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Problem 1-12 PHILCPA Adapted) Starex Company provided the following information at year-end: 3,000,000 Checking account at Metrobank Employee postdated check 120,000 Foreign bank account unrestricted and in equivalent pesos 2,500,000 IOU from company president 500,000 NSF customer check Petty cash fund, expense receipts P40,000 100,000 50,000 10,000 Postage stamps Treasury bills Treasury bonds Value added tax account What amount should be reported as cash and cash equivalents? a. 8,710,000 b. 7,000,000 c. 8,210,000 d. 8,250,000 qabA 1,200,000 500,000 1,500,000 Ch 001: N

Problem 1-12 PHILCPA Adapted) Starex Company provided the following information at year-end: 3,000,000 Checking account at Metrobank Employee postdated check 120,000 Foreign bank account unrestricted and in equivalent pesos 2,500,000 IOU from company president 500,000 NSF customer check Petty cash fund, expense receipts P40,000 100,000 50,000 10,000 Postage stamps Treasury bills Treasury bonds Value added tax account What amount should be reported as cash and cash equivalents? a. 8,710,000 b. 7,000,000 c. 8,210,000 d. 8,250,000 qabA 1,200,000 500,000 1,500,000 Ch 001: N

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 16CE
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hi tutor! please answer the two requirements in a table form like in excel.

I will rate the tutor helpful/positivr/thumbs up if answered completely.

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Problem 1-12 PHILCPA Adapted)/ Starex Company provided the following information at year-end: Checking account at Metrobank Employee postdated check 3,000,000 120,000 Foreign bank account unrestricted and in equivalent pesos 2,500,000 10U from company president 500,000 NSF customer check Petty cash fund, expense receipts P40,000 Postage stamps Treasury bills Treasury bonds Value added tax account What amount should be reported as cash and cash equivalents? a. 8,710,000 b. 7,000,000 c. 8,210,000 d. 8,250,000 100,000 50,000 10,000 1,200,000 500,000 1,500,000 TAG 001S
Transcribed Image Text:Problem 1-12 PHILCPA Adapted)/ Starex Company provided the following information at year-end: Checking account at Metrobank Employee postdated check 3,000,000 120,000 Foreign bank account unrestricted and in equivalent pesos 2,500,000 10U from company president 500,000 NSF customer check Petty cash fund, expense receipts P40,000 Postage stamps Treasury bills Treasury bonds Value added tax account What amount should be reported as cash and cash equivalents? a. 8,710,000 b. 7,000,000 c. 8,210,000 d. 8,250,000 100,000 50,000 10,000 1,200,000 500,000 1,500,000 TAG 001S
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