ABC had the following items at December 31, 2022: • Coins and currencies - P26,435 . • Check from customer dated January 31, 2023 P66,430 • Cash set aside for the purchase of a machinery - P275,000 BDO checking account with a debit balance - P45,250 . Check from a customer returned by the bank marked NSF - P42,800 BPI checking account with a credit balance - P532,250 • Three-month commercial paper - P150,000 . Determing the amount of "Cash and Cash Equivalent" to be reported in the balance sheet as at December 31, 2022.

ABC had the following items at December 31, 2022: • Coins and currencies - P26,435 . • Check from customer dated January 31, 2023 P66,430 • Cash set aside for the purchase of a machinery - P275,000 BDO checking account with a debit balance - P45,250 . Check from a customer returned by the bank marked NSF - P42,800 BPI checking account with a credit balance - P532,250 • Three-month commercial paper - P150,000 . Determing the amount of "Cash and Cash Equivalent" to be reported in the balance sheet as at December 31, 2022.

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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