Bataan Company's checkbook balance at December 31, 2020 was P50,000. in addition, Bataan held the following items in its safe on that date Check payable to Bataan, dated December 31, 2020 in payment of a sale made in december 2020 not included in December 31, checkbook balance - P20,000 Check payable to Bataan, deposited December 15 but returned by bank on december 30 marked NSF. the deposit and the return were both reflected in the checkbook. - P5,000 Check drawn on Bataan Company's account, payable to a vendor, dated December 30, but not yet mailed to payee as of December 31, 2020. The check is not yet recorded. The amount to be shown as Cash on Bataan's statement of Financial Position at December 31, 2020 is (with solution) a. P48,000 b. P65,000 c. P68,000 d. P70,000
MC28
Bataan Company's checkbook balance at December 31, 2020 was P50,000. in addition, Bataan held the following items in its safe on that date
Check payable to Bataan, dated December 31, 2020 in payment of a sale made in december 2020 not included in December 31, checkbook balance - P20,000
Check payable to Bataan, deposited December 15 but returned by bank on december 30 marked NSF. the deposit and the return were both reflected in the checkbook. - P5,000
Check drawn on Bataan Company's account, payable to a vendor, dated December 30, but not yet mailed to payee as of December 31, 2020. The check is not yet recorded.
The amount to be shown as Cash on Bataan's
a. P48,000
b. P65,000
c. P68,000
d. P70,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
