On December, 31 2021, Alberto Company had the following cash balances: Cash in banks 1,800,000 Petty cash funds (all funds were reimbursed on Dec. 31, 2021) 50,000 Cash in banks includes P600,000 of compensating balances against short-term borrowing arrangements at December 31, 2021. The compensating balances are not legally restructed as to withdrawal by Alberto. In the current assets section of Alberto's December 31, 2021 Statement of financial postion, how much is the total amount of cash reported?

On December, 31 2021, Alberto Company had the following cash balances: Cash in banks 1,800,000 Petty cash funds (all funds were reimbursed on Dec. 31, 2021) 50,000 Cash in banks includes P600,000 of compensating balances against short-term borrowing arrangements at December 31, 2021. The compensating balances are not legally restructed as to withdrawal by Alberto. In the current assets section of Alberto's December 31, 2021 Statement of financial postion, how much is the total amount of cash reported?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 44E

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