In an economy, it has the following monetary asset information as of December 2019. Cash in the hands of the public = P300B Demand deposits = P400B Other Checkable Deposits = P150B Traveler’s checks = P50B Savings Type accounts = P2000B Money Market Mutual Funds = P1000B Small-Time Deposits = P500B Large Time Deposits = P450B Determine the value of M1 and M2.

In an economy, it has the following monetary asset information as of December 2019. Cash in the hands of the public = P300B Demand deposits = P400B Other Checkable Deposits = P150B Traveler’s checks = P50B Savings Type accounts = P2000B Money Market Mutual Funds = P1000B Small-Time Deposits = P500B Large Time Deposits = P450B Determine the value of M1 and M2.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 11C

See similar textbooks

Similar questions

What total amount should be reported as cash and cash equivalents at December31,2020 on the statement of financial position? 2,580,000 2,970,000 2,930,000 3,170,000
58. Which of the following is/are cash equivalents?I. 180-day investment in a money market dated August 1, 2021 and purchased on November 15, 2022, P25,000II. Postal Money Order, P60,000III. 90-day treasury bill, P50,000IV. Two-year treasury note dated February 15, 2020, and acquired on December 1, 2021, P120,000. a. I and III b. I, II and III c. I, II, III and IV d. I, III and IV
Which of the following is Considered Cash? -Sinking Fund "Bond Attached is 2 year maturity" -Fund to buy PPE for Next Year -Pension Fund -Petty Cash Fund Inventories encompasses all of the following, except? -land and other property not held for sale -materials and supplies awaiting use in the production process -merchandise purchased by retailer -finished goods produced If the company has foreign cash in bank, the cash must be denominated as? -Dollar -Local Currency -Foreign Currency -Philippine Peso
Could you please separate the cash inflows and outflows? Cash flows from operating activities 2021 2020 2019 Net income (loss) $ 360,060 $ (549,177) $ 92,139 Adjustments to reconcile net income (loss) to net cash used in operating activities Depreciation and amortization 141,144 164,984 186,425 Unrealized foreign currency exchange rate gain (loss) 18,877 (9,295) (2,073) Loss on extinguishment of senior convertible notes 58,526 0 0 Loss on disposal of property and equipment 4,468 3,740 4,640 Gain on sale of the MyFitnessPal platform 0 (179,318) 0 Non-cash restructuring and impairment charges 26,938 470,543 39,000 Amortization of bond premium 16,891 12,070 254 Stock-based compensation 43,794 42,070 49,618 Deferred income taxes (2,642) 43,992 38,132 Changes in reserves and allowances (25,766) 10,347 (26,096) Changes in operating assets and liabilities: Accounts receivable (31,153) 167,614 (45,450) Inventories 93,287 15,306 149,519 Prepaid…
How much is the total amount to be reported as cash and cash equivalents as of December 31, 2020?
BT21 Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BT21 should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000.
UTV Corp. have the following account balances for the year ended December 31, 2020:DEBIT BALANCESAmountCash and cash equivalents400,000Accounts receivable900,000Raw materials560,000Goods in process600,000Finished goods1,400,000Financial assets at FVOCI2,500,000Sinking fund200,000Land1,000,000Building6,000,000Plant and equipment2,400,000Patent800,000Goodwill1,400,000Unrealized loss – FVOCI100,000Prepaid benefit cost20,000Treasury shares at cost250,000TOTAL18,530,000 CREDIT BALANCESAmountBank overdraft100,000Due from an officer50,000Allowance for bad debts40,000Accumulated depreciation – building1,600,000Accumulated depreciation – plant and equipment400,000Notes payable, due June 30, 20211,300,000Notes payable, due June 30, 20222,100,000Accounts payable1,000,000Provision180,000Warranty liabilities80,000Income tax payable120,000Finance lease liability180,000Deferred tax liability280,000Actuarial gain300,000Revaluation surplus360,000Share capital6,000,000Share premium2,000,000Retained…
Jungkook Company reported total cash and cash equivalents of P3,650,000 on December 31, 2020. The following items are included in its cash and cash equivalents. Investment securities of P200,000, these investments are actively traded in the market. Jungkook Company has agreed to maintain a cash balance of P100,000 in one of its banks (this amount is not legally restricted as to withdrawal). Investment securities of P500,000. These securities are commercial paper. The term of the papers is six months, and they were purchased on November 1 at which time they had three months to go until they mature. How much is the correct amount of cash and cash equivalents that Jungkook Company should report in its December 31, 2020 statement of financial position?
Presented below is selected information pertaining to the Cassie Inc:Cash balance, January 1, 2020- P13,000Accounts receivable, January 1, 2020- P19,000Collections from customers in 2020- P210,000 Capital account balance, January 1, 2020- P38,000Total assets, January 1, 2020- P75,000Cash investment added, July 1, 2020-P5,000Total asset, December 31, 2020- P101,000 Cash balance, December 31, 2020- P20,000Accounts receivable, December 31, 2020- P36,000Merchandise taken for personal use during 2020- P11,000Total liabilities, December 31, 2020- P41,000How much is the net income for 2020?
Which of the following is a cash inflow? Question 7 options: Mortgage balance in 2019 is $200,000, and in 2018 was $50,000 Building balance in 2019 is $180,000 and in 2018 was $150,000 Equipment balance in 2019 in $30,000 and in 2018 was $5,000 Accounts receivable balance in 2019 is $20,000 and in 2018 was $5,000
How much was the cash collected during 2020 resulting from sales in 2019 and 2020? *P 1,009,800P 1,079,400P 1,079,600P 1,085,400
BTS Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BTS should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000