ABC Company reported that the cash account per ledger had a balance at December 31, 2021 of P4,415.000 which consisted of the following: Petty Cash fund Undeposited receipts including a postdated customer check for P70,000 Cash in Allied Bank, per bank statement, with a check for P40,000 still outstanding Bond sinking fund Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 24,000 1,220,000 2,245,000 850,000 43,000 33,000 4.415.000 What amount should be reported as cash in the December 31, 2021 statement of financial position?
ABC Company reported that the cash account per ledger had a balance at December 31, 2021 of P4,415.000 which consisted of the following: Petty Cash fund Undeposited receipts including a postdated customer check for P70,000 Cash in Allied Bank, per bank statement, with a check for P40,000 still outstanding Bond sinking fund Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 24,000 1,220,000 2,245,000 850,000 43,000 33,000 4.415.000 What amount should be reported as cash in the December 31, 2021 statement of financial position?
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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