The following data pertains to MCA Trading on April 30:Correct cash balance in a general checking320,000ofaccount with BDOOverdraft in a special checking account withGenbank (MCA does not have another accountwith Genbank)20,000Cash accumulated in a special fund that will beused for plant expansion in five years150,000Cash travel advances in the hands of sales12,000personnelCash surrender value of life insurance policy32,000Currency and coins in petty cash fund (the580company has not replenished the fund to theimprest amount of P2,000)How much cash should MCA report on April 30?

Name: The following data pertains to MCA Trading on April 30:Correct cash b
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Description: The following data pertains to MCA Trading on April 30:Correct cash balance in a general checking320,000ofaccount with BDOOverdraft in a special checking account withGenbank (MCA does not have another accountwith Genbank)20,000Cash accumulated in a

The question is asking about the amount MCA should show during reporting on June 30

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Business

Accounting

How much cash should MCA report on April 30?

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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An entity provided the following data on December 31, 2020: Checkbook balance P5,000,000 Bank statement balance 4,000,000 Check drawn on entity’s account, payable to supplier, dated and recorded on December 31, 2020 but not mailed until January 31, 2021 1,000,000 Cash in sinking fund 1,500,000 Treasury bills, purchased November 1, 2020 and maturing January 31, 2021 2,500,000 Time deposit, purchased October 1, 2020 and maturing January 31, 2021 2,000,000 What amount should be reported as cash and cash equivalents on December 31, 2020?
The following data pertains to Blessed Trading on April 30:Correct cash balance in a general checking account with Banco de Bro - P322,000Overdraft in a special checking account with General Bank (Blessed Trading does not have another account with General Bank - P20,000Cash accumulated in a special fund that will be used for plant expansion in the following year - P150,000Cash surrender value of life insurance policy - P32,000Cash travel advances in the hands of sales personnel - P12,000Currency and coins in petty cash fund (the company has not replenished the fund to the imprest amount of P10,000) - P2,850How much cash should Blessed Trading report on April 30?
The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS CASH PAYMENTS Cash Debit Check No. Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 P 208,700 20,350 27,950 109,350 92,700 4113 4114 10 4115 16 4116 22 4117 29 53,000 16,850 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 92,700 4 9 12 17 22 23 543,750 Less: Checks and other debits: Apr. 7 13 P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 50,000 1,000 Service charge 14 15 18 21 26 30 30 335,300 P 304,000 Ending balance
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The Marnie Department produced the following data for Amy Company as of December 31, 2021: Checkbook balance P 475,000Collectibles balance 500,000Cash in sinking fund 500,000Petty cash fund balance 5,000There was also a check drawn on Amy's account, payable to supplier amounting to P10,000, dated and recorded on December 31, 2014, but was mailed only on January 15, 2022. On December 31, 2021, how much should be reported as "cash and cash equivalents"? A. 990,000 B. 490,000 C. 980,000 D. 480,000
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