the accountant of jepjep holdings presented the following account balances as of december 31, 2021: Cash in bank - Checking P 2,600,000 Cash in bank - Savings 700,000 Cash on hand 300,000 Cash in bank - restricted 2,000,000 treasury bills 3,000,000 The restricted cash In bank account is opened specifically for building construction expected to be disbursed in Q1 2022. The cash on hand includes a P100,000 check payable to jepjep dated January 5, 2022. The treasury bills are purchased December , 2021 and due on February 28, 2022. If you are the accountant of Jepjep holdings, what amount of cash and cash equivalents should be reported as of December 31, 2021?
the accountant of jepjep holdings presented the following account balances as of december 31, 2021: Cash in bank - Checking P 2,600,000 Cash in bank - Savings 700,000 Cash on hand 300,000 Cash in bank - restricted 2,000,000 treasury bills 3,000,000 The restricted cash In bank account is opened specifically for building construction expected to be disbursed in Q1 2022. The cash on hand includes a P100,000 check payable to jepjep dated January 5, 2022. The treasury bills are purchased December , 2021 and due on February 28, 2022. If you are the accountant of Jepjep holdings, what amount of cash and cash equivalents should be reported as of December 31, 2021?
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 19E
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the accountant of jepjep holdings presented the following account balances as of december 31, 2021:
| Cash in bank - Checking | P 2,600,000 |
| Cash in bank - Savings | 700,000 |
| Cash on hand | 300,000 |
| Cash in bank - restricted | 2,000,000 |
| treasury bills | 3,000,000 |
The restricted cash In bank account is opened specifically for building construction expected to be disbursed in Q1 2022. The cash on hand includes a P100,000 check payable to jepjep dated January 5, 2022. The treasury bills are purchased December , 2021 and due on February 28, 2022. If you are the accountant of Jepjep holdings, what amount of cash and cash equivalents should be reported as of December 31, 2021?
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