31) ABC Company had the following account balances on December 31, 2021: Cash in bank - current account P5,000,000 1,000,000 500,000 Cash in bank - payroll account Cash on hand Cash in bank - restricted account for building construction expected to be disbursed in 2022 Time deposit, purchased December 15, 2021 and 3,000,000 due March 15, 2022 2,000,000 The cash on hand included a P200,000 check payable to ABC Company, dated January 15, 2022. What total amount should be reported as "cash and cash equivalents" on December 31, 2021?
31) ABC Company had the following account balances on December 31, 2021: Cash in bank - current account P5,000,000 1,000,000 500,000 Cash in bank - payroll account Cash on hand Cash in bank - restricted account for building construction expected to be disbursed in 2022 Time deposit, purchased December 15, 2021 and 3,000,000 due March 15, 2022 2,000,000 The cash on hand included a P200,000 check payable to ABC Company, dated January 15, 2022. What total amount should be reported as "cash and cash equivalents" on December 31, 2021?
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter16: Financial Statements And Closing Entries For A Corporation
Section: Chapter Questions
Problem 5AP
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