The cash account of Kikay company on December 31, 2017 has a balance of P750,000 which includes the following: *Customer check of P60,000 returned by bank December 25, 2017 due to insufficient fund but subsequently re deposited and cleared by bank January 4, 2018. *Customer check for P90,00o dated January 10, 2018 received December 20, 2017. *Postal money orders received from customers, P75,000. What amount of cash and cash equivalents will be shown in the statement of financial position on December 31, 2017?

The cash account of Kikay company on December 31, 2017 has a balance of P750,000 which includes the following: Customer check of P60,000 returned by bank December 25, 2017 due to insufficient fund but subsequently re deposited and cleared by bank January 4, 2018. Customer check for P90,00o dated January 10, 2018 received December 20, 2017. *Postal money orders received from customers, P75,000. What amount of cash and cash equivalents will be shown in the statement of financial position on December 31, 2017?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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