Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022: Cash on hand P125,000 Bank time deposit (acquired 12/30/2022; due in 2/28/2023) 150,000 Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. 10,000 Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) 250,000 Cash restricted for additions to plant (to be disbursed in 2025) 1,200,000 Cash in bank – to be used for payment of 2023 dividends and taxes 1,380,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...
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Rudolf Company had the following items in its “Cash and cash equivalents” account as of December 31, 2022:
Cash on hand |
P125,000 |
Bank time deposit (acquired 12/30/2022; due in 2/28/2023) |
150,000 |
Petty cash fund – including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023. |
10,000 |
Cash in foreign bank – unrestricted ($5,000; average rate – P50; closing rate – P52) |
250,000 |
Cash restricted for additions to plant (to be disbursed in 2025) |
1,200,000 |
Cash in bank – to be used for payment of 2023 dividends and taxes |
1,380,000 |
How much should be reported as cash and cash equivalents as of December 31, 2022?
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