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The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding 240 12,200 22,450

The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding 240 12,200 22,450

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding Bond sinking fund- cash Vouchers paid out of collections, not yet recorded JOUS signed by employees, taken from collections 240 12,200 22,450 8,500 430 330 44,150 At what amount should cash on hand and in bank be reported on the company's balance sheet?
Transcribed Image Text:The cash account in a company's ledger showed a balance at December 31, 1998 of P44,150 which was determined to consist of: Petty cash fund Undeposited receipts, including a post-dated customer check for P700 Cash in Allied Bank, per bank statement, with a check for P400 still outstanding Bond sinking fund- cash Vouchers paid out of collections, not yet recorded JOUS signed by employees, taken from collections 240 12,200 22,450 8,500 430 330 44,150 At what amount should cash on hand and in bank be reported on the company's balance sheet?
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