not mailed until January 15, 2021 Cash on hand – undeposited collections Change fund Time deposit for plant expansion Treasury bills purchased on Nov. 30, 2020 and due on Feb. 28, 2021 Money market placement- 90 days Postage stamps unused 500,000 1,500,000 400,000 40,000 1,000,000 2,500,000 3,000,000 10,000

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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