10. On December 31, 2021, the trial balance of Hello-hi Company reveals the following account balances: Petty cash fund - Finance P 40,000 Revolving fund - Operations 20,000 Current account- Oti bank 3,000,000 Current account - HSBC (overdraft) Money market placement - JP Morgan (250,000) 2,000,000 Page 4 of 7 Time deposit - Duetche Bank 2,000,000 Note that the petty cash fund includes unreplenished December 2021 petty cash expense vouchers for P10,000 and an employee check for PS,000 dated lanuary 31, 2022. There's a check for P45,000 that was drawn against Citi Bank current account dated and recorded December 29, 2021 but delivered to payee on January 15, 2022. And lastly, the Han Bank time deposit is set aside for plant expansion in February 2022. The December 31, 2021 balance sheet should report "cash and cash equivalents" at A 5,095,000 8. 5,090,000 C 3,090,000 D. 3,060,000
10. On December 31, 2021, the trial balance of Hello-hi Company reveals the following account balances: Petty cash fund - Finance P 40,000 Revolving fund - Operations 20,000 Current account- Oti bank 3,000,000 Current account - HSBC (overdraft) Money market placement - JP Morgan (250,000) 2,000,000 Page 4 of 7 Time deposit - Duetche Bank 2,000,000 Note that the petty cash fund includes unreplenished December 2021 petty cash expense vouchers for P10,000 and an employee check for PS,000 dated lanuary 31, 2022. There's a check for P45,000 that was drawn against Citi Bank current account dated and recorded December 29, 2021 but delivered to payee on January 15, 2022. And lastly, the Han Bank time deposit is set aside for plant expansion in February 2022. The December 31, 2021 balance sheet should report "cash and cash equivalents" at A 5,095,000 8. 5,090,000 C 3,090,000 D. 3,060,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.9MCE
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