8. White ink Company reported a Cash and Cash Equivalent balance of P1,187,500 on December 31, 2022 which consisted of the following: Petty cash fund (of which P390 is unreplenished vouchers for expenses; P75 is IOU notes and remaining currencies and coins amounting to P1,900). 2,500 Cash in bank, general account A, net of P12,500 bank overdraft in the general payroll 312,500 account in a different bank. Cash on hand including customers' postdated checks of P3,250. 12,500 Cash in bank, Administrators payroll account, after checks amounting to P62,500 375,000 dated December 31, 2022 but unreleased as of December 31, 2022. Savings deposit, earmarked for the acquisition of building which are expected to be disbursed within 6 months from reporting date. 300,000 Money Market instrument purchased on December 25, 2022 maturing on April 25, 50,000 2023. Cash in bank, General account B, including unrestricted compensating balances of Р100,000. 135,000 How much is the correct amount of Cash and Cash Equivalents to be shown in the Statement of Financial Position at December 31, 2022? C. 846,285 D. 908,650 А. 908,500 В. 808,650
8. White ink Company reported a Cash and Cash Equivalent balance of P1,187,500 on December 31, 2022 which consisted of the following: Petty cash fund (of which P390 is unreplenished vouchers for expenses; P75 is IOU notes and remaining currencies and coins amounting to P1,900). 2,500 Cash in bank, general account A, net of P12,500 bank overdraft in the general payroll 312,500 account in a different bank. Cash on hand including customers' postdated checks of P3,250. 12,500 Cash in bank, Administrators payroll account, after checks amounting to P62,500 375,000 dated December 31, 2022 but unreleased as of December 31, 2022. Savings deposit, earmarked for the acquisition of building which are expected to be disbursed within 6 months from reporting date. 300,000 Money Market instrument purchased on December 25, 2022 maturing on April 25, 50,000 2023. Cash in bank, General account B, including unrestricted compensating balances of Р100,000. 135,000 How much is the correct amount of Cash and Cash Equivalents to be shown in the Statement of Financial Position at December 31, 2022? C. 846,285 D. 908,650 А. 908,500 В. 808,650
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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