At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000, demand deposit P 4,000,000, certificate of deposit P 2,000,000, post dated customer’s check P 300,000, petty cash fund P 50,000, traveler’s check P 200,000, managers check P100,000 and money order P 150,000. What amount of cash should be reported at year-end?
At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000, demand deposit P 4,000,000, certificate of deposit P 2,000,000, post dated customer’s check P 300,000, petty cash fund P 50,000, traveler’s check P 200,000, managers check P100,000 and money order P 150,000. What amount of cash should be reported at year-end?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 7E
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At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000,
demand deposit P 4,000,000,
certificate of deposit P 2,000,000,
post dated customer’s check P 300,000,
petty cash fund P 50,000,
traveler’s check P 200,000,
managers check P100,000 and
money order P 150,000.
What amount of cash should be reported at year-end?
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