Wimbledon Company provided the following information regarding the composition of its cash account on December 31, 2020: Checking account- BPI P1,200,000 Savings account- BPI 1,500,000 Cash on hand 10,000 Travel advances of employee to be paid through salary deduction 120,000 Separate cash fund, restricted for the retirement of long-term 1,000,000 assets Savings account includes P200,000 holdout against short-term borrowing arrangements. In the current assets section of Wimbledon Co.'s December 31, 2019 statement of financial position, how much should be reported as cash?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Kindly answer in good accounting form. Preferably in table :)

Wimbledon Company provided the following information regarding the
composition of its cash account on December 31, 2020:
Checking account- BPI
P1,200,000
Savings account- BPI
1,500,000
Cash on hand
10,000
Travel advances of employee to be paid through salary deduction
120,000
Separate cash fund, restricted for the retirement of long-term
1,000,000
assets
Savings account includes P200,000 holdout against short-term borrowing
arrangements. In the current assets section of Wimbledon Co.'s December 31, 2019
statement of financial position, how much should be reported as cash?
Transcribed Image Text:Wimbledon Company provided the following information regarding the composition of its cash account on December 31, 2020: Checking account- BPI P1,200,000 Savings account- BPI 1,500,000 Cash on hand 10,000 Travel advances of employee to be paid through salary deduction 120,000 Separate cash fund, restricted for the retirement of long-term 1,000,000 assets Savings account includes P200,000 holdout against short-term borrowing arrangements. In the current assets section of Wimbledon Co.'s December 31, 2019 statement of financial position, how much should be reported as cash?
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