The following items were included in the cash accounts of Regal Co. at December 31, 2017: Checking account at Security Bank (P12,000) Checking account at BPI 53,350 Checking account at City Bank (for payment of salaries) 55,000 Postage stamps 150 Employee’s post-dated check 1,000 IOU’s from employees 2,500 Customer’s check marked “NSF” 1,200 Postal money order 860 Petty cash fund (P 1,340 in expense receipts) 2,000 150-day certificate of deposit, 10.75% due 1/31/15 80,000 What is the amount of cash that should be shown in Regal’s balances sheet at December 31, 2017?
- The following items were included in the cash accounts of Regal Co. at December 31, 2017:
Checking account at Security Bank (P12,000)
Checking account at BPI 53,350
Checking account at City Bank (for payment of salaries) 55,000
Postage stamps 150
Employee’s post-dated check 1,000
IOU’s from employees 2,500
Customer’s check marked “NSF” 1,200
Postal money order 860
Petty cash fund (P 1,340 in expense receipts) 2,000
150-day certificate of deposit, 10.75% due 1/31/15 80,000
What is the amount of cash that should be shown in Regal’s balances sheet at December 31, 2017?
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