TIGER LILY had the following account balances as of Dec. 31, 2019: P2,500,000 125,000 Cash in banks Cash on hand Cash legally restricted for additions to plant (expected to be disbursed in 2020) 1,600,000 Cash in banks includes P900,000 of compensating balances against short-term borrowing arrangements. The compensating balances are not legally restricted as to withdrawal by Tiger Lily. In the current section of Tiger Lily's balance sheet, total cash should be reported at a. P2,625,000 b. P2,250,000 c. P1,600,000 d. P1,725,000

TIGER LILY had the following account balances as of Dec. 31, 2019: P2,500,000 125,000 Cash in banks Cash on hand Cash legally restricted for additions to plant (expected to be disbursed in 2020) 1,600,000 Cash in banks includes P900,000 of compensating balances against short-term borrowing arrangements. The compensating balances are not legally restricted as to withdrawal by Tiger Lily. In the current section of Tiger Lily's balance sheet, total cash should be reported at a. P2,625,000 b. P2,250,000 c. P1,600,000 d. P1,725,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 21E: (Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson...

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(Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson Companys adjusted trial balance at the end of 2019: In addition, the following information was obtained from the companys records: Land was sold, at cost, for 1,900. Dividends of 4,000 were declared and paid. Equipment was purchased for 10,400. Common stock was issued for 9,000. Beginning cash balance was 17,000. Required: Using visual inspection and the direct method, prepare Walsons 2019 statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
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