Homework Help is Here – Start Your Trial Now!
Business
Accounting
Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? . 3,750,000 - 3,950,000 4,250,000 4,050,000

Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? . 3,750,000 - 3,950,000 4,250,000 4,050,000

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 4EB: Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B....
See similar textbooks
icon
Related questions
Question

I need help in this problem po

Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? a. 3,750,000 . 3,950,000 . 4,250,000 4,050,000 27
Transcribed Image Text:Problem 1-13 (PHILCPA Adapted) At year-end, ABC Company reported cash account per ledger at P4, 700,000 which consisted of the following: Petty cash fund 50,000 Undeposited receipts, including a postdated customer check for P100,000 1,500,000 Cash in bank 2,500,000 Deposit in bank closed by BSP 500,000 Vouchers paid out of collections, not yet recorded IOUS signed by employees, taken from collections 150,000 100,000 4,800,000 What amount should be reported as cash at year-end? a. 3,750,000 . 3,950,000 . 4,250,000 4,050,000 27
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Industry Specific Activities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS