) The cash account in the statement of financial position of ABC Company consisted of the following: Bond sinking fund (bonds expected to be settled in 1 year) Checking account in XYZ Bank per ABC's accounting records (a P320,000 check is still outstanding per bank statement) Currency and coins awaiting deposit Deposit in a bank closed by BSP Petty cash fund (of which P10,000 in is the form of paid vouchers) IOUS from officers and employees P1,500,000 3,155,000 1,135,000 500,000 50,000 175,000 6,515,000 What total amount of cash should be reported under current assets?

) The cash account in the statement of financial position of ABC Company consisted of the following: Bond sinking fund (bonds expected to be settled in 1 year) Checking account in XYZ Bank per ABC's accounting records (a P320,000 check is still outstanding per bank statement) Currency and coins awaiting deposit Deposit in a bank closed by BSP Petty cash fund (of which P10,000 in is the form of paid vouchers) IOUS from officers and employees P1,500,000 3,155,000 1,135,000 500,000 50,000 175,000 6,515,000 What total amount of cash should be reported under current assets?

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.21E

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