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Wimbledon Company provided the following information regarding the mmposition of its cash account on December 31, 2020: Checking account- BPI Sevings account- BPI Cast on hand el advances of employee to be paid through salary deduction Separate cash fund, restricted for the retirement of long-term P1,200,000 1,500,000 10,000 120,000 1,000,000 Savings account includes P200,000 holdout against short-term borrowing angements. In the current assets section of Wimbledon Co.'s December 31, 2019 t of financial position, how much should be reported as cash?

Wimbledon Company provided the following information regarding the mmposition of its cash account on December 31, 2020: Checking account- BPI Sevings account- BPI Cast on hand el advances of employee to be paid through salary deduction Separate cash fund, restricted for the retirement of long-term P1,200,000 1,500,000 10,000 120,000 1,000,000 Savings account includes P200,000 holdout against short-term borrowing angements. In the current assets section of Wimbledon Co.'s December 31, 2019 t of financial position, how much should be reported as cash?

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